Cyprus is unique in terms of natural beauty and is equipped with fascinating nature attractions and tourist destinations. Cyprus is a best selling holiday spot, especially for Europeans. This island has more than 300 days of sunshine and has a very friendly population who speaks English to a sufficient level to communicate with tourists. Cypruss real estate market has increased significantly since the country became a member of the EU with many international buyers who bought housing on the beautiful island. Cyprus is among the most recommended places to invest in but there are some reminders to note before buying Cyprus real estate.
During my research to buy my own villa in Cyprus there were several things I had considered before I got my property in Cyprus. You must realize that buying a property from abroad is not that easy and you have to be organized and have a good plan. The first thing you need to do is get to know Cypruss real estate.
There are many tips on Cyprus Realty that you need to know before buying a property or making an investment in this wonderful country. You need to spend time exploring Cypruss real estate so that you get better prepared for it. Buying real estate anywhere is complicated and confusing, especially if you have no previous experience and knowledge and what may be worse, you are in a foreign country. The most important thing in purchasing real estate is to get an experienced and registered real estate agent and an experienced local English speaking lawyer who is honest and wants to protect your own interests. This will help you avoid potential conflicts. You also need to remember some other important tips to get the best properties and properties in Cyprus.
You must understand everything about mortgages and home purchases before writing any types of documents or contracts. You must also get an estimate of the property to make sure you do not pay for it. Talk to any other real estate company to make sure you get the best price.
Cyprus real estate market
Cyprus real estate is growing and becoming increasingly popular. It is important that you plan to get the best interest on the properties when demand grows The price of these properties is also growing. This has become particularly clear now that Cyprus has become a member of the European Union. Since then, Cyprus is the top choice for investors and holidaymakers because of its countless attractions and beauty as well as the endless opportunities in return.
Property development now in Cyprus lies on the buyer as banks are willing to extend the credit to those who want to invest in the real estate market.
Buy real estate in Cyprus
In Cyprus there are certain restrictions on non EU real estate investors. International buyers from non EU countries must get permission from the Council of Ministers before continuing their purchase. In addition, a non EU citizen may only buy an apartment or house or villa that does not exceed 4 044 square meters or is being developed.
The application to purchase a property can take between 2 and 3 months, to process and must be accompanied by documents, such as a statement showing financial stability, a pure criminal record, and a purchase agreement for the property is also necessary. As citizens of the European Union and Cypriots have the same rights, they can buy leisure time in Cyprus, unlike non EU citizens.
Types of property documents
There are two types of deeds available in Cyprus that you need to know, detention and leasing. The difference is that when building a property ownership, the buyer owns the property only for a certain amount of years. Always check with your real estate agent, developer and ultimately your lawyer to determine that your property is detention.
Cyprus is truly a beautiful destination not only for living, retirement and vacation but also a good place for investment. As a result, it is obvious to invest in property and real estate in this country. Remember, its best to get Cypruss real estate broker to avoid all conflicts and to get advice about the right investments that can bring good returns in the future.
Lets be serious in one minute, buying a villa in Cyprus is a dream for many people. The last thing you need when making a decision is that its a hassle to handle every piece of paperwork, legality or phone calls. Let professionals work on the ground for you.
When considering moving to somewhere as beautiful as Cyprus, the most important thing in your mind is to be the relaxing atmosphere, the great food and the amazing people.