Kev Moore asked:


It may seem absurd to suggest that there could be distinct advantages in Cyprus property rent rather than purchase but that may well be the case in certain cercumstances. The writer has always been quick to expound the benefits of property ownership in Cyprus especially in relation to Cyprus holiday villas or apartments. However a growing argument for long term rentals in Cyprus particularly by retired couples and even some families too. The great news for them is that there is no shortage of all kinds of properties available to rent all over the Island including the major holiday resorts. The question most readers will be asking however is, are there any advantages to paying rent rather than buying Cyprus property using a conventional mortgage?

A growing number of retired couples are selling up at home and moving to Cyprus to take advantage of the mild climate and more relaxed life style on the Island. These upwardly mobile pensioners don’t want to be tied down by the burden of Cyprus home ownership and prefer instead to rent. They have calculated that the interest on the money from the sale of their U.K. properties is sufficient to cover the rent on a Cyprus property. They are then at liberty to move from place to place with ease, free from any of the hassles involved in buying and selling property. Moreover should they need to return to the U.K. for whatever reason they would still have the benefit of their assets in cash at the bank.

Other older couples have chosen the Cyprus property rent option to avoid such things as inheritance tax and the possibility of the U.K. government liquidating their property assets. This is often the case should they need to go into care or nursing homes later in life. By either giving their property assets to their children or selling them off completely they put them beyond the reach of the Exchequer. The other advantage seen in such an arrangement is the pleasure of seeing their children benefit from their inheritance whilst the parents are still living. With Cyprus and the U.K having reciprocal tax and pension arrangements these couples can even have their pensions paid straight into a Cyprus bank account too.

In the case of Cyprus holiday rental properties there is no sense at all in renting such a house or villa because the rent would be based on the holiday market. The cost of renting these properties on a weekly basis would be astronomical and totally unfeasible for anyone considering a long term contract. Such as people actually moving to Cyprus or wishing to spend the whole winter there. Many Cyprus holiday property owners are willing to negotiate realistic rates for longer term rentals especially during the winter season. The difference in prices between holiday rentals and long term property rent is huge to put it mildly. Long term rent in Cyprus is always a cheaper option because the market is self regulated by the average wage which in turn dictates the real affordability of rents.

The ironic twist is that many Cyprus properties earning long term rent are often on the same street as identical houses generating four times the amount from holiday lets. So if you fancy living in a luxury Cyprus apartment or even a Villa with your own private swimming pool a long term rental could be just the ticket. With the Cyprus property boom continuing unabated there is a huge choice of property available for long term rent and no shortage of willing tenants either. A good proportion of these Cyprus properties will be owned by the former owners of the land because that’s how the developers pay them, with houses rather than cash. So if you like the idea of a home in the sun but don’t want to buy perhaps you should consider a Cyprus property rent.



cyprus property

Kev Moore asked:


If you are thinking about buying that place in the sun you have always dreamt abaout maybe you should take a look at the beautiful paradise Island of Cyprus and in Particular property in Paphos or the surrounding area. Paphos in Cyprus is the only resort on the Islands West coast that remains open throughout the winter months. That’s if minimum daytime temperatures of 16c count as any kind of winter at all. In fact whilst other parts of Europe like the U.K. are shivering at below zero Cyprus is comparably balmy. The clear Mediterranean Ocean remains warm enough to bath in well into November most years and there aren’t many days when it is not warm enough to wear short sleeves. Sure, the temperatures do drop at night during the short Cyprus winter but even then it’s still a whole lot warmer than England. Perhaps this mild climate is one of the reasons so many Brits are buying property in Paphos and settling there especially many retired couples. The cheaper utilities and general cost of living in Cyprus are only a few of the things that continue to attract house buyers to the Island.

The Cypriot people are amongst some of the friendliest you could ever hope to meet anywhere. Their outgoing attitude isn’t just something that’s put on for the benefit of money spending tourist either, it’s just the way they are. Don’t be surprised if once you are settled your Cypriot neighbors insist you join them and the whole family for dinner or a social evening. The life style on the Island is very relaxed even on the larger holiday resorts and Pahos is no exception. Family life is important to the locals and dinners together can be a major event involving many of their relatives. With most of the cooking and eating done alfresco style barbecues are the order of the day and the Cypriots are masters of the art. In fact one could argue that during the summer months at least, the only activitie carried on indoors is sleeping. Then again some folks even chose to do that outside during the long warm summer months.

Property in Paphos is ideal for both investors and those looking for a property for themselves maybe for use as a holiday home or a permanent residence. With new developments springing up all over the Paphos area buyers are literally spoilt for choice. Off plan property purrchase in Cyprus makes great sense. Chances are that as prices continue to rise your new villa or luxury apartment could have increased in value before you even move in. In fact many astute investors have made a tidy profit out of property in Paphos this way over the past few years. There are a lot of resale properties finding their way onto the market too as folks settle elsewhere in larger houses or decide that living abroad is not for them and move back home. These resale Paphos properties are often what is termed as “motivated sales” in so much as the owners want to move them on quickly for one reason or another. In these cases buyers with finance arranged are in a strong position to pick up a property in Paphos bargain.

For those looking to “get their toes wet” before moving wholesale to Cyprus Paphos property rental may be a convenient option over outright purchase. Thanks to the continued development boom on the Island there are plenty of cheap apartments and houses to rent and Paphos is no exception. The rental market on the Island is pretty much self regulated by the average wage apart from properties let out to holiday makers of course. Cost of renting in and around the Paphos are are substantially lower than anything you would expect to pay in the U.K. Bearing in mind that you won’t find that many house or apartments for rent in England with a swimming pool and the benefit of 320 days of sunshine every year! So if you want luxury, sunshine and a laid back style of living maybe you should seriously consider investing in property in Paphos.



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