Buying and choosing real estate in Cyprus: rules and useful tips

Nowadays, buying property in Cyprus is becoming an increasingly attractive investment option. To ensure that the transaction goes through without any unpleasant surprises, it is worth enlisting the support of professionals. By contacting MySpace real estate agency, the buyer can be sure that he will acquire a liquid property at a reasonable cost.

Features of buying real estate in Cyprus

When planning to purchase property in Cyprus, it is worth assessing the state of the real estate market on this island. Here are a few factors that will help you analyze the situation and make the right decision:

  1. There is a very high demand for housing on the island. And it will continue to grow in the future. International companies have adopted the practice of relocating employees to Cyprus.
  2. The cost of housing is constantly rising and this trend will continue for a long time. The reason is increased demand and lack of good facilities. Modern housing is usually sold out while the house is being built.
  3. You can invest profitably and safely in liquid real estate, the sale of which will not pose any problems. You can also rent them out and receive a stable income. These are modern studios, comfortable 1- and 2-room apartments. But premium class properties are not suitable for investment. You can buy such housing for your own needs.
  4. The cost of properties for sale in Cyprus consists of several factors. In addition to housing size and class, the area matters. For example, in Limassol, real estate costs 30-40% more than in other areas.
  5. It is necessary to involve experienced specialists in completing the transaction: a lawyer, a tax consultant, a real estate specialist.

Benefits of purchasing

It is no coincidence that the demand for real estate in Cyprus is growing. A number of factors contribute to this:

  1. Owning real estate provides grounds for obtaining a long-term visa, and in the future, a residence permit.
  2. Having real estate in Cyprus, you can save money on your vacation, since you will always have the opportunity to stay in your own apartment.
  3. The cost of housing is quite stable, without sharp rises and falls.
  4. By investing in real estate in Cyprus, you can protect your capital, which is especially important in the context of frequent financial crises.

Deal stages

The purchase of real estate occurs according to the following scheme:

  1. Search for a suitable object.
  2. Tax and legal expertise.
  3. Drawing up a purchase agreement.
  4. Checking the availability of the necessary documents and their compliance with the requirements.
  5. Payment of the fee.
  6. Contacting the land commission.