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I've just bought another 2 properties in Cyprus
4wallsandaceiling.com Newsletter
In the immortal words of Max Bygraves…”I want to tell you a story!” (blimey that’s showing my age!)
The regular readers of my blog will know that for the past year I have been harping on about investing in Cyprus (Click here to go to the first Cypriot blog), now is the time to really expand on why and more importantly why you should get involved sharpish… because you still have time.
About 11 months ago we bought a 3 bed penthouse in Pervolia just outside larnaca (Click here to see some pics of the area). The mortgage on it is CYP £90K and now it’s worth, according to the bank of Cyprus, CYP £150K ONLY 11 MONTHS LATER!!
Now what does that mean in real terms?
Because of the tremendous growth we have enjoyed with-in Cyprus we have managed to re-mortgage our penthouse and pull out enough cash to furnish the property PLUS buy ANOTHER flat AND a huge 3 bed villa for ourselves all from starting 11 months ago and with no extra financial input from ourselves!
That means we now own x3 properties worth CYP £500K that are paying for themselves and that cost us very little or in fact nothing given the time period that we have been sitting on them… albeit 11 months… but then we saw the logic 11 months ago, however, that logic is still there and you can still be part of it.
Now based on the fact that we still are going to enjoy high capital growth in this area, how much do you think they are going to be worth in the next few years?
If you are interested in purchasing investment property or your own home in Cyprus, ypu should consider buying this book. It has 31 pages of the most concise information you could ever need when it come to buying property in Cyprus. From the Legal ramifications through to the Banking issues, all of which is complimented by some beautiful photographs of the island.
Available at 4wallsandaceiling.com for only £4.99.
Point of fact… we put our money where our mouths are 11 months ago (back to the first blog again) and we have converted that faith into cash which we are still re-investing back into more property in Larnaca, Cyprus. (Click here to read more info) … why Larnaca? Well let me tell you. Larnaca has the biggest airport in Cyprus and if your property lies with-in a 20 minute radius of an airport you increase your occupancy by 39%... that’s why, amongst a whole host of other reasons.
Can you see where I’m going with this?
What I’m driving at is you still have time to get going yourself. 2008 will bring financial changes to the country for a number of reasons. Firstly they are going into the EU currency, which if you use Dublin as a bench mark, tends to set the precedence of increasing property prices. PLUS there is a 15% tax levy being put onto land transactions, this means that over night developers will be passing that cost onto the end buyer this, in turn, will mean that the local existing market will go up in price by default.
Can you see why I’m buying more?
Click here for different types of property.
Also if you take into consideration the low intro costs coupled with Swiss franc mortgage rates, this altogether makes a very attractive investment package.
I know that investing in the UK is tricky, but not impossible, and that investing abroad can be daunting. However, it’s my opinion that as long as you use science and mathematics to guide you then logic prevails. GET GOING BEFORE YOU KICK YOURSELF.
If you need any advice and/or guidance with your strategy then lat me know, email me at nick.tadd@4wallsandaceiling.com you should be able to get the measure of me now.
Remember there is a time scale to this and you need to be re-active.
And one more thing be very careful when investing in North Cyprus, in my opinion, it’s not their land they are selling…. Think about it.
If there is anything else you would like to know about investing safely in the UK please drop us a line mailto:enquiries@4wallsandaceiling.com
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