On the Crossing of Continents

Cyprus is situated in the north-east Mediterranean on the crossing of three continents - Europe, Asia and Africa. This strategic location ensured development of the island as an international business center with high-quality service, vast infrastructures and great deal of entertainment facilities. Living and business conditions there are more than comfortable. Cyprus differs from most developed countries by its minimal crime rate, high living standards and relatively low prices. That's why many tempted foreigners are buying real estate there.

For many years this island has been a second home for many people coming from all over the world. Those who've never been to Cyprus should really go and see what it's like. During 320 days in a year the island is cherished by caressing sun. Cyprus is washed by waves of Mediterranean Sea that gave life to gorgeous Aphrodite, according to ancient Greek myths.

Foreigners can by properties or land lots for construction activities on the invariable property right basis. Long-term rent is hardly ever practiced in Cyprus. After setting the sale agreement the buyer will face a simple formal procedure with the lawyer. All that is necessary is to hand in an application to the Council of Ministers that will approve the purchase.

Since the buyer pays the full price for the property he receives the paper on the transfer of ownership. What are the expenditures that a real estate buyer will face when purchasing a property in Cyprus?

Firstly, the transfer of ownership fee? It's a lump-sum paid to the Department for Estate Registration. It constitutes around 3.9 percent of the property price.

Secondly, the annual property tax? It's necessary to admit that real estate priced lower that 100,000 Cyprus Pounds (around $210,000) that belongs to a private person requires no annual property tax payments.

Stamp duty on sale agreement is estimated at 2.5 Cyprus Pounds per one thousand of value, while if the property costs more than 100,000 the buyer will pay 2 Cyprus Pounds per thousand.

The county tax ranges from 30 to 100 Cyprus Pounds depending on the property size. The tax covers expenses on garbage cleaning and street lighting.

The judicial system in Cyprus inherited the British one guaranteeing secure buyer's rights on different levels. Thus, the sale agreement cannot be breached by anyone except for the buyer himself. The seller is not allowed to sell, rent out or pawn the property since then.

Learn more about real estate in Cyprus by reading the articles below

Beware! Illegal real estate in Cyprus ( http://www.realestategates.com/Articles/20092004/Illegal_RealEstate_Cyprus0001.html ) Illicit regime implemented on the occupied territories allows and promotes illegitimate buying and selling

Beating carpets and hanging linens outdoors can now cost you about $100 in Cyprus ( http://www.realestategates.com/Articles/31082004/article98763.html ) New system of penalties will make Nicosia a beautiful European city.

Author: Cameron Lindblom, Real Estate Gates ( http://www.realestategates.com )

---

What We Do To Sell Your Property!

Once you have contracted us to sell your property we... Read More

Real Estate Investing - Basis Explained

Our complex IRS code requires that your, as a real... Read More

Where is Florida Investment Property

Florida Investment Property ? Why Investing is a Wise Decision... Read More

Investing in Real Estate & REITs

Real estate investing runs the gamut in terms of risk... Read More

Apres-Ski

European tax haven Andorra enjoys the same fiscal benefits as... Read More

Top Tips for Buying and Selling a Home

BuyersLooking for a home-Use Internet for overview of properties, communities,... Read More

Mancos Real Estate

Real estate: availability and costIn 2000, the median home value... Read More

Virtual Agent? Online Real Estate

When preparing to sell a house, you should always consider... Read More

You Have 15 Seconds to Sell Your Home! 11 Steps You Can Take to Sell Your Home for Top Dollar

Selling your home? Here are some suggestions to help you... Read More

Vegas: The New Frontier

Unless you have been living in Siberia, you know that... Read More

The 5 Biggest Mistakes Made When Getting A Business Appraised

Most business owners will, at some point, want or need... Read More

Selling Houses: Design Psychology Works!

I've taught the concepts of Design Psychology for many years,... Read More

Sell Your Income Property For More

Selling income property isn't like selling a house. You can... Read More

What Should You Do If Your Home Isn?t Selling?

It can be very frustrating to put your home on... Read More

What You Can Do To Sell Your Home Fast

Yes, you want to sell your home and you want... Read More

Buying New Construction...How Do I Begin?

The prospect of shopping for a new construction residence can... Read More

Feel At Home Faster After You Move

Moving to a new community can be a great adventure,... Read More

What Makes Fractional Shares Different from Owning Other Kinds of Vacation Properties?

Fractional shares ("fractionals") are sometimes confused with other vacation property... Read More

Maltas Market Battle

With new destinations such as Bulgaria, Slovenia and Croatia offering... Read More

Atlanta Georgia Real Estate - Marietta - East Cobb, Roswell, and Alpharetta

Whether you're a "move up" home buyer, downsizing, or relocating... Read More

Houses For Sale By Owner - Negotiating Tips

Houses for sale by owner, also known as "FSBOs," are... Read More

Make Money With Room Rentals

I don't know why I didn't do it sooner, but... Read More

Creative Real Estate Investing

With a job that paid $3.40 an hour, I saved... Read More

Property Investing Secrets 8

Property Investing: A Buyer's Secret Weapon When Purchasing Real EstateMy... Read More

How to Get Started in the Real Estate Game Fixing and Flipping Houses

If you're looking to get started investing in real estate... Read More

The Art & Science of Property Valuation -- Automated Valuation Models

It is no secret that sellers want to sell high... Read More

Property Investment - What Future For the Biggest Bubble of All Time?

The Economist magazine published a special report in this months... Read More

How To Get More Money For Your House

If you are thinking about selling your house, you should... Read More

Location, Location, Location

Location, location, location - known as the 3 most important... Read More

How to Afford Your Dream Home

Is it your dream to one day own a holiday... Read More

Why Use a Property Manager?

Most experienced property investors use property managers. Why? Because they... Read More

Real Estate: Financial Considerations $$$

Raw land as opposed to improved property is much more... Read More

Rehab Foreclosed Houses the Right Way and Keep All the Profits!

I've been teaching people how to buy foreclosure properties for... Read More