Cyprus is extremely generous when it comes to offering a romantic memory, a historical adventure or just a sun-filled stay. It has that effect on people that once you’ve been there, you just have to come back year after year. It is part of people’s lives to such an extent that they cannot resist the temptation to buy their own villa in the sun. If you’re still thinking about it, well, Cyprus is still a booming real estate investment island, as growth is plentiful and the bubble still doesn’t seem to burst like it has in Spain or the UK.
I was a lucky man during the boom years in the UK as I was able to buy a number of properties and really made a killing. I have always rented them with success and that is why I believe that Cyprus currently offers better conditions to do the same. If we compare Cyprus to the UK, well, the climate is better to begin with and the cost of living is much lower. The cost of ownership is much more interesting and there are always people looking for rentals in Cyprus, so you don’t have to be a rocket scientist to see the benefits.
So, are you ready to see how much you can earn through property investment in Cyprus? Well, you might be surprised to learn that a typical 3-bedroom villa can generate an average of €800 in high season. Easy money plus there are great long term rentals out of season as many Brits are looking to get away from the nasty UK winters which will generally bring in a tidy little sum of year round rental income. .
If you want to see an average monthly income throughout the year it would be around 2000 euros which makes this property very profitable as the mortgage payments would be less than half of that. Don’t miss out on the boat now that the time is right, although it is advisable to do your research before deciding to buy your dream villa in Cyprus.
You can count on a hassle-free purchase in Cyprus as everything is in your favor. First of all, almost everyone on the island speaks English, which helps, and he will be impressed with some extremely enthusiastic banks who will go out of their way to get him the mortgage he needs. A non-resident can get a mortgage of up to 70% and interest rates are much lower than in the UK. A bilingual attorney will assist you throughout the purchase process and will ensure all debts are cleared before you sign below the dotted line. They charge a very moderate fee of around 600 euros and you will surely feel that it has been money well spent when it is all over.
You really can’t go wrong right now if you buy a villa in Cyprus as an investment and as an ideal holiday home. You can rent it out for high rental income during peak season and then spend the winter in sunnier parts. What are you waiting for? If you think this might be for you, I suggest you check out the cyprusinform blog for more investment advice on buying Cyprus Villas.