Buying a Ready-Built or Resale Home in Cyprus
The vast majority of British buyers visiting Cyprus are looking for off-plan properties, since these traditionally offer the highest returns. Occasionally however, the real bargains are already built.
Why buy a Ready-Built or Resale Home in Cyprus?
There are of course many reasons for buying a home in the sun, whether in Cyprus or elsewhere, but over the years we have found that the primary motivation for most of our clients is to make a medium to long-term investment or even to have the properties they buy act as pensions in later life.
In these cases, a wait of eighteen to twenty-four months during which time the home is built, does not really affect the investment’s schedule in any great way. In fact, recent times have seen the introduction of new buy-to-let mortgages in Cyprus, which enable buyers to actually defer payments for the entire duration of a home’s construction, thus adding a little extra leverage to their investment.
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Our portfolio of properties contains many homes which are ready
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This approach is of course excellent for all those homebuyers taking advantage of the low deposits and mortgage rates currently available, especially on ‘Swiss Frank’ property loans.
But what if you are a cash buyer or do not want to wait up to two years for your new home to be built?
The right off-plan property is of course an outstanding investment whether you fund it with cash or a mortgage. Sometimes however, it actually makes more sense to buy a resale home in Cyprus, or at least one which is in the latter stages of completion, rather than one which is still in the planning stages.
Aside from the fact that a buyer may not want to wait whilst his or her home is being built, there is the fact that on occasion, a construction company is actually willing to sell the last few properties on any given development at a discount or even completely furnished, in order to sell-out the project, so to speak.
In these cases, it is possible for buyers to save substantial amounts of money, either compared to the home’s off-plan price or the cost of furnishing the property once it is complete.
The Aphrodite Property Sales portfolio of homes in Cyprus holds a number of villas and apartments which are ready at this point in time. Due to the occasional nature of these special late deals however, many of them never actually make it as far as our online database, so if you would like further information on these offers or would like to see what is available at the moment, please contact us today.
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