Cyprus – Aphrodite’s Island in the Sun
Cyprus, the sun soaked holiday island is situated at the eastern end of the Mediterranean. It is the third largest of all the Mediterranean islands after Sicily and Sardinia and measures 240km from west to east and 96km from north to south. With a population is about 700,000, Cyprus is served by approximately 30 major airlines with links all over the globe. Greek is the mother tongue, but English is the second language and the climate is one of the best in Europe.
Cyprus joined the European Union on May 1st 2004 and may join the Euro in 2007. It is also a member of the Commonwealth and the United Nations. Since 1974, the island has been divided in two, the Greek Cypriot southern half and the Turkish Cypriot northern half.
Cyprus’ accession to the European Union on May 1st 2004 provides an excellent opportunity for superior returns in the property market and here’s why:
In association with our property development partners,we have developments throughout Southern Cyprus, in Larnaca, Protaras, Agia Napa, Paralimni, Derynia, Nicosia and Paphos.
Prices start at CYP39,000 and rise to over CYP1m.
We also have a strategic partnership with a leading Eastern Mediterranean hotel chain which enables us to secure guaranteed rental schemes, which in some cases deliver 1% per month gross yield.
Our partnership offers the best investor packages on the island. No other developer offers our outstanding, geared payment terms. Added to fantastic locations and UK quality construction and finishes, it is no coincidence that we are the leading edge company for investment properties in Cyprus.
"The market leading investor finance package in Cyprus"
There are many methods you can use to purchase properties in Cyprus and we strongly recommend that you take independent financial advice.
The normal Cypriot practice when purchasing "off-plan" property is to pay for the building in stages as it is built. We have significantly improved payment terms more akin to the British standard. When buying property through our partners you can spread your deposit payments over 1 year and pay nothing more until paying the balance on completion. In this way, you maximise your Return on Investment (ROI) if you choose to sell before completion to realise a profit.
Our payment structure is 10% on signing the contract, 10% after 6 months and then 10% after 12 months with the final 70% on completion.
On some projects the deposit is 20% with 80% on completion.
Example:
Property price £100,000, deposit spread over 12 months £30,000 (£10,000 after signing the contract, £10,000 6 months later, with the final £10,000 after 12 months)
Property delivered in 2.5 years in a market growing at 15% per annum.
Value after 2.5 years £142,168 then sell for a profit before tax and costs of £42,168.
Return on Investment = 141%
Also with this payment structure, if the Cypriot Pound devalues prior to Euro entry, possibly in 2007, you will gain in sterling terms from that devaluation. With the payment structures offered by many other local developers, i.e. "staged payments" where you pay for the property as it is built - 30% now, 20% as the structure is built, 25% when the roof is in place... then you will lose money in sterling terms, possibly by as much as 15%
If you would like to learn more about how to invest in Cyprus property, whilst minimising risk and maximising gain, then please come along to one of our accessible property investment seminars.
If you choose to buy and then let or live in your property, we can provide you with some of the most competitive mortgage solutions on the market:
Our Cypriot accountant, based in Larnaca, can advise on setting up a Cypriot limited company to take advantage of the extremely favourable 10% Corporation Tax, thus allowing more of your profits to be re-invested. Our accountant gives a detailed presentation and takes many questions during our property investor weekends Cyprus.
Our international tax specialist is available to all of our clients to assist with tax minimisation strategies. This has proven to be a very successful and popular service. Our tax specialist works very closely with our accountant in Cyprus.
We have a high calibre law team based in Paphos who deal with the property purchases of our clients and through whom you receive preferential rates for professional services. Our lawyer gives a detailed presentation and takes many questions during our property investor weekends Cyprus.
Those investors who wish to follow a buy to let or live and let strategy in order to benefit from longer term capital growth whilst earning income, will be interested in the many opportunities available to let their property.
Our major partner, a leading Eastern Mediterranean PLC Hotel Group, has agreed a 7% guaranteed rental scheme for some of our properties, whilst still allowing you to use or let the property yourself, for up to 5 months a year!
Additionally, our partners have alliances with lettings agencies in Cyprus in order to coordinate and target short term lets, longer term lets and the holiday rental market.
Those investors who are seeking a "lifestyle" investment of using the property themselves, but letting it out for additional income when not in use, will find the additional lettings service of particular interest.
Our partners lettings company, based in Cyprus, will market and service your property and provides a complete hands free rental solution. This exclusive service is only available to our or our partners investor clients.
For more information simply complete our contact form or call 01452 741585