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Find Cheap Properties For Sale In Famagusta Cyprus

Dec 18, 2007
Dirt cheap properties for sale in Famagusta Cyprus are not available on the island these days, particularly in the Southern part. What's cheap also depends on your viewpoint too. However buying cyprus property does still make a lot of sense and offers great value for money. These bargains are good for investment seekers as well as for people looking for a second/holiday home. A comfortable climate, stable political and social conditions, very modern amenities and easy access by sea or air are the main attractions. Comparable properties located elsewhere in the Mediterranean such as the Coastal regions of Spain do cost quite a bit more. For example UKú150,000 can buy you a 3 bedroom detached property with pool in most of the popular locations. So don't just look for cheap properties for sale in Famagusta Cyprus - look for great value for money. While the Northern part of the island may have Cyprus property for sale that is truly cheap, because of the occupied status and political situation such investment may be unwise.

The republic of Cyprus is developing fast as quite an offshore commercial destination. It is close to Europe and a short flight away from the British Isles, the island has a lot of tourist attractions. Opportunities exist for renting out residential properties. The rental income could provide a good return on the investment made.

English is spoken and understood quite well all over the island. Professionals are particularly conversant in the language. Southern Cyprus is well developed today. Schools, hospitals and modern department stores like Debenhams and Marks & Spencer are there in many of these major towns.

Temperatures vary from warm in the mountains to hot in the lowlands. Winter is mild in the lowlands but becomes cold enough for snow during winters in the mountains of the Troodos range. What is most attractive is that it has 320 sunny days a year on average. That alone is sufficient to encourage residents of the British Isles to buy Cyprus property!

The central area of Southern Cyprus is dominated by the Troodos mountain range which runs down to the hilly areas along the southern coast. Main towns and cities are the capital Nicosia, Ayia Napa, Limassol, Larnaca and Paphos. Nicosia is the capital city and comparable to most modern European cities, yet has a mix of the ancient too to make it very attractive. Limassol, Larnaca, Paphos, Ayia Napa, Polis, and Latchi are some very popular places on the Southern coast of the island. Ayia Napa is a major music and clubbing district of Europe. Protaras is another resort town popular with younger people, situated very close to Ayia Napa.

The local system is quite bureaucratic, so it is often better to go through an agent familiar with local systems & procedures. They can help determine the true value of cheap properties for sale in Famagusta Cyprus quite easily. That may add up to 5% to the property cost. Financing is available from local banks up to 80% of the price and repayment periods of up to 10 years.

Taxes and levies are applicable to buy sell Cyprus property as in most places. When you buy cyprus property, Taxes and Stamp Duties related to ownership transfer apply, so does a property tax and a levy by local authorities for conservancy services and street lighting. Cyprus properties for sale also attract a capital gains tax, though inflation related adjustments are available. For example if you lived in the property for 5 years or more exemptions are available. As these tax levels are modest, they do not make cheap properties for sale in Famagusta Cyprus any less attractive.
About the Author
Adrian Jones recommends getting a Cyprus detailed map when planning a trip to inspect your shortlist of Cyprus property for sale .
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