When is the right time to buy or invest in a luxury villa in Cyprus?
With the luxury property market in Cyprus prone to fluctuations in prices, what is the best strategy for buying luxury villas, golf or retirement property here? The leading property investment expert in Cyprus provides valuable insight! Today in Cyprus, properties are selling for 30% less than they were 5 years ago.
Most potential buyers of luxury and golf villas in Cyprus are quite happy to sit on the fence and see if, by waiting, for another year, property prices will drop further. The reality is that prices have pretty much stayed the same for the last 16 months, with very few price drops. Vendors, will only accept what they feel their property is worth and with prices at rock bottom, do not expect further dramatic price reductions.
The Reality of luxury villa availability in Cyprus
Since the property sales recession began, luxury developments have slowed down considerably. This is for 2 main reasons. The first being, is that developers have been consolidating their cash rather than building more unsold properties. Secondly, and most importantly, if you talk to any luxury property developer on the island today they will tell you how scarce prime location building land has become. The moral of the story is that there are far less, excellent property prospects in Cyprus than most potential buyers perceive. Also, most property agents are presenting just about any property as prime location and investment property, when this is simply not the case. Our firm advice to potential buyers is, get relevant advice on the best property and areas to buy in Cyprus, make a reduced offer on the property of your choice, and then watch the property frenzy over the next few years.
Let us take the Aphrodite Hills golf resort as an example. Some buyers are hesitating at present, even though with every single property on sale here today, there are only very few decent bargains to be had. again, we are looking at a supply and demand scenario, whereby, when the market even slightly picks up, these properties and prices will be a distant memory. In addition the entire resort is practically full with property as there is a 10% building density law on all golf courses in Cyprus. Those with the cream of property in prime locations will see the best value investment and returns, over the next few years. Prime location property is in high demand just about anywhere in the World, and Cyprus is no different.
Beach and sea front luxury villas purchase advice
Should you be considering buying a luxury villa in Cyprus on the beach or in most prime locations then this is the RIGHT advice. Do not listen to those agents who say to wait until property owners in Cyprus become
so desperate to sell their property that they will give them away to you next year. This is terrible advice for
many reasons listed below.
> Cyprus is an island and a popular one at that, prime location land is pretty much non existent as any luxury property developer will tell you it is going for a premium.
> Prices on said land and property have risen all the way through the recession with no exception and while there may be, unsold properties on many cheaper developments here this does not apply to beach
front and other prime location property.
> Due to the shortage of land when new developments do surface, they are increasingly compact and provide less value for money every year.
> Rarely do resale villas or apartments actually come to market in these coveted locations, another
sign that owners of prime location property are not desperate to sell.
The moral of the story is, there are very few great luxury villa developments dotted around the island
and the buyers who have the courage to buy now, will pay far less than leaving them for another year.
A luxury villa in Cyprus bargain
The few Cyprus luxury villas, worth buying or investing in, are sitting at great prices due to the recession over the last few years and will provide an extremely astute bargain purchase or incredible potential investment, depending on where you purchase this property. Not only this, but many property owners are willing to accept substantially lower than asking price offers. So get your dream villa before someone else does.
For the right advice on the right property in the right location, do not hesitate to contact us and acquire some of the finest property options in the whole of the Mediterranean region.
With the luxury property market in Cyprus prone to fluctuations in prices, what is the best strategy for buying luxury villas, golf or retirement property here? The leading property investment expert in Cyprus provides valuable insight! Today in Cyprus, properties are selling for 30% less than they were 5 years ago.
Most potential buyers of luxury and golf villas in Cyprus are quite happy to sit on the fence and see if, by waiting, for another year, property prices will drop further. The reality is that prices have pretty much stayed the same for the last 16 months, with very few price drops. Vendors, will only accept what they feel their property is worth and with prices at rock bottom, do not expect further dramatic price reductions.
The Reality of luxury villa availability in Cyprus
Since the property sales recession began, luxury developments have slowed down considerably. This is for 2 main reasons. The first being, is that developers have been consolidating their cash rather than building more unsold properties. Secondly, and most importantly, if you talk to any luxury property developer on the island today they will tell you how scarce prime location building land has become. The moral of the story is that there are far less, excellent property prospects in Cyprus than most potential buyers perceive. Also, most property agents are presenting just about any property as prime location and investment property, when this is simply not the case. Our firm advice to potential buyers is, get relevant advice on the best property and areas to buy in Cyprus, make a reduced offer on the property of your choice, and then watch the property frenzy over the next few years.
Let us take the Aphrodite Hills golf resort as an example. Some buyers are hesitating at present, even though with every single property on sale here today, there are only very few decent bargains to be had. again, we are looking at a supply and demand scenario, whereby, when the market even slightly picks up, these properties and prices will be a distant memory. In addition the entire resort is practically full with property as there is a 10% building density law on all golf courses in Cyprus. Those with the cream of property in prime locations will see the best value investment and returns, over the next few years. Prime location property is in high demand just about anywhere in the World, and Cyprus is no different.
Beach and sea front luxury villas purchase advice
Should you be considering buying a luxury villa in Cyprus on the beach or in most prime locations then this is the RIGHT advice. Do not listen to those agents who say to wait until property owners in Cyprus become
so desperate to sell their property that they will give them away to you next year. This is terrible advice for
many reasons listed below.
> Cyprus is an island and a popular one at that, prime location land is pretty much non existent as any luxury property developer will tell you it is going for a premium.
> Prices on said land and property have risen all the way through the recession with no exception and while there may be, unsold properties on many cheaper developments here this does not apply to beach
front and other prime location property.
> Due to the shortage of land when new developments do surface, they are increasingly compact and provide less value for money every year.
> Rarely do resale villas or apartments actually come to market in these coveted locations, another
sign that owners of prime location property are not desperate to sell.
The moral of the story is, there are very few great luxury villa developments dotted around the island
and the buyers who have the courage to buy now, will pay far less than leaving them for another year.
A luxury villa in Cyprus bargain
The few Cyprus luxury villas, worth buying or investing in, are sitting at great prices due to the recession over the last few years and will provide an extremely astute bargain purchase or incredible potential investment, depending on where you purchase this property. Not only this, but many property owners are willing to accept substantially lower than asking price offers. So get your dream villa before someone else does.
For the right advice on the right property in the right location, do not hesitate to contact us and acquire some of the finest property options in the whole of the Mediterranean region.
Cyprus Luxury Villas Current Purchase Information 2012,
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