Paphos Property

Cyprus Property. Should you Rent or Buy?

It may seem absurd to suggest that there could be distinct advantages in Cyprus property rent rather than purchase but that may well be the case in certain cercumstances. The writer has always been quick to expound the benefits of property ownership in Cyprus especially in relation to Cyprus holiday villas or apartments. However a growing argument for long term rentals in Cyprus particularly by retired couples and even some families too. The great news for them is that there is no shortage of all kinds of properties available to rent all over the Island including the major holiday resorts. The question most readers will be asking however is, are there any advantages to paying rent rather than buying Cyprus property using a conventional mortgage?

A growing number of retired couples are selling up at home and moving to Cyprus to take advantage of the mild climate and more relaxed life style on the Island. These upwardly mobile pensioners don’t want to be tied down by the burden of Cyprus home ownership and prefer instead to rent. They have calculated that the interest on the money from the sale of their U.K. properties is sufficient to cover the rent on a Cyprus property. They are then at liberty to move from place to place with ease, free from any of the hassles involved in buying and selling property. Moreover should they need to return to the U.K. for whatever reason they would still have the benefit of their assets in cash at the bank.

Other older couples have chosen the Cyprus property rent option to avoid such things as inheritance tax and the possibility of the U.K. government liquidating their property assets. This is often the case should they need to go into care or nursing homes later in life. By either giving their property assets to their children or selling them off completely they put them beyond the reach of the Exchequer. The other advantage seen in such an arrangement is the pleasure of seeing their children benefit from their inheritance whilst the parents are still living. With Cyprus and the U.K having reciprocal tax and pension arrangements these couples can even have their pensions paid straight into a Cyprus bank account too.

In the case of Cyprus holiday rental properties there is no sense at all in renting such a house or villa because the rent would be based on the holiday market. The cost of renting these properties on a weekly basis would be astronomical and totally unfeasible for anyone considering a long term contract. Such as people actually moving to Cyprus or wishing to spend the whole winter there. Many Cyprus holiday property owners are willing to negotiate realistic rates for longer term rentals especially during the winter season. The difference in prices between holiday rentals and long term property rent is huge to put it mildly. Long term rent in Cyprus is always a cheaper option because the market is self regulated by the average wage which in turn dictates the real affordability of rents.

The ironic twist is that many Cyprus properties earning long term rent are often on the same street as identical houses generating four times the amount from holiday lets. So if you fancy living in a luxury Cyprus apartment or even a Villa with your own private swimming pool a long term rental could be just the ticket. With the Cyprus property boom continuing unabated there is a huge choice of property available for long term rent and no shortage of willing tenants either. A good proportion of these Cyprus properties will be owned by the former owners of the land because that’s how the developers pay them, with houses rather than cash. So if you like the idea of a home in the sun but don’t want to buy perhaps you should consider a Cyprus property rent.

Cyprus Properties for Sale ?What You Should Be Looking at Before Investing

Think about it. You are a prospective investor and would like to take up a luxury villa in Cyprus. What would you do first? Look up on the internet for a list of Cyprus properties for sale. You will find a bunch of these lists put up by various real estate agents and brokers exhibiting some of the properties in the prime locations of Cyprus.  So the first thing that you would be doing is to mark off some of the best properties that suit you from some of these lists of properties for sale. This narrows down your search of the properties and helps you in contacting the real estate brokers and agents asking for further details.

Some discerning investors would like to contact the real Cyprus developers from these lists of properties for sale. The reason why they would be contacting the Cyprus developers is pretty simple: if you can keep off the real estate brokers and agents showing off their lists of Cyprus properties for sale you have the chance to strike a good bargain directly with the Cyprus developer. By directly negotiating with the Cyprus developer, you can cut down and eliminate real estate agency brokerages and commissions which would add up to a nice amount when you finally take the buying decision. Apart from this you also have the opportunity of getting genuine title deeds direct from the developer that would mean less of scrutiny of records and investigations about the genuineness of the transaction.

The real estate broker would not be having complete details of the properties that he puts up in his list of Cyprus properties for sale. He would have just the basic necessities like the location, the price and some essential features of the properties. Besides, he would also be passing off as second sale or third sale of an existing property which would mean that the price would stand as heavily inflated.  As a shrewd investor, you would obviously be going in for a brand new luxury villa or house in Cyprus and not a used one, so these lists of properties for sale would not actually serve your purpose. Again, you would like your property to be situated in a specific location which may either be a sea resort or deeper amongst the mountains; not many of these lists of properties for sale would be that location specific.

These are the various things that an investor would like to keep in mind while searching for Cyprus properties for sale before actually taking a decision.

Why Should You Invest In Paphos Property?

Holiday homes in Cyprus are getting popular by the day and the percentage of investors investing in Cyprus property is soaring high. Amongst all other places in Cyprus, the place that is in top demand these days is Paphos property.

The specialty of Paphos lies in it being the only all year resort on the west coast of Cyprus. It helps businesses remain open throughout the year. Therefore, investors are also targeting this place both for holiday homes and businesses. According to surveys, holiday rentals in and around the Paphos area are, in fact, making some of the best returns on investment ever. As a result, lucrative market buyers are getting the opportunity to fully fund their investment just by renting. Long term rentals are getting higher returns more in Paphos than anywhere else in Cyprus as the resort has an “all year” status.

With real estate development work going on all around, Paphos is presently in the midst of a property boom. Whether you are looking for one bedroom apartments or luxury sea front villas with private pools, Paphos has it all. Those properties that are selling like hot cakes are the villas and the two bedroom apartments built in complexes with a communal pool area. Properties in different areas have different prices, but generally the closer is the property to the sea the higher is its price. Also the higher up your apartment the more you should expect to pay.

Some of the locations that are popular among investors are Aphrodite Hills Plots, Helios Village Villas, Konia, Coral Sunset, Coral Bay, Hexagon Oracle, Riza Villas, Peyia, Sea Caves Pearl, Riverside Villas, Tala, and Meteora Hills. All these places have exclusive developments with excellent facilities. The luxury apartment and villas here will surely leave buyers spellbound!

In order to bag the best deal while investing in a property all you need to do is get hold of a good investment property dealer. Dealers like Azure Investment Property can help you in this. With their help you can buy property in all the above locations and in many other places of Paphos as well. So, before the property prices soar high make the most of the current economic situation to crack the best deal.

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