Ecosse International Properties - Buy Properties Cyprus, Buy Property Cyprus

Buying Property in Cyprus

So you have found your ideal property, what's next?

Here is an example of some additional information for you with regards to purchasing your property/land in Cyprus.

Why Invest in Cyprus?

Cyprus has an established, well functioning property market where all sections of the industry operate efficiently. Investors are not expected to find any problems when buying or selling property or in getting financing, advice or any legal protection in Cyprus.

Investment property in Cyprus offers unrivalled security and investment potential to the property investor.

Cyprus home price index up 3.75 percent in October 2007

A real estate advertiser publishes a monthly Home Price Index the only one of its kind in Cyprus.

The company started to produce the index in 2004. It shows the movement of prices at which residential properties in Cyprus are sold and is based on an average of around 400 to 500 property sales/month.

When the index started in January 04, the average residential property price was CYP 77.910. By the end of October 07, it had reached CYP 107,686 - an increase of 38.22% over the 46 months since its introduction. This equates to an approximate annual growth of 9.97%.

For the whole of 2006, the Index rose by 5.87% after a rise of 2.48% in 2005.
In the first 10 months of 2007, the Index has risen by 15.43%.

Natural and Cultural Factors:

All year round excellent weather - hot summers and mild winters with rainfall make it one of the healthiest climates in the world.
Beautiful beaches and ancient monuments.
Multi culture with strong UK, Greek, Middle Eastern and Turkish influences.
Good facilities and services for foreign expatriates who integrate easily into an English speaking community.
Regular cheap direct access via low cost airlines from many UK airports with short flight times.

Economic Factors;

One of the fastest growing property markets in Europe.
Full EU member country.
Property prices increasing at around 20% per annum.
Booming holiday rental market with huge increase in tourism.
Favourable tax regime of only 10% corporate tax and double taxation with 40 countries.
Pension income taxed at only 5%.
No inheritance tax on all estate worldwide property for permanent residents.

Off Plan Property in Cyprus

Now a full EU member, Cyprus is one of the fastest growing off-plan property markets. Whether your off-plan purchase is for a villa, townhouse or apartment in Cyprus, many developers are offering beneficial payment through Ecosse International Properties with only the most reputable and secure development companies operating in your favoured location. Payment schemes currently on offer allow you to purchase property off-plan, i.e. before or during construction when the price remains low.

How can property be cheaper if bought off-plan - How does it work?

In order to limit financial risk and debts, the developers of any project in Cyprus will wish to sell units off-plan. They understand that if buyers cannot see a physical property at the beginning, they will demand a lower price, while relying purely on the developer's reputation, the property location, artistic impressions and computer simulations on which to base their decision to purchase.

In addition to the excellent off-plan price, some highly beneficial financial structures are in place. You will need to pay only around 20% of the purchase price in the form of a deposit, while the rest is payable upon completion. This may be financed by a mortgage if necessary.

Highly developed infrastructure, excellent telecommunications and transport.
Very strong, growing tourist industry.
Modem and efficient accounting and banking services.
Legal system according to UK standard.
Bilateral investment agreements with 16 countries.
Properties in Cyprus significantly lower prices than competitive markets of Portugal, Spain and France.
Economically stable.
Low cost of living.
Free market economy.
Low legal fees.