Just launched a new way to buy a property in Cyprus
We have apartments and Villas in Paphos from a well known developer who is willing to consider exchanges on UK properties providing an easier way to buy your home in Cyprus NOW! Please contact us for more details.
Terms & Conditions
- UK properties will be considered for exchange after evaluation. Each case will be reviewed individually.
- Evaluation in the UK shall be done by a professional property evaluator,
assigned by the Developer. - Property in the UK should be of equal value or less than the property in Cyprus.
- If UK property is more expensive, maximum refund is not to exceed 10%.
- If property in Cyprus is more expensive than the UK property, loan up to 60% can be taken from a bank in Cyprus.
Web: www.newcyprusproperty.com
At the moment the market is growing at a normal (expected) pace. Nothing spectacular, which might be dangerous. From time to time you hear market voices saying that the introduction of the Euro (on January the 1st 2008) will cause a tremendous price increase on property. I do not personally believe that.
Actually the impact of the expectation can be (once again...) stronger than the impact of the actual happening.
Demand is still at a reasonable relationship to supply. Cyprus is a small island and therefore supply cannot increase. This makes demand a determining factor when it comes to prices.
During 2008, there is one factor that is expected to affect demand. The introduction of VAT on land as from January 2009, will make people move towards buying land during 2008, in order to avoid paying VAT. Such nervous reactions, usually lead to an increase in the overall demand and therefore will have an effect on price, during the second half of 2008, or even before that.
Larnaca and the surrounding villages, still have lower prices than Paphos and Limassol. But does this alone make Larnaca a better investment destination? If you see this having in mind only numbers, the answer is "yes", as starting from a lower investment amount, would mean a higher percentage, in terms of return on investment.
But market experts say that Paphos and Limassol will always be more expensive, therefore the choice of the area, is down to each individual. The type of the property and the individual's needs, budget and plans, can be determining factors here. One has to remember, that most of us buy only one property.
"Good value for money" properties, can be found in all areas in Cyprus and therefore it is not the area characteristics that count, but the individual property characteristics.
