OFF-PLAN PROPERTY INVESTMENT ADVICE AND GUIDANCE IN SOUTHERN CYPRUS
Off-plan purchase and investment advice and guidance offered in the UK and Cyprus, by an experienced and knowledgeable
team who are experienced at buying and renting properties overseas.
Have you ever dreamed of owing a home in the most perfect of climates? Cyprus has one of the best climates known to man... with temperatures averaging 55F in Jan to 80F in August and on average there are less than 50 days rain per year (i.e. 315 days are dry!). Yet, despite this lack of rain, the island does not feel 2,000 miles away from the UK. Cars are driven on the left hand side of the road, road signage and traffic lights look the same as the UK, and electricity sockets accept our familiar square 3-pin plugs.
Owning a home in Cyprus - in ideal climate - is achievable, because comparable properties are still far cheaper than in the UK.
Buying 'off plan' makes a lot of sense because it is normal for the price of the property to rise in value whilst it is being constructed. Therefore, on completion you are likely to own a property that has seen a handsome increase in value since your purchase.
If you are not yet ready to relocate to Cyprus, you might be considering buying an investment property with a view to benefiting from holiday rental income and long-term lets.The choice is yours.
Please scroll down to find links for other investment property opportunities in Cyprus, Turkey, Mallorca and France.
Cyprus is an enduring holiday destination. Until recently, holidaymakers have been served by large resort developments along the southern coast, with Limassol and Ayia Napa being the most well known.
The recent shift away from package holidays to bespoke villa and apartment holiday rentals, found through the Internet, has changed the holiday property market. A growing number of more discerning and independent tourista are now seeking private villa and apartment rental properties and taking advantage of the low-cost airlines such as Easyje that fly from UK airports.
Away from the package holiday resorts, Cyprus opens up into an enticing land of olive groves, small villages, beautiful scenery and friendly people.
SOUTHERN CYPRUS INFORMATION
Southern Cyprus lies to the South of Turkey in the Mediterranean Sea and enjoys hot dry summers and cool wet winters. The capital Nicosia is inland on the border with Turkish Northern Cyprus. The language is Greek but close historic links with the UK means that English is widely spoken and understood. The currency is the Cypriot pound ( CYP£). However Southern Cyprus is scheduled to commence use of the EURO in 2007 and it is expected that this will result in a healthy rise in the price of property. Three-night cruise packages from Cyprus to see the Pyramids in Egypt are very popular.
Holiday makers and investment property investors are attracted to Southern Cyprus for many reasons; year-round warm weather, cooler inland mountains and forests, the culture, the people and their warm hospitality, the beaches and rural scenery, the archaeology... and so the list goes on!
If you are considering an overseas investment purchase in Cyprus, you need to be aware that buying property in Cyprus is not quite as simple as in many other countries, including the UK. Legal complications can catch-out the unaware, so a good lawyer is essential, as is the guidance of someone who 'knows the ropes' and can spare you much heartache.
Example risks that can be mitigated with relative ease - yet have disastrous consequences if overlooked.
Buying 'off-plan' where the building has yet to be constructed - nothing to be fearful of, so long as you understand the process.
Confirming that planning permission has been granted, and what exactly is included in the purchase (e.g., does it include the land on which the property is built!).
Submitting the required documentation after the purchase, to assure your rights.
Good and bad investments
Equally as important as the process of buying, is the choice of property and its... location. Any property purchase should be viewed as an overseas investment property opportunity. Investments should ideally provide a yield and a capital gain.
Rental income projections
You may not be seeking a yield (i.e., rental income), but it is wise to purchase a property that is sufficiently desirable and well located that a rental income could be generated if required at a future date. If it does not have rental income potential, you have to ask yourself what exactly is the specific appeal of the property being considered. Depending on the answer to that question, you might then wish to ponder if buying it would be a sensible thing to do.
It cannot be overstated, that it is NOT wise to mortgage an investment property solely on the basis rental projections. The rental income projections of numerous property sales agencies and developers are nearly always overstated.
Capital gains projections
An investment property is only an 'investment' if it has the potential to be sold at a later date for a profit. This requires that a buyer can be found. So again, it is wise to approach a property PURCHASE with the mind-set of a someone who will be trying to SELL the property at some time in the future.
Many people find it hard not to be 'swept-up by the emotion' of making the purchase, and this is where the advice and guidance of an independent person with strong local knowledge of the property market can be invaluable.
BUYING PROPERTY IN CYPRUS
We have owned a rental property in Menorca, one of the Spanish Balearic Island, for many years and haven gained a good understanding of how to buy and manage investment property and maximise its rental yield. We made our second overseas investment property purchase in 2004, this time buying 'off-plan' in Southern Cyprus. We chose the up-coming area of Peyia (Pegeia) near Coral Bay to the West of Paphos.
Having successfully navigated the process of buying the off-plan villa in Cyprus, we now want to help others who wish to make similar property purchases, by offering our experience and advice together with that of our contacts who live on the island of Cyprus.
In 2004 we decided to purchase a new apartment 'off plan' in Southern Cyprus, for capital investment purposes and with a view to letting it out to holidaymakers for rental income. We have now taken ownership of our brand new two-bedroomed apartment at Peyia Paradise Apartments in the quiet village of Peyia (Pegeia) near to Coral Bay to the west of Paphos, having bought it in May 2004 for CYP£86,000. In May 2005, only one year later, a similar property in the same development was selling for CYP£100,000 (an annual increase of 15%).
We are able to provide this advice service with the support of a experienced & knowledgeable team who have been resident in Cyprus for 3 years. Together we can provide you with a reliable, discreet and bespoke service. Between us we have invaluable local knowledge and can identify the best properties in the Paphos area to buy property and the best developers to buy from. Please note that the service we are offering is aimed at those who are genuinely looking to buy NEW property in Paphos and the surrounding area (35km radius) of Southern Cyprus. We do not deal with 're-sales' or off plan purchases in other areas of Southern Cyprus (e.g. Limassol, Larnaca, Nicosia, etc).
It was Shaun who originally helped June and I to find our wonderful apartment in Kissonerga, between Paphos and Coral Bay. In a period of three days we saw some 40 properties and created our short list of 2 or 3 and finally settled on the preferred option. Shaun had done all the planning and most of the research based on our specification and assisted in the final negotiations to strike the deal.
Our experiences of our apartment in Kissonerga made our mind up that we wanted to go a step further and find a seafront plot of land to build on in the Paphos area. We turned to Shaun again. We were clear on what we were looking for and so we put our specification to Shaun with the challenge to find the right seafront plot of land with options to build our 4 bed villa.
Shaun exceeded our expectations by coming up with a number of exciting options. Out of the 15 or so options, Shaun took our criteria and helped to whittle them down to 5 or 6 that matched. I then flew out from the UK to look at the options with Shaun. All 5 short listed plots were fantastic, but each with different unique selling points. Again we settled on the two best and worked together on negotiating the best deal. Within a very short period of time we had a deal on the table that June and I were delighted with.
What I particularly like about Shaun’s fantastic services is that they are personal and committed and very professional. I know that I am going to get the priority, attention and speed of response I need. Shaun’s understanding of what I am looking for is always spot on and I know I am going to get thorough research on my projects. There is no need for me to consider anyone else to deliver on my property ventures in Cyprus!
Steve from Aberdeen (2007)
OFF-PLAN PROPERTY PURCHASE ADVICE AND GUIDANCE
We want to help others who wish to follow in our footsteps and own investment property in Southern Cyprus.
If you are serious about investing in Southern Cyprus property, we can provide you with a reliable, bespoke and personal service.
Identification of suitable properties
We will establish your requirements then forward a precise brief to our associates in Cyprus.
We will liaise with local developers and identify suitable properties for you to view.
A tailored itinerary for your inspection visit will then be prepared.
Your flights and accommodation can be booked, if you prefer us to do this on your behalf.
Property viewing service
We will arrange accompanied viewing and will personally introduce you to developers. Together with the bespoke itinerary that is prepared before you arrival, this service means that you are able to achieve a lot within a very short space of time - ideal for those who are short of time, due to work and other commitments.
Assistance with accommodation while viewing and on return trips
Independent (not tied to any one agent or developer)
Escorted property viewing
Local knowledge guidance on best local areas, agents and developers
Purchase advice and guidance
Having identified a property that meets all of your requirements, advice can be provided on financing the purchase and guidance offered throughout the purchase process, including the necessary formalities.
In order to maximise the time we can spend on looking for suitable properties for you and to minimise the time we might spend on people who are not genuine, we kindly request a deposit of £100.00. This sum will be returned to you if (i) you proceed to purchase or (ii) you were not 100% satisfied with the service we provided.
Individual buyers can approach developers, but the majority will not deal with individuals and it is necessary to have a relationship with a sufficient number of developers to secure the best property for each requirement.
The developers we deal with are reputable and known for being competent, reliable and competitive.
HOW TO CONTACT US
We look forward to helping you achieve your goal of buying property in Southern Cyprus.
If you have a property to sell or let for holidays in UK, Spain, Balearics Islands, France, Greece, Italy or Turkey email the Webmaster firstname.lastname@example.org (DO NOT SEND .zip ATTACHMENTS, because they are blocked by our servers). He owns dedicated high performances servers and closely monitors Web Statistics to assure your success.