Instead, a great many buyers are now opting for the purchase of building plots
Bringing with it none of the concerns caused by the title deed backlog seen in larger housing developments, the purchase of a tract of land, or a building plot in Cyprus is now perceived by most buyers as not only the safest, but the also the most potentially profitable means of acquiring a property in the Republic.
Zoning laws separating residential from agricultural land are straight forward, as are building regulations in most municipalities. What's more, the majority of ready-made plots in Cyprus are already sold complete with an in-principle building permit. |
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By and large, building plots, and especially larger tracts of agricultural land (at least those zoned with a 10% build density) offer a number of distinct advantages when compared to buying a ready-built home, or an off-plan property.
For starters, there's the privacy factor. Many agricultural tracts sold for building purposes tend to run between 3,000 and 6,000 square metres in size, so there's an awful lot of elbow room, even after a four hundred square metre house is sited on them. Then there's the fact that the having your own villa custom-designed and built offers a unique opportunity to own the perfect home for you. |
Indeed, during the latter half of 2010, quite a few of our clients opted for the purchase of building land instead of a high end off-plan property, as the custom-design process involves a similar timeframe to buying off-plan, but obviously affords much greater scope to create the ideal living space.
And lastly, there's the investment angle.
The simple fact is that a piece of building land, or a plot, bought in the right place still has tremendous medium and long-term investment potential.
Despite the current economic climate, Cyprus' leisure and domestic infrastructure is in for some major improvements during the coming five to ten years. Further Golf resorts are being constructed, no matter what nay-sayers may claim, as is at least one of the new marinas (Limassol). On top of this, the long-proposed Paphos/Polis motorway will begin its construction phase shortly. Its completion will, of course, hail an end to the lengthy travel times experienced by visitors to Polis and the surrounding agrotourism region. |
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And, unlike the wild claims made about the fictional 'Oroklini Golf Course' or the scores of marinas supposedly being constructed all along the coasts of Cyprus, the above examples are real and verified. They are also just a minuscule part of what's really going on in the Republic.
Just wait until Cyprus holds the E.U. Presidency during the first half of 2012...
In conclusion then, 2011 is something of a transition year, when an increasing number of informed homebuyers and investors will be casting their eye towards Aphrodite's Isle, with a view of snapping up a bargain, or securing a prime investment plot in Cyprus.
We don't just want to sell you a property.
We make sure you're safe, satisfied and informed.
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