Cyprus Apartments And Living The Cyprus Dream

Few people will argue against property being a great investment and a Cyprus apartment either as a holiday home or a long term project is no exception. Traditionally property always seems to be just that little more expensive than you think you can afford in terms of loan or mortgage repayments and this is usually enough to put most would be Cyprus apartment owners off before they even get started. There are however ways to overcome such barriers even for Mr and Mrs average buyer if you do some homework before hand. As the old saying goes "there is more than one way to skin a cat" and the same goes when buying a Cyprus apartment.

Most folks will have some equity in their prime residence against which they could raise at least enough for a 20-30% deposit against an apartment in Cyprus without it costing them the earth in extra repayments on their mortgage. It is argued that the cheapest way to borrow over the long term is by this form of raising capital against your existing property. weight loss programs securing extra borrowing against the family home should always be approached with caution and forethought. But at least they would be investing the money into a Cyprus apartment which should in turn build equity into that investment rather than buying disposable items like cars or holidays that will show no return whatsoever.

Cyprus house prices slip by only 0.4% in Q2

House prices in Cyprus held up in the second quarter compared to other European markets and despite worsening global and local economic conditions, according to the latest quarterly BuySell Home Price index.
In the period April to June 2008, the BuySell Home Price Index recorded a marginal decrease of 0.4% compared to the first quarter, bringing the year-on-year increase to 12.9%.
Home prices rose by 0.3% in April, 0% in May and declined by 0.7% in June.
The increase since January is 2.8%.
The BuySell Home Price Index closed at 143.02 (June 2008), bringing the average home price in Cyprus to EUR 190,391 (CYP 111,431).
The BuySell Home Price Index was created and is updated monthly on behalf of BuySell Cyprus Real Estate by MAP S. Platis. The Index is announced quarterly and depicts the movement of prices at which residential properties are sold in Cyprus, based on the extensive BuySell Cyprus Real Estate database.

Prices are low and land rights are being addressed but is it safe to buy in Northern Cyprus?

Cyprus has long been a favourite for British holiday home owners and now, after decades of uncertainty, the north of the island is becoming as popular as the south.

It is 34 years since the Turkish invasion of the northern third of the island. But today, people can easily move between the Turkish north and the Greek south, and there are relatively few signs of conflict – indeed, the line dividing the communities is itself a tourist attraction. Although the north remains less affluent than the south, all areas have seen major infrastructural improvements as their economies have grown in recent years.

Northern Cyprus covers 3,300 sq km and is widely regarded as less developed and more naturally beautiful than the south of the island, with a profusion of beaches and mountain tracks. It has a rich history, is well known for its flora and fauna and notably boasts 38 species of orchid.

Property investors in Cyprus should buy in built-up areas to 'keep risks low'

Investors that are interested in Cyprus have been advised to look for property in areas that have already been developed.

According to property developers, Pafalia, choosing an area that has already been built on will help to "keep the risk low" and should take advantage of Cypriot lawyers to minimise their costs.

Simon Cozzolino, property consultant at Pafalia, said: "Use a Cyprus lawyer because it will halve your costs."

He continued: "Don't buy in the middle of nowhere; buy in an already developed area to keep the risk low."