On the Crossing of Continents

Cyprus is situated in the north-east Mediterranean on the crossing of three continents - Europe, Asia and Africa. This strategic location ensured development of the island as an international business center with high-quality service, vast infrastructures and great deal of entertainment facilities. Living and business conditions there are more than comfortable. Cyprus differs from most developed countries by its minimal crime rate, high living standards and relatively low prices. That's why many tempted foreigners are buying real estate there.

For many years this island has been a second home for many people coming from all over the world. Those who've never been to Cyprus should really go and see what it's like. During 320 days in a year the island is cherished by caressing sun. Cyprus is washed by waves of Mediterranean Sea that gave life to gorgeous Aphrodite, according to ancient Greek myths.

Foreigners can by properties or land lots for construction activities on the invariable property right basis. Long-term rent is hardly ever practiced in Cyprus. After setting the sale agreement the buyer will face a simple formal procedure with the lawyer. All that is necessary is to hand in an application to the Council of Ministers that will approve the purchase.

Since the buyer pays the full price for the property he receives the paper on the transfer of ownership. What are the expenditures that a real estate buyer will face when purchasing a property in Cyprus?

Firstly, the transfer of ownership fee? It's a lump-sum paid to the Department for Estate Registration. It constitutes around 3.9 percent of the property price.

Secondly, the annual property tax? It's necessary to admit that real estate priced lower that 100,000 Cyprus Pounds (around $210,000) that belongs to a private person requires no annual property tax payments.

Stamp duty on sale agreement is estimated at 2.5 Cyprus Pounds per one thousand of value, while if the property costs more than 100,000 the buyer will pay 2 Cyprus Pounds per thousand.

The county tax ranges from 30 to 100 Cyprus Pounds depending on the property size. The tax covers expenses on garbage cleaning and street lighting.

The judicial system in Cyprus inherited the British one guaranteeing secure buyer's rights on different levels. Thus, the sale agreement cannot be breached by anyone except for the buyer himself. The seller is not allowed to sell, rent out or pawn the property since then.

Learn more about real estate in Cyprus by reading the articles below

Beware! Illegal real estate in Cyprus ( http://www.realestategates.com/Articles/20092004/Illegal_RealEstate_Cyprus0001.html ) Illicit regime implemented on the occupied territories allows and promotes illegitimate buying and selling

Beating carpets and hanging linens outdoors can now cost you about $100 in Cyprus ( http://www.realestategates.com/Articles/31082004/article98763.html ) New system of penalties will make Nicosia a beautiful European city.

Author: Cameron Lindblom, Real Estate Gates ( http://www.realestategates.com )

In The News:

This RSS feed URL is deprecated, please update. New URLs can be found in the footers at https://news.google.com/news

Forbes

Evaluate This Factor To Find The True Winners Among Today's Hottest Real Estate Markets
Forbes
As the presence of social media, instant messaging and “smart” devices continue to encroach on our physical, non-digital lives, I have observed that real estate markets are becoming hyper-localized, even more so than they were in the past. Any real ...


The Boston Globe

What your money gets you in Greater Boston real estate
The Boston Globe
24 BASSET STREET / LYNN Listing Price: $400,000. Square Feet: 1,308. Lot Size: 0.07 acre. Bedrooms: 3. Baths: 2 full. Tucked away behind larger homes and down a private driveway, this 1880 Colonial in Lynn's Diamond District packs a lot of rooms into ...


Dallas News

Top D-FW commercial real estate deals for the week of April 16
Dallas News
A developer has purchased six acres on the northeast corner of U.S. Highway 75 and Legacy Drive in Plano. The new owner Three VP Texas LP plans to build a WoodSpring Suites Hotel and retail on the property. JLL's Chris Gibbons brokered the sale. An ...


Bloomberg

Lisbon's Real Estate Market Hasn't Peaked Yet, Investor Says
Bloomberg
Paula Amorim, the Portuguese investor who's chairman of oil producer Galp Energia SGPS SA, doesn't think Lisbon's booming real estate market has peaked yet as she plans to invest in offering new luxury services. “I don't think the market has reached a ...

and more »

San Antonio Business Journal

Carmen Bean ranked No. 1 on Residential Real Estate Individual Agents list
San Antonio Business Journal
What factors will have the greatest impact on San Antonio residential real estate sales in 2018? The bullet train between San Antonio and Austin will be a significant impact on the San Antonio housing market. This will provide commuters from Austin the ...

and more »

Forbes

9 Ways To Invest In Real Estate Without Buying Property
Forbes
Last year's housing market was one for the record books, with the gains partly driven by tightening inventories and exceedingly low mortgage rates. In some pockets of the country, housing prices rose well over 10 percent on average. But, it's not only ...

and more »

Real estate daily market update: April 19, 2018
Inman.com
We'll add more market news briefs throughout the day. Check back to read the latest. Most recent market news. Thursday, April 19. Zillow Mortgage Rate Ticker. The 30-year fixed mortgage rate on Zillow Mortgages is currently 4.25 percent, up six basis ...

and more »

Curbed Philly

Philly Real Estate Week hopes to bridge information gap
Curbed Philly
A first annual Real Estate Week is coming to Philly this spring, and with it, organizers are hoping to bring lesser-known information on urban planning, home ownership and the structure of the city to the public. The week, which will be held June 4 ...


Richmond.com

HandCraft Cleaners building in Scott's Addition wins real estate project of the year
Richmond.com
The owners of HandCraft Cleaners were considering selling their building in the Scott's Addition neighborhood in early 2015. The company had used most of the building for industrial laundering operations from 1983 until it completed the move of those ...

and more »

Seeking Alpha

Stocks, Bonds, And Real Estate: The High Probability Of A Wealth Effect Reversal
Seeking Alpha
What might one anticipate from an increase in the supply of government debt and a reduction in demand? It could mean higher yields and higher associated borrowing costs to attract other buyers to step up. With the 10-year U.S. Treasury trading 50 basis ...

and more »
Google News

What are the Elements in Real Estate?

Each element has a specific color associated with it. Because... Read More

10 Frequently Asked Short Sale Questions

1. What happens to the seller's credit rating when they... Read More

Real Estate Investing Works In Your Area Too!

I hope you had a spectacular weekend!Things have been going... Read More

Buying Property in Spain - How to Avoid Paying over the Odds

Spain has a lot to offer Northern Europeans and until... Read More

Finding The Perfect Maui Home For Sale

If you are thinking of relocating to Maui, this article... Read More

Panama is Hot - A World Class Retirement Haven Thats Ripe For Profitable Real Estate Investment

If you've followed any of the major survey agencies around... Read More

High Profit Real Estate Investing--Make a Good Deal Every Time!

Knowing what a Good Deal is ? Is the Key... Read More

Home Warranties: Are They Too Good To Be True?

What is a 'Home Warranty?'A home warranty is like an... Read More

Why it is Important to Hire Just One Real Estate Agent to Buy a Home

In our fast paced and frantic real estate market, buying... Read More

Do I Have To Buy Real Estate Through An Agent?

Sometimes when we are very busy professionals and very rich... Read More

How Do I Bring Consulting Into My Lease Purchase Business

As you are making your cold calls on property, you... Read More

Property Investment: Spoiled for Choice in Europes Emerging Markets

You could be forgiven for thinking that property is the... Read More

Real Estate Investing In Belize

Any trip to Belize starts fantasies of owning a beach... Read More

3 Mistakes to Absolutely Avoid in a 1031/TIC Exchange

We've all made bad decisions in the past. Don't you... Read More

The Echo Boomers - The Next Big Consumers

The Echo Boomers or Generation Y currently make up about... Read More

Building A Home? Want To Ask A Builder The Right Questions - Not The Dumb Ones!

These are real builder questions that I got from readers... Read More

Escalation Clauses ? A Home Buyers Secret Weapon

Today we discuss escalation clauses because much of the country... Read More

Popping The Real Estate Bubble Myth!

If you turn on the TV, listen to the radio,... Read More

How To Give Yourself A $20,000/Year Raise Without Asking Your Boss

Why without asking your boss? Two reasons, one, he or... Read More

Landscaping Adds Great Value to Real Estate And Helps You Sell

Over the years several of our clients have had professional... Read More

Real Estate Investing Myths That Steal Profits From Your Pocket

One of the things that distresses us about our industry... Read More

An Often Overlooked Secret of Marketing and Negotiating for Real Estate Investors Looking for Deals

When you call sellers, what do you say? When you... Read More

Old House? New House? Weighing Your Options

Maybe it has something to do with a childhood home... Read More

Think You Can?t Afford Your Own Home, Think Again!

Do you have bad credit, no credit, filed a bankruptcy,... Read More

Conditions Are Right For Buying The Higher Priced Home You?Ve Always Wanted

Higher interest rates and home prices in the past have... Read More