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Buying property is always a responsible decision, that requires full comprehension of the law and regulations of the country you want to buy a housing in. This also applies to one of the most desirable places for investment – Cyprus.
The island is famous for its clean remarkable sea and hot sunny days almost all year. You will be able to find the perfect place for housing: stunning Limassol, archeological Paphos, historic Larnaca, etc.
This article will help you to comprehend all the nuances of buying property in Cyprus if you are curious about it.
Housing prices in the south and north vary markedly. In the southern part the price is approximately €3000, while in the northern part it is €1500.
Southern Cyprus is still recovering from the economic crisis of 2013 (house prices fell by almost half). However, real estate here is still more costly than in the northern part.
It is also important to take into account the rate of house price growth in 2022:
We can conclude that the investment potential of Northern Cyprus is higher than that of Southern one, but it is important to take into account the risks and features of the northern part.
Some matters you ought to bear in mind:
Full comprehension of these matters will help you to keep away from the risks related to acquiring housing.
Here’s the instruction you have to bear in mind:
If you eager to acquire housing in Cyprus, the taxes are another nuance you must bear in mind:
The tax implications should always be analyzed: hiring a local tax specialist is mandatory for a smooth process.
The full comprehension of the nuances when acquiring a housing is vital. Remember about all risks, rules, cultural features, and taxes.
By following all the local laws and rules, you will be able to finish the process without difficulties.
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