Quote:
Originally Posted by grumpy001
Yes, unfortunately the word Investment is often slipped in and used to infer a capital gain or advantage.
It is possible to invest in your lifestyle, invest in your future, invest for growth of property values and invest for income. However, the expressions used by many sellers and advisors is often too loose and infers that if you buy a wheelie bin then it will become a palace overnight or be capable of renting to 50 immigrants for income. I think when we use the word, we should also be responsible to express and expand to say exactly what it means and in which context.
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by investment i mean a property purchased at reasonable price not some of the ridiculous prices some of the developers are asking.
my definition is
1 Property purchased off plan at least 20% below market value will offer a realistic chance of resale before completetion and a profit this can be done i have done my self twice this year
2 A property that can bring in more rental income than mortgage payments
out
3 a property in a location that would attract both holiday and residential markets
4 a property with g/teed rental income
5 a property on say a unique complex that would attract people of high wealth to either rent or purchase from you.
the word investment is punted around by everyone who is selling property in Cyprus
In theory all property is an investment if you rely on capital growth which has been very good in cyprus over the last 10 years.
personally im more interested in what the property can earn me without relying on the capital growth.
finally your investment is as good as the person who advises you unfortunately there all lots of people who do not give good advice avoid these or your investment will become a nightmare.
however there are some very good advisors out there