cyprus villas with pools
Most buyers of Cyprus property dream of owning a groundbreaking new luxury villa or apartment built off plot. They then have a choice of kitchens, final finishes and tiling ect which would be to their own particular taste. There are but some real huge advantages in buying resale Cyprus property such as houses and villas that are not groundbreaking new. Often as not some of the properties that are marketed as resales are in fact also groundbreaking new insomuch as they have never even been lived in. Many of these properties, even those that have been lived in are often less than one year ancient or even newer.
The term resale Cyprus property is used to describe villas or apartments that have been sold previously to at least one person. These property owners may be speculators or Cyprus property investors who bought the house or apartment off plot. Once the development is nearing completion they then expect to sell the property on at a tidy profit. In fact many speculators will be advertising the sale of these Cyprus resale property lots before they are even completed. These sellers are what some term as “motivated sellers” because they will be keen to go these apartments and villas on. They will be looking to release the capital that is invested in them for the next project.
Much of this type of Cyprus resale property will come with incentives such as fully fitted kitchens complete with white goods and full air conditioning too. Although you will have to place up with someone else’s choice of finishes you could end up making huge savings on the cost of all those extras. Often as not the luxury villas that fall into this category of property sales will come complete with a private swimming pool too. There is a strong likelihood that the investor will have anticipated a need to rent the property out whilst awaiting a buyer. This would clarify the high standard of finishes and the addition of a swimming pool. The strongest rental for villas and apartments in Cyprus is from the holiday rent market where a 3 bed detached villa with pool realizes in excess of £800.00 a week!
For some buyers new just will not do and they will be looking for something that is traditionally Cypriot. These buyers will need to tap into the Cyprus resale property market a small deeper. There are lots of older properties for sale but you are unlikely to find them advertised with the larger Cyprus property agents. Unfortunately most of these larger property agents shun Cyprus resale property because they earn larger commissions from the developers for selling their off plot units. Looking further afield with some of the local estate agents will turn up a better selection of these kind of houses and apartments. Cyprus is a huge Island so there should be something that appeals to most buyers whatever their property preferences.
There is also an added benefit to buying a Cyprus resale property in the form of title deeds. Most Cyprus properties are sold without any title deeds. The reason for this is that the developer receives only one deed for the whole piece of land when he buys it. Once the development is complete the developer then submits the plans to the plotting department who issue individual deeds for each property and this process can take 5-10 years. In the mean time the owners of each property have a contract with the developer giving them entitlement to their properties. Once deeds are issued the property owners will have to pay a tax of around cyp5000 for a cyp160,000 house. The excellent news is that many of these older properties will already have their title deeds saving you the buyer this hidden cost. Just another fantastic reason to buy a Cyprus resale property.
About the Author:
Kevin Moore spends half the year in Cyprus writing regular articles about all things Cyprus including holidays and Cyprus property buy. Take a look at the web site here Cyprus Resale Property
Article Source: ArticlesBase.com – The Advantages of Buying Cyprus Resale Property
House for sale in Paphos Area, Paphos, Cyprus
