The sea and the sun are the first images someone has when thinking of buying a property in Cyprus. Furthermore, Cyprus is an island with a great history and warm and caring people. Cyprus falls to a European standard of living, but the cost of living is less than most of Europe, making the dream of buying property in Cyprus come true. Everyone wants a dream holiday home in the sun and there are few places better than Cyprus, especially when it comes to winter and summer destinations. Even in the dead of winter, the average high temperature is 16 degrees, providing a welcome respite for visitors from the cold of northern Europe.
Buying a property in Cyprus can be a very pleasant and stress-free experience. As in many other EU countries, buying a property in Cyprus is a very easy and straightforward procedure. As long as you hire a lawyer specializing in real estate matters, you don’t have to worry. Buying a property in Cyprus is an excellent investment, especially for those looking for a holiday home or investment property. Since Cyprus became a full member of the EU, its economic growth has progressed steadily, resulting in increasing popularity.
If you are thinking of buying a property in Cyprus, now is the time to do it. With ambitious plans to build new tourist attractions that include 10 major golf courses in addition to the three already open, two new marinas, yacht clubs and sports centers, the island’s future is bright.
While buying property in Cyprus is an attractive option, there are certain legal and procedural aspects that need to be taken into account; Loans and Mortgages. Banks in Cyprus have more or less the same policies. As long as you can contribute around 25-30% of the sales price and your net monthly income is twice the proposed monthly dose, you can get a mortgage to buy property in Cyprus.
When you buy a property in Cyprus, also keep in mind the additional costs you will have to face, such as lawyer’s fees, stamp duty and transfer fees. Although these costs are lower than in many other European countries, it is good to keep them in mind when setting your budget for buying property in Cyprus.