Why Cyprus

• Plenty of sunshine and a warm climate
• Rising house prices of more than 15% for a number of years, making an excellent investment opportunity
• Excellent potential for income from long term or holiday lets
• One of the lowest tax regimes in Europe
• Cyprus wil be changing to the Euro in 2007
• Almost non-existent crime in Cyprus
• No inheritance tax
• Budget airlines are arriving in Cyprus now, including the new airbus
• 80% of the population speaks English
• Cyprus is one of the strongest economies in Europe
• The legal system is based on English common law
• Cyprus has been a member of the EU since 2004

 

Is my investment safe?

We only operate on the Greek Cypriot part of the island (the South) where we understand the law and its processes and know our investors will have title and ownership is confirmed by law. We also only deal with the best lawyers and most respected developers to ensure that our clients are fully protected.

How much loan to value can we get for our mortgage?

We assist our investors in getting the best deal possible. It does vary from bank to bank. We always expect a 70% LTV but in the recent case of Crystal Lagoon we managed to achieve 90%. Generally we expect a solid 80% LTV. For the bank to loan these amounts they will require proof of income and bank statements supported by an Equifax enquiry report.

Are there any beaches?

The South East Coast has plenty of sandy beaches and crystal clear seas, with lovely tavernas for sundowners and local fresh food served all day. When choosing a location, check with us and we will make sure that where you buy matches the best that your budget can achieve.

Is a pool important?

We would recommend that you have access to a pool whether that is shared or private. Typically a villa will have a pool which makes it very attractive for holiday rental. Most apartment and developments will have a communal pool. If there is no pool in sight, simply consider the investment carefully, it does not mean that you should not invest, just that you have thought things through carefully.

Do I need to visit?

Experienced investors tend to trust our judgment and do not need to visit; however we generally prefer that people do, especially if they have never been to the island before. Our directors rent their villas out and when a visitor purchases a property through us they normally get a week refunded on the rental. This means that you can have a relaxed holiday with no obligation to purchase.

How do I open a bank account?

No problem, we can take you to the bank and with a passport and some proof of address an account can be opened almost immediately.

What currency should I buy in?

A great question and one that is always open to debate. Swiss franc seems to track the Euro but is usually cheaper, so could well offer a good deal. But there is also the old rule of always buying in the local currency. The Euro is coming to Cyprus and is a pretty good rate at present, so that too is a good bet. We would mostly shy away from buying in STG £ or CYP £ at the present time, but your broker may have a different opinion.

Is the island developing?

The answer is a very exciting one. There are a number of new marinas planned all along the island and quite often our projects are quite close to the anticipated marina areas. Golf courses are arriving and there are plans for the Island to have 14 courses. The skiing in the Trodos Mountains is being developed. This is no Alpine resort but it does get plenty of snow and it is not too busy. Cyprus is improving its service industries and the infrastructure is being developed, making it a perfect European destination.

Also see;

Investment Property Finder

Free Investment Trips to Cyprus (conditions apply)

Full Management Service for your Investment Property