With 15% deposits, 3 years deferred interest, a low break-even on lettings and a high growth potential, Buy to Let Mortgages in Cyprus are ideal for investors
Buy to Let Mortgages in Cyprus are the ideal investment tool
During the past couple of years, foreign investors have begun to favour properties in Cyprus for their high growth potential. This growing demand has resulted some larger developers introducing a special range of Buy to Let Mortgages in Cyprus, designed to lower the cost of investing and maximise growth potential. Contact us now for full details about this outstanding mortgage offer.
Whether as an investment or private residence, find your ideal home here
PLEASE NOTEthat as from the beginning of September 2007, the Central Bank of Cyprus has imposed certain conditions on the investment mortgages mentioned on this page.
For more information, pleasecontact us.
The following is a projection of an investment's maturation process during the first eight years after buying a property in Cyprus by means of a Buy to Let Mortgage and taking advantage of the initial 3 year deferred interest period to cover the property's construction phase.
Profit Projection
(based on the property being sold after eight years)
Purchase Price: 15% Deposit 5% on Completion
Annual Appreciation of 9%
Value after Year One:
Value after Year Two:
Value after Year Three:
Value after Year Four:
Value after Year Five:
Value after Year Six:
Value after Year Seven:
Value after Year Eight:
Gross Profit (Pre-Costs):
Costs
Mortgage & Government Setup Fee:
Legal Fees:
Others (Including Stamp Duty):
Deferred Interest during Construction Period:
Full Furniture Package:
Full Loan Amount, including Costs:
Interest Only Repayment per Annum: Other Running Costs per Annum
Association Fee (Includes Insurance):
Property Taxes:
Electric: Total Costs per Annum:
Break-Even stands at eighteen weeks of rental at £250 per week (
Final Profit Projection (considering break-even)
Gross Profit:
Transfer Tax:
Resale Commission (3%): Grand Total:
* 487.1% profit on initial outlay (£20,000) ** based on 3 years average Swiss Libor + 1.75% *** 442.5% profit on initial outlay of £20,000
Some facts about these Buy to Let Mortgages in Cyprus
Essentially, this particular package is a low-deposit (15% + 5% on completion) 35 year flexi-mortgage which, by special arrangement, allows the borrower to defer all interest during the initial construction period of three years.
Furthermore, when repayments commence, one month after the property's completion, the borrower is then able to make interest-only repayments and defer the mortgage's capital for up to 5 years. So, by the time the property is sold, eight years after the purchase, no capital repayment has as yet been due; truly an investor's dream.
Additionally, since interest rates, based on current trends, are likely to be as low as 2.95%, and the break-even point on lettings is only eighteen weeks per year*, the above projection of 442.5% net profit on the initial investment of £20,000 is entirely realistic.
*The average holiday rental property in Cyprus is occupied for 21 to 22 weeks per year, thus making an 18 week target more than realistic.
Contact us today for information about buying a home in the sun and buy to let mortgages in Cyprus
Packed with leisure facilities and historical monuments, Paphos has long been the playground of Cyprus, and currently, three of the four golf courses operating in Cyprus, are located in the Paphos region.
During the next few years however, Paphos and its surroundings are set to see the construction of an even greater number of leisure projects including an ambitious and highly exclusive marina in the Coral Bay area, as well as a number of new golf courses around the region.
These new courses are part of the Cypriot government's firm intent to put Golf in Cyprus on the international golfing map once and for all.
As one of the leading property specialists in Cyprus, we are proud to present you with a stunning range of golf properties across the island.
Favourable Taxes in Cyprus
With an ever increasing tax burden in the UK, a growing number of investors and retirees have been looking further afield where investments or retirement properties are concerned.
This is where the Republic of Cyprus finds favour with many prospective buyers from the United Kingdom. Aside from the superb climate and the fact that most people speak English, the Republic also boasts one of the most favourable tax regimes to be found anywhere in Europe. Indeed, where Cyprus Tax Matters are concerned, both on income tax and at capital gains level, things are far more favourable than they are in the UK.
Foreign Currency Exchange
Another means of saving substantial amounts on the cost of your property, is the use of a Currency Broker instead of your local bank, when buying foreign currency and transferring it abroad.
Unlike a traditional bank, a currency broker does not charge commissions or transfer fees, and also offers a better rate of exchange than any bank.
Disclaimer. The prices quoted on the properties featured
in this website are displayed as guidelines only. They constitute
neither an offer nor contract, nor part of same. E&OE
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