Thread: Cyprus Property
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  #16  
Old 08-06-2008, 07:05 AM
katharinestavrinou katharinestavrinou is offline
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I think it's much better to do your own research and buy your own resale, then rent it through a rental company. I bought my flat as a resale with free and clear title deeds in a building being upgraded and redecorated. Because it is in an older, established area of Agia Napa, it has mature landscaping and is close in to the center.
I pay a mortgage of just 150 cyprus pounds per month on my one bedroom, and could rent it for up to 200 or 250 per week, but am renting it for just 100 per week this summer because the pool is out of commission being re-tiled. I paid just over 100 pounds to a rental company online, and have now rented it through the end of September, fully paying off the mortgage for the year and the rental fee. This is of course not guaranteed rental- nothing is-but if you keep the mortgage payments down and buy the right place in the right location, you will be in a good position.
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