Cyprus Legislation | Purchasing Property
5 years October 3, 2018
Cyprus Real Estate: Tips for a Fast Sale
Buyers and sellers alike are wary of the current situation with the Cyprus real estate market. While resolution for trapped buyers during 2018 is well underway; it can still be off-putting for those wanting to invest in the Cyprus property market.
However if you looking to sell a property in Cyprus, there will always be people looking to buy, and it’s about making your property the most attractive it can be in comparison to others on the market, even against all the odds of a turbulent housing market.
Here are 6 simple tips to sell your property quickly & effectively in Cyprus:
1. Use online marketing techniques and social media to promote your property
In today’s modern property market, 91% of buyers look up houses online. If you are using an agent, speak to them about their online marketing strategy for your house and monitor their actions accordingly. You can also do this yourself; Facebook is great place to get exposure for your property for free. We would recommend looking up Cyprus-based property groups to get an idea of the casual style of postings.
2. Take high quality photos
Professional and high quality images will attract many people and initial leads, so it really is worth it to spend more on hiring a professional photographer who can help you take the photos accordingly. You could also take them yourself using a professional camera but the quality of the images used to advertise your property are one of the first and most important steps to selling your property quickly in Cyprus.
3. Don’t advertise too far from your evaluation price
A common marketing technique when selling property in Cyprus is to set a high price in the beginning and then to lower it to make potential buyers think they are getting a good deal. However going too high can actually deter purchasers from getting in touch with you about their budget, especially if the price is so high it doesn’t look like a good deal to begin with. Extensive price negotiations could also delay the selling process once you have found an interested buyer, so think twice before hiking up the price.
4. De-clutter & spring clean
When a buyer is looking round a house, they need to be able to imagine themselves living in that house. If your house is filled with your personal belongings, it looks like a less neutral space to work with which can put potential buyers off. Similarly, ensure that the property is well cleaned and looking as good as it can do.
5. Be flexible in your selling approach & style
You should try to adapt to your prospective buyer’s schedule and requirements (within reason) since it’s in your best interest to be open to different approaches. Going a little out of your way can help you a lot.
6. Offer cash back as an incentive
Generally speaking, first time buyers in Cyprus usually have little cash upfront after the initial sale. A nice gesture or final incentive would be to offer a form of ‘cash back’ to the buyer. Cash back can be used to buy new furniture or fittings such as kitchen appliances. Most of the popular mortgage lenders on the island award a 5% cash back as part of the transaction.
Eltoma Property can help you list your home! Contact us for more information or refer to our property upload guide.