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Buy Homes in Cyprus...Turn Dreams Into Reality

Jul 1, 2008
If you are looking at property investment, a holiday home or just somewhere new to live, well Cyprus probably tops the list both for today and for the future. Ever since Cyprus became a complete member of the EU it's economic growth has progressed steadily, resulting in it's rising popularity. The foreign resident population has developed in a big way forcing up property values as it becomes clear that it is a very special place to live in. It really is a dream come true opportunity as far as property investment is concerned and recently it was claimed to be becoming the Florida of Europe.

Cyprus benefits from a wealth of resources due to its beneficial location with excellent climate, it is also now a member of the European Union, providing highly beneficial advantages in communications, transportations and trade and growth throughout the economy. In fact, the EU is the source of over 50% of trade for Cyprus and over 70% of 2006's 2.4 million tourists were from the EU. Cyprus is also strongly tied to both the middle east and Africa, all of which helps to understand the increasing interest to buy cyprus property.

The real estate sector has been on the climb now for several years and as far as the experts are concerned it won't be tailing off in the years to come. Construction on the island is growing day by day as supply is still being outstretched by demand. The present really is the ideal time to invest as prices will continue to rise, so don't leave it too long. We can compare the present conditions to those experienced in Spain about 20 years ago, so now you have something to use as a guide to your property investments in Cyprus.

You will pleased to hear though that you will still be able to find property investment options through a very competitive Estate Agent and Developer sector. You may find that they are just too helpful though so do your homework before taking on the property agents on their territory.

Cyprus is also an ideal location due to the fact that the locals all speak English, so you can happily get by in your own language. You will also be supported by English speaking solicitors so you will always understand exactly what you are signing. If your are from the UK then you will also feel at home as their legal system is almost the same and something else of interest, they drive on the left hand side of the road.

Two differences that you should be aware of are that as a non-resident of the island it is only permitted for you to own one piece of property on Cyprus (although there is a possibility of this changing in the future) and that when buying new Cypriot property, it is quite likely that the title deeds will not be received for up to five years after completion. Importantly this does not prevent sale of the property before the documents are received, in fact some people already sell on their properties before construction is complete.
About the Author
Discover these Cyprus Property Tips written by the Holiday Critic Tim Martins and check out his Cyprus Holiday Blog
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