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Top Tips On What You Should Know Before Buying Property In Cyprus

Mar 13, 2008
Buying a second house is what most people do these days. If you're buying a piece of land or buying a property in Cyprus you'll find it's the best investment you'll ever make or maybe your second. But just how do you pay for your mortgage for that second home?

If you are ever thinking about making a property investment you need to consider the possible rental income that can be made. Luckily in Cyprus things have never been better and you will have no problems whatsoever in consolidating your investment. There are very high benefits during the peak seasons and winter tends to slow down a bit, although you shouldn't have any problems in breaking even.

Many people seem to believe that it's just out of their means to buy a second property, but if the truth is to be known, money is out there for the taking. It is just a question of basic arithmetic really as if your mortgage payment is around 1000 Euro (750 pounds sterling) a month and the rental income is 1000 Euro a week. That equals to your mortgage payment being covered and 3000 Euro left over at the end of the month.

Now you must understand that in winter you might only get one or maybe two of a months rented out, and the rent is lot lower, infact the rent can be halved, so if you work it out a Cyprus winter (which is like a British Summer) last for around 4 months of the year, you would need to have your Cyprus property rented out two weeks a month for four months.

So as we mentioned the summer months is where the money lies and brings in about three times as much as in the winter, so on average you would rake in about 7000 Euro per year and forget that your property would have appreciated in value too. So just look at all the financial benefits you are getting and on top of that you will probably be able to squeeze in a couple of holidays too.

Doesn't all this sound interesting? You can actually let your money do the earning while you just ease off a bit and enjoy life. If you think that you need to find out more then head straight on over to cyprusinformer.com where you will be given excellent guidance on how to get started on the property ladder in Cyprus and how to rent it out at a profit.
About the Author
Find out more about this Content Packed Cyprus Villa Rental on-line magazine produced by the Holiday Critic Tim Martins and check out this Cyprus Travel Tips Blog
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