As a first time buyer you probably have no idea where to start but hopefully, this quick Cyprus property guide will help you find your way a little bit quicker.
Cyprus properties are doing tremendously well at the moment and these properties are expected to dramatically escalate in value over the next few years. Property investments in this beautiful and popular island are a great idea whether you are a Cypriot or a foreigner. It is also estimated that just about any property in Cyprus will experience high-value increases over the next few years but those that will do tremendously well include hi-end , hi-rise and residential properties in popular regions like Limassol, Paphos, Larnaca, Agia Napa and Protaras.
Decide what you want
The first step to buying property in Cyprus is to decide what you want. What type of budget do you have in mind? What is the main goal of your property? Are you starting a business, do you want to invest in buy-to-let property? Looking for a home? Are you budgeting for average or luxury? Narrow down your property desires and work from there.
Find out which regions are best
Different areas in Cyprus have different property values. For example; Property in the north of Cyprus doesn’t do as well since there are still plenty of land disputes ongoing. Property in popular areas like Limassol does tremendously well since tourists prefer to visit these locations. It is important to identify the best regions in which to invest if you want good returns on your investment.
Real estate agents are a good place to start
Cyprus has hundreds of real estate agents and most of these agencies are pretty fantastic and will have quite a huge selection of properties to choose from. It is great to work through a good real estate agent because they can help you narrow down your search so you will find exactly what you are looking for. Real estate agents are also great at advising you on the best ways to get started when it comes to your purchase.
Arrange viewings
It is always best to view the property before you buy, even if you have to go back a couple of times to make up your mind. While you are viewing the property, hire a building constructer to accompany you. These professionals are great at spotting foundation and construction errors and can give you the best advice on repairs you can expect to make.
Hire a lawyer
It is very important to work with a Cyprus real estate lawyer. Cyprus has plenty of property pitfalls to watch out for and if you are not careful in your selection of property and in your contractual agreements you could easily become trapped in a nightmare situation. Cyprus property lawyers can help you with all legal aspects of buying property.
The process of buying property in Cyprus is quite complex but if you use the right real estate agent and the right lawyer, these professionals will guide you through all the steps and will help you acquire property safely and securely.
