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Cyprus Property Blog by Cleo

Buying Property in Cyprus is a great investment choice and we discuss various aspects.

Three Key Factors Why Your Property Sells or Not in Cyprus

Price, location and condition are three key factors that greatly affect how desirable your property is to potential buyers. When you are considering to sell property in Cyprus these are things that can make the process much simpler. If you are buying, it is also good to look ahead and consider all three before settling on a property. 

Price is very important when buying or selling as what you pay when you buy will influence how much you can sell for. The longer you own a home the less you are effected by the original price however, if you overpay for a property and attempt to sell within a couple of years you are likely to take a loss. Unless it's a booming market like the one we experienced in the recent past which was not the norm.

Locations are vital to the desirability of a property. A great view is very difficult to price and a view that has potential of being obstructed, despite how beautiful it is will not have the same value. Good location also may be different to different people, one buyer might prefer a quite country setting while another closer to a city. In general the closer you are to where all the action and ameneties, the more value the property will maintain. Location is also perception and what the reputation of the area is. If the property is located in an area full of million euro homes that will bring the price and desirability up if yours is less. If you have a million euro home and it is surrounded by apartments, next to a cemetary, close to noisy traffic or an industrial area, these can all have a negative effect on your propertys resale value. It is wise to look more into the future and understand what is around you and what the potential is for future development is before making the final decission.

Condition of the property can also effect the sale. Even when buying a new home there can be things built in or not that can also have a negative impact when you have to sell. The obvious conditions are the actual quality of the construction and how it holds up with time. The ease of upkeep and maintenance during the life of the property especially impact the ability to sell. There are certain things that can be avoided in the begining that will likely influence the resale value later on. The size of the plot or the size of the home, a very small home may take many buyers out of the picture and too big a home may also have the same result.

Whether you are buying or selling, price, location and condition of the property are key factors to research and pay close attention to so that you remain happy in your new home and have an easier selling process when the time comes.  

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Cyprus Property is Hot! Now more than ever. There are over 20 million northern Europeans (European baby boomers) that have retired in the last few years which is a great number and many will be British. Many have been waiting for the financial crisis to past before they make the move to Cyprus. With warm weather, low crime rate, low cost of living in Cyprus and English speaking population, do you think Cyprus will have enough properties for every one?

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