character For Sale in Cyprus For Under 80,000 Pounds
The Cyprus character expansion has continued its upward surge since the turn of the millennium, but while character investors during this period have been rewarded by soaring sale values, there remains a surprisingly wide range of character for sale in Cyprus for those on a budget.
Studio apartments naturally make up the most prolific bank of similarities obtainable in the 80k Pounds or less price bracket, with the majority of these being featured in the resale market; the east coast in particular offers lower prices than its western coastal counterparts. by Sold on Cyprus, a studio apartment in the heart of the famed party town Agia Napa boasts a veranda, air conditioning and communal pool; constructed in 1998, but nevertheless offering a distinctly modern style, the resale price of 48,849 Pounds makes for a wonderful holiday-home deal. By comparison, a newly finished studio with parking and communal pool that is only five minutes from the beach, a 15-minute excursion from the centre of Larnaca, in remarkable distance of the village amenities of Kiti and three kilometres from a hypothesizedv golf course, provides the ultimate popularity for holiday rental, with a resale tag of 57,516 Pounds, again by Sold on Cyprus.
Heading inland, the capital Nicosia naturally delivers higher character values, though by choosing to buy in the suburbs it’s nevertheless possible to break up a bargain. for example, a modern development completed in May 2006 in Latsia on the capital’s outskirts is ideal for long-lasting living, since shops, edges, schools and the new hospital are all within a five-minute excursion, the motorway is nearby and the university only a ten-minute. Built to the highest European standards, the Latsia development includes a lift, disabled access and allocated parking. Consisting of 15 studios, one-, two-, and three-bedroom apartments on three levels, studios cost a insignificant 54,799 Pounds by Alexanders.
Back to the coast and heading west, Paphos is one of the most thriving settings for British buyers, making the number of similarities for sale at 80k Pounds or less a very pleasant find, especially in the new-build market. Due for completion in April 2009, Orange Tree’s new project Pafos Riviera is conveniently located in the chief investment area of Universal, at the heart of the tourist district. The complicate comprises eight blocks of studios, one- and two-bedroom apartments surrounded by an established green park. Studio apartments are priced at 80k pounds, with attractive rental possible produced by luxurious communal facilities including three kidney-shaped swimming pools with a winding lazy river nestled in the heart of the project, alongside an indoor Jacuzzi and sauna, changing facilities and fully equipped fitness room, a children’s playground, bowling green and club house. Again, drawing in the holiday crowd, Irene Heights in Paphos is in close closeness to shops, bars and restaurants, and is well served by public transport. This development of modern apartments offers the ideal bargain for a pied-à-terre in the sun, with a one-bedroom apartment by Parador similarities setting you back just £72,080, including private parking.
The outskirts of Paphos also offer a range of inexpensive studios, despite the suburbs having attained tremendous popularity in recent years. The staggeringly low buy price of 48,732 pounds will put you in the line for a studio pad in the hillside village of Peyia, a 15-minute excursion from Paphos. obtainable by BuySell Real Estate the character boasts double glazing and provisions for air-conditioning, with all apartments accessed by elevators, sharing a communal pool and car port. As one of the few remaining spots within walking distance from the village centre, the development is perfect for long-lasting living, while unobstructed views of the popular tourist hotspot, Coral Bay – which is just a five-minute excursion away – attract excellent holiday rental. Built in two stages, phase A will comprise five two- and three-bedroom villas, with phase B consisting of 18 studios, one-, two- and three-bedroom apartments.
If a pictureque location ranks high on your agenda, look no further than the north-west tip of the island. This vicinity has long been a favoured holiday haunt, both for Nicosians seeking a country escape and British buyers desiring a taste of old Cyprus. located in a chief location on the south edge of Polis, Evagoras Gardens is a carefully designed, aesthetically pleasing development comprising seven apartment blocks with communal pool and private landscaped gardens. One-, two- and three-bedroom apartments are obtainable by Parador similarities, with prices for a one-bedroom apartment starting at 80,000 pounds.
The sleepy outskirts of Polis are equally alluring for buyers on a budget, with the traditional village of Prodromi being a chief example. The village contains its own collection of shops and restaurants, while Polis and Latchi marina are just a five-minute excursion, as are this pretty area’s blue flag beaches. by Parker Barnes, 79,716 pounds currently buys a one-bedroom townhouse for resale within an established complicate with mature landscaped gardens and communal swimming pool, or £80k will get you a more modern, one-bedroom resale apartment with communal pool.
The wealth of island-wide bargains is testament to the fact that Cyprus remains a great purchasing hotspot for budget character, with particular incentives for UK investors. Martin Pearce, the UK sales director for Aristo Developers states: “With Cyprus joining the euro money zone in January 2008, local interest rates have been reduced from the slightly higher rates before charged on borrowings in Cyprus pounds, and euro interest rates are lower than sterling. Coupled with the loosening of Central Bank lending restrictions, this makes Cyprus a cheaper and easier place to borrow than it was last year.” Chairman of Aristo, Theodoros Aristodemou, says that there are new lending restrictions for buyers, meaning that in order to acquire a loan in Cyprus buyers must make a minimum contribution of 20 per cent for a first character buy (to be used as main residence), and a 30 per cent contribution for all other situations (for non-residents and for investment purposes).
The good news for bargain-hunters doesn’t stop at just studios and one-bedroom similarities; the idyllic prospect of owning a slice of island history is also an affordable prospect. Proving that character-filled similarities needn’t require a hefty renovation project, a fully converted traditional stone-built chapel can be snapped up for £80,000 by Parker Barnes. Occupying a lofty position in the hillside village of Peristerona just ten minutes from Polis, the tardis-like character comprises one bedroom, a lounge, kitchen and bathroom, and comes fully furnished for immediate occupancy. Alternatively, for those willing to put in some hard renovation graft, it’s possible to take possession of a much larger character; for example, BuySell is currently offering a three-bedroom, two-bathroom character built in 1850, located in the village of Lofou, 15 minutes from the island’s second largest city, Limassol. Though the asking price of 95,251 pounds is slightly above the £80k limit, purchasing this character will reap meaningful saving funds further down the line, since the listed building is under a preservation order to be restored, with the government offering a 54,414 pounds grant to pay for the work needed. already more alluring for the future renovation, the character contains a basement with its own access from the road and has the necessary permission to be converted into a habitable space, with existing furniture, including many original pieces, included in the price.
Similarly expansive similarities, both new-build and fully renovated, are far more difficult to source with an £80k budget. Indeed there are many who believe that for optimum investment rewards, buyers should look at a wider range of aspects than the initial purchasing price. Andreas Ioannou, managing director of Alpha Panareti Public Ltd, states: “Our experience shows that cheap similarities are obtainable now, and will be obtainable in the future. But such character is not always the best solution. Buying a character oversea is a serious financial decision and buyers should bear in mind certain meaningful criteria in choosing the most appropriate character. I believe that in Cyprus the inexpensive similarities will become in lesser need as buyers realise the future investment possible of their buy. Clients are now realising that the Cypriot market offers far greater future rewards than the UK, and are consequently not only looking at the buy price, but chief location, quality of construction, architectural excellence, mortgage schemes, resale possible and much more in order to capitalise in the most productive way.”