Cheap Cyprus Mortgages, On BTL and BMV Property, Deals on Investment and Golf Properties!

Sept. 8, 2010 - PRLog -- After personally contacting, most of the banks in Cyprus and speaking to a plethora of Cyprus and international mortgage experts the general consensus appears to be that for at least the next five years this will not change! The main reason being that Banks worldwide are tightening their belts is the worldwide economy and when banks do this they are quite self centered and the process is due to last a while. The only possible offset to this particular problem, which is now affecting property buyers and investors worldwide is that some Chinese or other banks may see a gap in the market and come up with a more practical solution.

Should a bank offer the golden 10% deposit option is it really practical when buying investment or even your own property? Lets take Cyprus for example, for once I actually agree with the banks and even though pretty much every business orientated person in the world despises the banking world.  Added to the fact that many of these international banks have had a major and negative impact (particularly the poor) worldwide in the last hundred years is beyond doubt. But when it comes to finances they are the experts. Below are some reasons why there is upheaval in the Cypriot banking system, as there were absolutely no financial reasons to change the mortgages and terms so quickly, particularly, when the property sales were gradually recovering and the economy was stable.

One of the legitimate reasons why Cyprus banks are getting choosy is that there are a million rental properties available and these in turn are saturating the market. Even though Cyprus is producing some of the finest rental yields in the world at present the market on cheaper properties especially  is in danger of collapsing. Secondly although many Cypriots are very nice gentle people there, have been many examples of recent years as to the nepotism involved within the financial system and sometimes even in connection with developers as well and there are a lot of issues still to explode in the future this could have more to do with the recent u turn by the banks in Cyprus then most people realise. ( No names mentioned ) quote on quote! Some individuals may even end up with their bottoms spanked!

Regardless, what should and could be the best investment market in the world at present on non commercial property is being put in severe danger. (A) by some of the developers themselves! (B) the goverment in Cyprus has single handedly failed to grasp this issue over the last three years even though it is costing them hundreds of millions in what was the most bouyant domestic property market in the world less than four years ago! This is directly related to the title deeds scenario and nepotism again. (C) One of the biggest silent dangers not many people are aware of to Cyprus and its future financial performance is the traditonal help your family out. One would say that if you run a business give the best able person the job, not your niece, uncle, cousin or grandmother. For the last ten years this has not been a problem as Cypriot developers could not keep up with the demand for properties!!! But Now this issue is going to bite deeply. D) Lastly the good old fashioned virtue of greed by certain individuals has had a massive impact on the reputation of the property market in Cyprus today.

Again with many of the reasons above being quite negative there are still many highly reputable and transparent developers in Cyprus and of course there are still some of the finest investment properties available in the world today, without a doubt. Should you be looking to invest and get some tasty rental yields and high appreciation value increases on property here then choose very wisely. The golden rule of thumb is to only choose property in very certain locations, like prime beach front property in highly sought after locations. Property in or very close to some of the exceptional golfing developments in Cyprus like the new Gary Player/Jack Nicklaus PGA courses being developed and the secret valley with its seven magnificent courses. Lastly property in pristine and protected locations like near Polis in The Akama national park where development is highly controlled and beautiful Cyprus has and will be preserved in a five star area! These are the areas that most investment experts totally agree will hold on to their rental value and increase highly in pruchase value over the next ten years.

Since day one we have given the same advice to any potential buyers and investors alike and feature all of the properties in the above mentioned areas and this is one of the biggest reasons why we can be regarded as the definitive investment and golf property experts in Cyprus today! Many people taking the cheap deposit option have lost out for two reasons firstly you are not going to get a 10% deposit option when buying in highly sought after areas and many investors have been palmed off with cheap properties that are failing to live up to their investment promises let alone achieving decent rental yields. Secondly there were some Swiss mortgages at below 10% deposit available and with a lot of takers there are many investors and buyers asking why they cannot afford to pay their swiss mortgage in Cyprus because of currency fluctuations!

One may still say that a 30% deposit is a bit hefty, but is it any use paying a 10% deposit with a high interest rate over twenty years when you can just pay the 25 - 30% pay off your property in less than ten years and have a huge wad of excess cash generated by excess rental yield and watch your properties value increase heavily because it is in the right location. In short the words of all the financial experts and mortgage advisors both within the Uk and worldwide are ringing in my ears " financial institutions are digging their heels in and tradtional property investment is gone for good! Investors must now think again!"

Another good question is why invest in the Uk when in Cyprus and a select few other destinations your rental yields can be a much as five times that of the Uk.

Bang has gone the investment property bubble, however this is not the end for property investors and speculators. Of course property portfolios will inevetably be smaller but with the right advice those smaller property portfolios can still be as lucrative with the right advice.

To obtain a property in Cyprus now you will pay an initial small deposit for a couple of thousand Euros, which then makes the property purchase legally binding then you will be asked for the remainder of the 25 - 30% deposit to include initial deposit then you will pay to have the sale ratified 0.5 to a 1% payment of the total cost of the property to Bona fide genuinely impartial Cyprus bar registered lawyers ( do not use any recommended by the developer ) this is to avoid potential conflict of interest problems... This does not happen very often, but be sure it does and can happen!! then the average mortgage will vary between 3.99 and 6% maximum providing you have chosen a good property you can achieve anywher between 8% and in some cases up to 15% rental yields of the property value per annum! We have a few such 15 % rental yield properties on our books but they dissapear fast. this super rental yield is available on properties of less than 2 and  300 - 000 Euros as well as many of the more expensive villas.

Be absolutely sure that if you want the best investment and golf property in Cyprus do not waste your time and contact us first! As these totally genuine  15% per annum rental yield properties are going fast and there is not an endless supply niether

For any queries related to Cyprus investment or golf property contact David at

http://www.1cyprusproperty.com/
http://www.1cyprusproperty.com/gary_player_jack_nicklaus_...

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We are dedicated to finding the best purchase opportunities and Property investment portfolios in Cyprus, Our specialist areas are prime location property in Cyprus, Luxury beachfront or seaside property, exclusive luxury and bargain golf villas.