Liverpool, United Kingdom (PressExposure) October 13, 2009 -- Cyprus is one of the favoured property investment destinations for the Brit investors. Situated in the southeast of this beautiful country is Paphos, the mythical birthplace of Greek goddess of love, Aphrodite. The whole of Cyprus, and Paphos in particular, is teeming with tourists all the year round. Largely a peaceful and laidback country Cyprus is looked upon as an ideal investment destination for off-plan property by not just Brits, but also people from all over the world. Paphos is one of the most visited places in Cyprus due to attractions, like year-round sunshine and remains of Roman Governorâs Palace with its fine mosaics. Paphos is also a part of UNESCO List of Cultural and Natural Treasures of the Worldâs Heritage.
Off-Plan Property Investment Advantages in Paphos
Investment opportunities are immense in and around Paphos region in southern Cyprus. The demand of all kinds of property in Paphos is always high due to the overall attractive features of Cyprus. And off-plan property, i.e., property under construction, always attract buyers.
Some of the advantages of buying off-plan property in and around Paphos region include:
â¢ Cost-effectiveness, i.e., your investment is relatively much lower than the built-up property. Itâs also a lot lower than the prevalent prices in the UK real estate market. Investing in Paphos off-plan property can easily save up to 20% of the cost of built-up property. â¢ Paphos property market is always bullish. A substantial rise in the value of off-plan property by the time it is complete, is almost always guaranteed. â¢ The whole country of Cyprus is a tourist hotspot. So, even if you donât want to relocate in Cyprus, you can always use this low-cost off-plan property as a temporary abode or even rent it for a handsome regular income every month. Holiday rental will definitely fetch more than long-term let, but both the options have pros and cons, which must be weighed before finalizing your decision. â¢ Cyprus is a EU member since 2004, and this opens up vast real estate opportunities in tourist hotbeds, like Paphos. Off-plan property investment in and around Paphos would cushion you if you havenât decided yet about permanently moving to Cyprus. By spending a little amount, you are virtually, assured of a high returns yielding investment, either short-term or long-term. â¢ With a large English-speaking population of Paphos, the entire exercise from scouting to registration of off-plan property is smooth for Brit investors. â¢ Off-plan property in Paphos makes sense even in worst-case scenario, when the property canât be sold on completion. The developer can easily finance the final balance due. â¢ The assured rental income from the finished off-plan property would also take care of your loans you may have incurred to buy the property in the first place. Banks in Cyprus offer easy loan options for overseas off-plan property investors. â¢ Paphos is one of the most vibrant real estate markets in Cyprus. More and more developers are offering ultra-modern comforts at lower prices for the off-plan property investors, due to stiff competition. Thus, you are assured of the best deal for your off-plan purchase. â¢ Attractive tax structure and avoidance of double tax treaties with several countries is another USP of Paphosian off-plan property.
Off-Plan Property Investment Options in Paphos
Multiple off-plan property investment options exist in Paphos region of Cyprus. Since the area has tourism as numero uno industry, holiday homes are the favoured ones. This high-yielding segment of off-plan property in Paphos has seen the maximum transactions during the past few years. The vacation property can either be let on a monthly or customized basis, or can be used as temporary residence or second home, by the Brit investors. The rental income projections for Paphos vacation property indicate bullish trends. Even though overstated by many, yet rental income is certainly one of the alluring characteristics of the cheap off-plan property in Paphos.
Similarly, thereâre some high-end villas and mansions available off-plan in Paphos. Obviously, they will cost a little more than a simple residential or holiday home. But this investment is bound to fetch you much more returns than any of the investments, through either rental or resale returns. With an investment between Â£100K and Â£250K, you can own a variety of high-yielding off plan Paphos property [http://www.azureoverseas.com/cyprus/] .
Before finally deciding to invest your hard-earned money in any kind of off-plan property in Paphos, make sure that developer possesses all clearances and permits for the project. If possible, visit the place before placing your final order to see the location of the proposed development for yourself. It may happen that the developer has got land at throwaway prices in a remote location in Paphos and trying to make a quick buck by selling a dream! With some diligence, the security of your investment in off-plan property in Paphos is assured.
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