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Cyprus Property sales surge

Cyprus Property sales surged by 54% in February compared to the same month last year according to official figures issued by the Department of Lands & Surveys.
This 54% rise in February follows a 2% rise in January and a 13% rise in December 2015.
February saw a total of 501 contracts for the sale of commercial and residential properties and land (building plots and fields) being deposited at Land Registry offices across; the highest monthly figure recorded since May 2014 when 551 contracts were deposited.
Cyprus property sales increased in all districts, with Limassol leading the way with an 85% increase in sales compared with February last year. Sales in Nicosia rose 76%, while those in Larnaca, Famagusta and Paphos rose by 52%, 30% and 18% respectively.
During the first two months of 2016 sales have risen 28% to reach 828. This exceeds the number of sales during January and February of 2013 that preceded the island’s bailout.

This significant Cyprus property sales surge in demand for property may be attributed to lower lending rates being offered by the banks and simpler procedures for granting loans, together with an improving economic climate and consumer confidence.
In the coming year we expect to see structural changes implemented to accelerate the issuance of Title Deeds. Whether this will enable Title Deeds to be issued by the time a purchaser takes delivery of a property remains to be seen; but things are moving in the right direction.
We will update this article with a further analysis of the sales statistics as soon as the Department of Lands and Surveys publishes the figures.

Need a lawyer in Cyprus

 
If you are serious about buying a property for sale in Cyprus, you will want to make sure that you have a Cyprus property lawyer who you can trust from exprienced recomendations.
 
This is the only person who can effectively protect your interests and guide you through all the requirements of purchasing property in Cyprus.  You need someone who is unbiased and is only serving you, not the other party in the transaction.
 
Make full use of this professional and don’t hesitate to ask questions. The lawyer should ensure that the property purchase is clear from mortgages or ties etc,  with no unpaid debts attached to the estate. Furthermore, don’t sign any contracts or hand over any money until the action has been approved by the lawyer.
 
Once you do locate a suitable piece of real estate, there is another process. As a foreigner, you will have to apply for permission to buy the property but this is usually just a formality and  your lawyer can help you through the process.
 
We know and trust a lawyer so contact us for further assistance.

 

 

 

A new life in the Cypriot sunshine photo

 

Seven reasons to invest in Cyprus property and real estate

1, The Sunshine virtually every day:

With less than 20 days of predicted rainy weather, Cyprus is a far cry from England’s much cooler climate and something many British people find very attractive.

2, Property is up to 30% lower than in 2008

Now is the time for cash rich investors or people who did not over spend prior to 2008 to capitalise on the marked reduction in cost of property on Cyprus; Bargains are to be had on the Island and this has seen Britons thinking even more seriously about that move to Cyprus.

3, Cyprus economy less affected than much of Europe

Cyprus’s economy has seen a hit in tourism levels and its construction sector, which is to be expected, but as in recent news, Cyprus has been shrewd thinking about the future by starting to diversity its economy into exports, offshore oil and other sectors such as finance. Coupled with its inherently safe banking practices that minimises its banking sectors exposure to bad debt, Cyprus remains a strong economy and most would agree by and large well under control.

4, Excellent schools

Cyprus offers a wealth of good schools with state funded institutions providing good levels of education and also a growing number of private schools of an international flavour allowing for private education to world class standards for any British raising a family in Cyprus there educational options are fantastic for children.

5, Low Taxation

On a personal and business level Cyprus offers an exceptionally low level of taxation with corporation tax for business at 10% and personal tax at the same level but not kicking in until you have actually earned €19500 above €19500 tax starts to be paid at a pretty average 20% and raises in increments to a maximum tax threshold of 30%.

6,  Paphos marina development will be a jewel in the crown for the Eastern Mediterranean

Although things are somewhat in the air regarding this exciting development, when the dust settles and the building starts the end result will be one of the most impressive marina developments in Europe rivalling that of Monaco with space for 1000 yachts. This will leave the area around Peyia & Paphos & areas towards Coral Bay as serious real estate investment opportunities.

7, Excellent healthcare

As a European Union member Cyprus offers on par health services as the rest of the developed world with the Cypriot government giving top priority to its continued improvement, with an ageing population the Cypriot government has started to offer incentives to companies in order to bring in more advanced treatments and technology to maintain its record as providing a good quality health care for all.

If you want a better environment with year round sunshine and an escape from all the taxes and big brother attitudes of British governments, now is the time to start looking for those bargain buys with Cyprus Property for sale being a good investment. It is such a good place to invest and potentially relocate to from a broken Britain.

 

 

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