Tips For Before You Enter The Cyprus Property Market
March 13, 2008
It seems to be quite a common thing to buy a second property nowadays. But if you are considering buying a plot of land or property in Cyprus, it will more than likely be the best investment you will have ever made, but what’s the best way about going about a mortgage on a second home.
Well nowadays renting has never been easier, and even if your not living in Cyprus you’ll find you won’t have any problems renting you holiday home out. In fact in the peak time, you’ll make far more then you can think of, but the winter months can be a bit slow, but in most cases you should still break even for winter.
Most people think buying a second house is far out of there reach, but they don’t really know how easy it is to find the money for it. It’s very simple real all you have to is the maths. If you Cyprus mortgage is 1000 Euro a month, which works out to be around 750 pounds a month and you can rent you Cyprus property out for 1000 Euro a week, well guess what your mortgage is covered, plus you have three extra weeks rent coming in.
As I have just mentioned the winter is not such a good deal as the summer for rental income due to less bookings and lower rental charges, but fortunately the winter only lasts for 4 months in Cyprus so the longer warmer months more than make up for it.
But don’t forget you’re going to make three times as much in the summer months. So if you worked it out over 12 month period you’d be around 6000 - 7000 euros in pocket, plus the price of your Cyprus property is going up. So ask yourself a few questions here; Can I get this profit back in my ISA’s or my pension per year, plus a holiday home for your family? I don’t think so.
Instead of working harder, why don’t you start to work smarter and let your money do the hard work for you. If you would like to know more on how to invest in Cyprus properties then take a look at cyprusinformer.com and they’ll point you in the right direction and give you all the advice you need to purchase your Cyprus property and show you how to rent it out the easy way.
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