The Advantages Of Buying Your Villa In Cyprus
Cyprus has so much to offer as far as romance, historical background and sun are concerned. Cyprus is one of those places that if you've been there once, well you tend to back there every year. It is such a popular holiday resort that a lot of people also end up buying their own villa in the heart of a paradise island. Buying a villa in Cyprus is still a great investment prospect as prices are still rising, the boom is set and the bubble hasn't burst like it has in Spain and the UK.
I was a lucky man during the boom years in the UK as I was able to purchase several properties and I really made a killing. I have always rented them out successfully and that is why I thing Cyprus is currently offering better conditions to do the same. If we compare Cyprus to the UK, well the weather is better for a start and the cost of living is a lot lower. The cost of property is much more interesting and there are always people looking for rentals in Cyprus, so you don't have to be a rocket scientist to see the benefits.
Would you like to see a few figures then? Well an average 3 bedroom villa in Cyprus can fetch about a 1000 Euro (800 pounds) a week during the peak season. But even in winter which is as mild as a UK Summer, there are people who are looking for long term winter rentals to escape the UK cold, which make the whole operation very profitable.
You'll find your rent is nowhere near 1000 euros a week, it's not far off being half of that, but if you work this out you'll still be making 2000 euros a month on rent, so less you mortgage you'll still be coming out on top. So it's better to dip your feet into the Cyprus property market now and get them wet, than just thinking about it, but always do your research before buying your dream villa.
You can count on a problem free purchase in Cyprus as everything is in your favour. Firstly English is spoken by almost everyone on the island which helps, and you will be impressed with some extremely enthusiastic banks which will put themselves out to get you the mortgage you need. A non-resident can get up to a 70% mortgage and interest rates are much lower than they are in the UK. You will be assisted by a bilingual solicitor throughout the purchase process and they will make sure that all debts are cleared before you sign under the dotted line. They charge a very moderate fee of around 600 Euro and you will certainly feel that it has been money well spent when it's all over.
So when you sum this up and look at it as an investment to your future it makes great financial sense. Your Cyprus villa allows you to sit back and watch your financial wealth grow, plus you can have your dream holiday when ever you like. Check out some more really good tips regarding investment in Cyprus on this blog... http://www.cyprusinformer.com/blog/
Article Source: http://www.search-raven.com
About the Author
Check out this Free Cyprus Holiday Rental Newsletter And Blog written by the illustrious Tim Martins
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by: TimMartins
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