Real Estate admin  

Tips before entering the Cyprus real estate market

Buying a second home is what most people do these days. If you are buying land or buying property in Cyprus, you will find that it is the best investment you have ever made or maybe the second.

But how do you pay the mortgage on that second home?

Well, nowadays renting has never been easier, and even if you don’t live in Cyprus, you will find that you will have no problem renting out your holiday home.

In fact, at rush hour, you’ll earn a lot more than you may think, but the winter months can be a bit slow, but in most cases you should still break even for winter.

People must think that buying a second home is out of reach, but they really don’t know how easy it is to find the money for it.

It’s very simple, all you have to do is the math. If your mortgage in Cyprus is €1000 a month, which works out to around £750 a month and you can rent your property in Cyprus for €1000 a week, well guess what your mortgage is covered, plus you have three additional weeks rent.

Now you have to understand that in the winter you may only be renting for a month or two, and the rent is much lower, in fact the rent can be cut in half, so if a Cyprus winter works it out (which is like a British summer) last around 4 months a year, you would need to rent your property in Cyprus two weeks a month for four months.

But don’t forget that you will earn three times as much in the summer months. So if you worked it out over a 12 month period you would have around 6000 – 7000 euros in your pocket, plus the price of your property in Cyprus is going up.

So ask yourself a few questions here; Can I recover this profit in my ISA or my pension per year, in addition to a vacation home for your family? I do not think.

Instead of working harder, why not start working smarter and let your money do the hard work for you?

If you want more information on how to invest in property in Cyprus try http://www.cyprusinformar.com, they will direct you and give you all the advice you need to buy your property in Cyprus and show how to rent it in the easiest way .

Leave A Comment