Why do investors buy property in Cyprus you ask ? The answer is simple.
Cyprus is one of the worlds most stunning and beautiful countries with sunny and warm climates all year round. Cyprus also boasts a better quality of life coupled with a cheaper cost of living making it a hot spot for overseas property investment from Russia, China and wealthy buyers from the middle east. We have seen allot of investment above the 500,000 euro mark from cash rich Russians and Chinese for the Golden Visa scheme. UK and Irish invest in this beautiful country to move to a warmer climate.
Like any life changing decision buying property overseas should not be taken lightly and we advise doing your research on the local law and speak to experts in Cypriot law. Please refer to our Cyprus buying guide for more information.
No one can see into the future or any stumbling blocks in your way when purchasing property in Cyprus but a savvy buyer can take note of these few important factors.
Spend time researching and finding the right property in the right area of Cyprus for you. Speak to neighbours in the complex or area you want to potentially buy into to get an overall view.
Ask them about maintenance fees costs and what the maintenance company is like. Inspect the complex and area fully and take note of anything that may need repaired. Ask the management company if they will be seeing to these repairs before you make a deposit.
If they are good and looking after your interests this should not be a problem and ask if you have to pay for them, on the other hand if they complain and give excuses stay away and keep looking for the right property. As a new owner you will have to pay for all repairs.
Ask about noise in the complex or in the area as no one wants to buy a property in Cyprus beside a noisy street or noisy neighbours.
Most importantly hire a expert estate agent in Cypriot re sales who can find the perfect property to meet your requirements.
The Euro Property Group have years of experience sourcing property for buyers and investors not only in Cyprus but also across Europe. Our Partners can help with every aspect of your purchase from the inspection trips right down to the legal paperwork.
Do your research on the company you are buying with as the last thing you want is to send a deposit to anyone about to go out of business extensive research will mean no headaches.
Lastly and most importantly use an independent lawyer or solicitor who speaks your language. They have to be independent from the vendor and the estate agent and never ever sign anything without checking and checking again. Lastly and most importantly never sign anything not translated into your language.
We hope this guide helps you find your dream property in Cyprus.
The Euro Property Network have years of experience with UK and Irish Estate agents selling property in Cyprus.