In recent months Cyprus Real Estate as been growing stronger and stronger, by the end of 2017 we saw a 24% increase in sale contract across Cyprus. That being said it’s no surprise that more and more people are visiting the island and when they see how beautiful Cyprus is alongside the value of property increasing, they don’t want to leave. So if you are thinking of making…
View Full Article >The Council of Ministers has wrongly decided that there will be no rent increase for properties that fall under the Tenancy Law. The decision concerns the period between 22/04/2017 to 21/04/2019. What is the message sent to both local and foreign investors with this decision? The 1983 Tenancy law regulates properties built before 2000 in specific controlled areas and for which there is no rental agreement…
View Full Article >We have revised the original article with the same title in order to simplify and amend relevant information for ease of the reader. It is amazing how many potential buyers, ready to sign a contract, have so many unanswered questions about the terms of housing loans. We thus decided to offer advice to new borrowers who need help in order to de-codify the complex loan schemes that banks present A bit…
View Full Article >To get their license, real estate agents must have a university degree, work for a licensed real estate agent and pass the relevant exams. All these pre-requisites aim to safeguard both the buyer as well as the seller involved in a property transaction. Reality shows that agents’ services are not employed to the degree they should be, leaving people unprotected. Protection when a real estate agent…
View Full Article >A new, safer and more productive investment approach is now available as a result of newly enforced legislation. The traditional way of investing in real estate would be for someone to spend €100,000 or more to buy flat(s), office space or shops and rent them out. The average rent return (yield) in Cyprus is relatively low, ranging at about 3% for houses, 4% for flats and 5% for commercial properties.…
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