| Cyprus's real estate and property market is booming | | | | enforceable in 2008 which will unavoidably increase |
| dramatically due to the continuous work of | | | | real estate market across the island. |
| construction companies who invest large amounts of | | | | At the moment there are numerous options ranging |
| funds towards infrastructure development. With the | | | | from apartments to villas and luxury houses to |
| aid of the European Union as well as foreign | | | | choose from. Banks and Financial institutions have |
| investments property prices have gone up | | | | made available easy loans to finance property |
| dramatically. | | | | purchase in Cyprus to foreigners in both foreign |
| Cyprus property market has being said to be one of | | | | currency and Cyprus pounds. Loans available cover up |
| the fastest growing property markets in Europe. As | | | | to 70% of the property value and can be negotiated |
| reported by many agencies sales investment | | | | to 80%-85%, if the construction is new. |
| property is indeed one the of the most popular | | | | The repayment period ranges from 15 to 20 years, |
| options exercised by local and foreign investors. Due | | | | meaning you wont be caught in endless mortgage |
| to it's radical growth, the tourism industry has made | | | | payments. A typical housing property in Cyprus gives |
| very feasible the process of 'buy to rent'. The way it | | | | a yield of 8%, which in net after deduction of all |
| usually works is very similar to the US time share | | | | charges comes out to be 5% and is sufficient to |
| market, people spend their holidays in their apartment | | | | cover mortgage. As expected, European Union |
| in Cyprus, once that period has passed they go back | | | | membership has made property ownership in Cyprus |
| to their home country and rent it out once again. | | | | easy and rental returns are going strong with better |
| As you can imagine, real estate companies are the | | | | prospects in future. |
| ones organizing all of these special arrangements. One | | | | Cyprus property can be acquired after completing |
| of the safest and friendliest destinations to buy a | | | | and submitting a "permission to purchase" application |
| home is Cyprus, this country's legal system is | | | | with the Council of Ministers. Every foreign investor |
| organized in such a way that resembles UK's system | | | | needs to go through this process, in order to |
| which makes it easy for foreign buyers to obtain | | | | purchase property in Cyprus which is not not a very |
| investment properties. Due to these advantages | | | | restrictive method. An investor can purchase up to |
| Cyprus has become an exclusive location for working, | | | | 4000 square meters of land plus an apartment or |
| retiring, raising a family or investing. According to this | | | | house which covers the needs of most property |
| country's regulations a value added tax (VAT) on | | | | investors. |
| property related transactions is to become | | | | |