Cyprus Legislation | Purchasing Property
5 years March 1, 2019
Should you Sell or Lease your Cyprus Property in 2019?
Cyprus is an extraordinary place to live and is right now a great area to move or let your property as well. In the last 5 months of 2018, the island experienced an expansion of 30% to 6,619 property sales contrasted with 5,361 the same period in the previous year.
Property statistics for Cyprus 2018.
Choosing whether to sell your property and move or lease your property can be a troublesome for this upcoming financial year in Cyprus, as there are a wide range of variables to consider, for example, the current property prices on the market, your fiscal position and alternative lodging arrangements for yourself.
With Eltoma Property’s knowledge of the local property market in Cyprus, we can manage you through the procedure to ensure that you gain the best ROI for your new endeavours.
Selling your Cyprus property
When choosing to permanently part ways with a property, selling is the most common decision, generally because of obvious monetary benefits. Selling a property and getting payment in full means that could then be invested into another property.
As this is so popular in Cyprus, a few purchasers and dealers can experience a delay whilst waiting on other property owner’s paperwork to be processed before the exchange can be finalised and there are notoriously issues with title deed delays. Perhaps you are forever moving from the island and no longer wish to retain property in the area and don’t wish to be in charge of the administration or upkeep of leasing your property.
With the sales of properties increasing rapidly there couldn’t be a better time to put your property on the market. Selling your Cyprus property couldn’t be easier! We will assist you through the whole process, from determining an asking price to the final sale.
With the offers of properties expanding quickly, 2019 couldn’t be a better time to put your property on the market. Selling your Cyprus property couldn’t be a simpler process! Eltoma Property can help you through the entire procedure, from deciding an asking price to the closing sale.
We as of now have numerous desirable properties for sale in Cyprus on our website, your property could be one of them by listing it today.
Lease your Cyprus property
The demand for properties to lease in Cyprus is increasing, the island is developing monetary strength and its optimal Mediterranean climate make it a popular place to study with Erasmus for a few semesters at a time, more than ever the renter’s market in Cyprus is in more demand for young professionals saving to get on the property ladder.
Leasing your property in Cyprus can be an incredible on-going investment, numerous house owners consider this when the property can be leased at a higher monthly rate than the property’s expenses. A short-term move is another motivation behind why you may let your property, for example if you are aiming to return, leasing might be a viable option for you.
Ensure that you are fully informed regarding all Cyprus legislation when considering leasing your Cyprus property. I you are considering leasing your property but are not sure if being a landlord would work for you, you should read up on all the fine print with Cyprus law. Landlords are protected by the many laws in their favour however there are also taxes and other documentation required to be filled out.
Read more about the taxation of rental income in Cyprus,
Read more about other taxes when selling your Cyprus property.
We have local property experts on hand to assist you in the leasing or selling process, contact us for more information.