Many people want to have a house in Cyprus though it seems that only lucky ones ever see that dream turns into a reality. Any person has chances to purchase a house in Cyprus if he knows about buying process.
Let’s look at the purchasing process in Cyprus, as there are some bad and good news.
The bad news is that prices are continuously growing and there are no signs for them to go down in future.
The good news is that if you will buy your house in Cyprus now, you will make a great investment due to the constant growth of demand. You may also let your house when you are not using it yourself.
Many overseas buyers prefer to remortgage their homes and get better deposit from Cyprus banks for the property purchase in Cyprus. Most of the banks loan 75 % of a property value to the non-residents of Cyprus. With constantly growing tourism market and houses demand due to the specific of tourism you will find a way to repay your loan by letting your house. With a proper marketing your house will be a self financing investment.
Even though you may not want to let your house, it will still be a good investment due to the steady growth of the property’s value.
If you want to make the best deal you should buy a house off-plan. It is the best option for a holiday home buyer. You will have an opportunity to choose the look of your house and to purchase it half of its real value, which will grow after completion of building process.
So if you do really want to buy your Cyprus dream home, there are not too many issues standing in your way!
Copyright © CyprusNet
