Real Estate Investments
There are quite a few different things you can do with your money if you want good returns on your investments for a financially secure future. Starting a company, investing in other businesses or shares and even cryptocurrency investments are all brilliant ways to get your savings to grow faster. Most financial advisors and entrepreneurs in Cyprus do however believe that real estate investments are the best types of investments you can possibly make. There are quite a few reasons for real estate investments to soar above other investment types like the following;
- Property is a low-risk investment
- Most property markets are very likely to escalate in value in the near future because of the growing population and the growing demand for property
- It is relatively easy to spot a good investment opportunity
- No internal business factors can affect the value of your investment
- It is easy to avoid risks and pitfalls if you use the right real estate lawyers to draw up your sales and leasing agreements
But just because property investments is the best type of investment out there doesn’t necessarily mean that it is the best investment type for you. Here are a few factors that can affect the success of your investments such as the following;
If you are a Cypriot then property investments are probably a good idea since this will prove to be an asset whether you decide to live on the property or sell it at a later stage. If you are a non-Cypriot then you should consider your ability to travel to the island or to make a profit out of leasing your property. Investors of over 2 million Euro can, however, apply for Cyprus citizenship which can also impact the worthiness of your property investment if you always dreamt of immigrating.
The location of your property in Cyprus also makes a huge difference in the success of your investment. For example; a property in popular regions like Paphos and Limassol fare extremely better than properties in the Turkish occupied northern region of the island.
Valuation of the property
It is important to get property evaluated properly before you invest. Do an investment analysis and get a professional to scout out the property for flaws before you invest. If all things pan out and if the property is in a good location then you are likely to make a good investment.
Capital or funding
You need money to invest in property. A buy-to-let property does, however, do well as long as you buy in the right places but it you should be able to comfortably come up with your mortgages or the risk in property investment will be significantly higher since you can never be sure of tenants.
Be aware of pitfalls
Cyprus property markets have quite a few pitfalls to watch out for but if you use a good Cyprus property lawyer you can easily steer clear of these pitfalls.
New vs old buildings
Cheaper older buildings are also a good deal but you have to take care of your repairs on these old buildings as can be much more expensive than new property prices might be. However old buildings often offer good returns or restoring and resale or restoring and rent
If you consider these factors then you can make the decision on whether to invest or not a lot easier. If you do decide to proceed then our property lawyers can help you with all the legal aspects of buying property in Cyprus.