Cyprus attracting property buyers
Leading travel journalist has reported that, after years of problems plaguing the islandââ¬â¢s property market, Cyprus ââ¬Ëis on the way backââ¬â¢. Writing for the Independent, Julian Knight recently round that the housing market in Cyprus is strong with many Brits still buying on the island.
Brits attracted to buying in Cyprus
Writing in the Independent, Julian Knight outlines why many Brits choose Cyprus as the location for their overseas home. ââ¬ÅEnglish is spoken widely across the island; the sun shines bright and warm right into November and beyond and the two major airports have regular flights to the UK, only four and a half hours away.ââ¬Â
And, activity on the island is on the way up. Developers have once again begun building luxury, top-end resorts and property and local agents have reported a rise in interest from British buyers.
Cyprus is a particularly good location for generating rental income from letting out your holiday home. Yiannos Panayides, sales manager of the luxury AphroditeHills development on the island, said: ââ¬ÅWe have sun most of the year, and on average in our resort villas we have 20 weeks a year full occupancy of rental villas. Many owners rent out in high season (May to October), earning the most cash and then stay there during other times with the weather fine deep into the year. You can understand why.ââ¬Â
Be careful of title deed issues
Many Brits have experienced problems with title deeds in Cyprus over the years and a leading property expert has urged potential buyers to seek the correct advice.
“If you are considering buying property in Cyprus, the key is to get the correct legal advice. Fortunately, documents should be in English,” said Rob Wilson, the overseas property director at Rightmove. “Don’t go with the lawyer the seller suggests or the developer ââ¬â source your own. Check out the Association of International Property Professionals to find a suitable lawyer.”
Find property in Cyprus at Homesgofast.com
