Buying your Cyprus Holiday Home you should be aware of some important issues:
1. As a non-resident of the country you are allowed to own only one piece of property in Cyprus. Although this regulation can be changed in the future.
2. If you buy a new property in Cyprus you may not receive the title deed up to five years afterwards.
3. On top of these problems there does exist a problem of buying a holiday home with debts and other issues, if you don’t take legal advice.
4. At the same time in Cyprus there might be traffic congestion; especially during the summer. The peak of tourism comes in summer period, when the place booming with visitors and becoming exceptionally overcrowded.
5. Here we can add also building and renovation costs when you buy resale holiday home and there might be unresolved debts from the previous owner; but if you have a lawyer and have acquired proper advices, you will not have unexpected costs and problems.
6. Letting of your holiday home might be a hassle and travelling from Cyprus and back might be inconvenient.
7. Also, there is water deficiency during summer periods in some regions of Cyprus.
Although there are some disadvantages on buying Cyprus holiday home Cyprus still keeps position of one of the most popular destination.
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