Rightmove website for cyprus??

Before it's been built or during the initial stages of construction
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fatcodycat
Posts: 3
Joined: 01 Nov 2007 17:14

Rightmove website for cyprus??

Post by fatcodycat » 01 Nov 2007 17:27

Hello all

Both my wife and I are looking into the pros and cons of purchasing a holiday home in Cyprus, and I am sure that this will be the first question of many!

Is there a web-site for Cyprus like the rightmove website or the ononemap website that we have in the UK?

If so then could some one please tell me the web address – as there seems to be loads of holiday homes for sale but I am struggling to find any information about second hand properties, but then again perhaps I am not looking in the right place!



Nigel Howarth
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Post by Nigel Howarth » 01 Nov 2007 18:10

Welcome to the board Steve,

I guess the main advantage of buying a holiday home anywhere is that you can visit it whenever you like, leave your clothes and other belongings in it - saving you the hassle of lugging them around airports. I guess one of the downsides is that you may feel obliged to spend time in it rather than seeing other parts of the world. But it's very much a personal thing.

We've got a holiday home in the UK and it's great to be able to jump on a plane with just my laptop and scoot through customs (my wife however, doesn't yet understand the concept of travelling light). And it's a good long-term investment as well.

If you're buying a holiday home, you may want to rent it out to holiday-makers while you're not using it. You may find that this is a problem in Cyprus. Recently, tourist arrivals have been declining while the number of holiday properties being built has continued to accelerate.

At the moment there are just too many properties chasing too few holiday-makers. If you buy a run-of-the-mill holiday apartment, you'll be very lucky to can rent it out for more than 16 weeks/year. Don't budget on getting more than a 4% gross return on your investment - out of that you'll need to pay local taxes, management and maintenance fees, breakages, repairs, telephone, electricity - and you'll need to furnish and equip it.

There's a good website for rental owners called 'Lay My Hat'. You can find it at http://www.laymyhat.com/

As property developers make more profit out of selling new properties, most of the properties you see being advertised are new. There aren't any websites here like 'rightmove' or 'ononemap' - I guess the market isn't big enough.

But there is a company called buysellcyprus that carries a lot of resale properties. You'll be able to get a pretty good idea of what's available and prices. One thing to bear in mind is that commissions on property sales are quite a bit higher than those in the UK. You'll save yourself quite a bit of money by dealing with the vendor directly.

Probably the best thing to do is to come over and take a look around. When you find an area you like, ask people there what's available and keep an eye out for 'For Sale' signs.

And when you do find something you like, please make sure you take independent legal advice. Under no circumstances should you use a lawyer who's been introduced or recommended to you by the vendor. Let's just say that business practices and business ethics are different to those of the UK.

Regards,


Nigel Howarth
Independent information & advice for Cyprus property buyers
Contact Nigel Howarth
Read the latest Cyprus property news

[email protected]
Posts: 2
Joined: 01 Nov 2007 17:50

Are you kidding?

Post by [email protected] » 01 Nov 2007 18:20

Hi Fatcodycat

Have I mis-read your message? If you are looking to buy in Cyprus, either off-plan or a resale there are hundreds of websites. Try some of these for starters.

http://www.nethunter.com/
http://cyprus.angloinfo.com/forum/forum.asp?FID=27
http://www.cyprusforums.net/viewforum.p ... 7b5e4c1e58

Have a look at these for starters. (You might have to knock off the end bit of the addresses). If you still don't find anything that takes you fancy, let us know and I find you some more website addresses.

By the way, did you know that the agents in Cyprus charge from 5% to 10%. Therefore as Nigel says you'd do well the find your own property.

As for buying new. If you want a brand new detached villa for just £125,000 then you can buy mine.

Regards



fatcodycat
Posts: 3
Joined: 01 Nov 2007 17:14

Re: Are you kidding?

Post by fatcodycat » 01 Nov 2007 22:26

hello

many thanks for your replies, i have a friend at work that has just purchased a apartment via a consultant and he was very happy with it.

I have contacted the same consultant and I being not at all cynical was not that convinced, now before i go any further i am sure that my collegue is very happy with his deal that he got and every thing is and was above board but i still have had my reservations from my brief conversation with the consultant.

To be honest she said that there would be no problem in getting 20 weeks rental per year (i have now read different) and that i will get a better deal if i buy off plan. I am not new to purchasing property ( we have two rental houses in the Uk) and i thought that her "fees" must be paid from somewhere!! after all nothing is free!!, the other thing that she said was that they are selling off plan so fast that they are struggling to keep up with demand!!! and i must get over here quickly as there is going to be a some sort of tax added to all property sales in the new year?

I did feel like i was being buttered up - with every thing being made out rosy!!!.

Both me and my wife will not be pressured into anything and with the help that your two replies have given us i will not be dealing with them again!!!.

we are both very wary people and after all nothing is free in this life!, and interestinley the development that she was praising was by a developer that has "just secured planning permission for a complex in Emrini"

thanks for all your help and advise so far but as i said in my first post i feel this is the first of many questions!!!.



Nigel Howarth
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Post by Nigel Howarth » 01 Nov 2007 23:37

Hi Steve,

One thing you can be sure of, it'll be in the consultant's interest to sell you a property off-plan. Some of them are reported to get as much as 15% of the selling price in commission.

"Selling off-plan so fast that they are struggling to keep up with demand" - according to the latest press report (see my Blog) "property investments from abroad had decreased by 50 per cent and continued to drop". The two just don't add up.

And do you now where Emrini is? I can't find it on the map.

Cheers,


Nigel Howarth
Independent information & advice for Cyprus property buyers
Contact Nigel Howarth
Read the latest Cyprus property news

fatcodycat
Posts: 3
Joined: 01 Nov 2007 17:14

Post by fatcodycat » 02 Nov 2007 00:39

hello

sorry in my hast i have mis-typed the name the correct speling is "Erimi" which from your profile is where you are!!!??

steve

PS i have PM'ed you with the property developers web-site, have youu heard of them?



Nigel Howarth
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Joined: 24 Oct 2007 14:38
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Post by Nigel Howarth » 02 Nov 2007 09:31

Good morning Steve,

Yes, I live in Erimi. It's a residential area rather than a tourist area. There's an Erimi-based developer here who's built 'Erimi Gardens' by the name of John Theodorou - and there's also Kleanthis Savva, a Paphos based developer who just about to start building near a friend of mine.

The link you sent me isn't the developer - they are agents. I've had look at the website, but can't see anything there that mentions Erimi.

Regards,


Nigel Howarth
Independent information & advice for Cyprus property buyers
Contact Nigel Howarth
Read the latest Cyprus property news

pippin
Posts: 8
Joined: 06 Apr 2008 16:02
Location: Paphos
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Re: Are you kidding?

Post by pippin » 12 Apr 2008 18:31

fatcodycat wrote:hello

many thanks for your replies, i have a friend at work that has just purchased a apartment via a consultant and he was very happy with it.

I have contacted the same consultant and I being not at all cynical was not that convinced, now before i go any further i am sure that my collegue is very happy with his deal that he got and every thing is and was above board but i still have had my reservations from my brief conversation with the consultant.

To be honest she said that there would be no problem in getting 20 weeks rental per year (i have now read different) and that i will get a better deal if i buy off plan. I am not new to purchasing property ( we have two rental houses in the Uk) and i thought that her "fees" must be paid from somewhere!! after all nothing is free!!, the other thing that she said was that they are selling off plan so fast that they are struggling to keep up with demand!!! and i must get over here quickly as there is going to be a some sort of tax added to all property sales in the new year?

I did feel like i was being buttered up - with every thing being made out rosy!!!.

Both me and my wife will not be pressured into anything and with the help that your two replies have given us i will not be dealing with them again!!!.

we are both very wary people and after all nothing is free in this life!, and interestinley the development that she was praising was by a developer that has "just secured planning permission for a complex in Emrini"

thanks for all your help and advise so far but as i said in my first post i feel this is the first of many questions!!!.
Hi fatcodycat,
Please do not let anyone try to tell you that you will have no problems with rental. There is a glut of rental properties in Cyprus and if you were thinking along the lines of holiday rental it is more trouble than it is worth. My husband and I have a website, mainly for selling property but we have a few rentals on it as well, only because occasionally we are asked for rentals and our experience is that once you have paid all your cost etc there is very little left for you.
As Nigel says some agents charge sellers as much as 15% commission which is a rip off, however these are mainly the big companies who advertise on the Television in the Uk and baby sit clients for the whole of the time they are out here, using hard sell tactics to try to get a contract signed before people leave the island.
My advice to you is to come over independently and not through an agent so that you are not committed to spending your whole trip over with one agent.
As for resale properties there are plenty of them around especially in the Paphos area
If I can be of any help feel free to contact me.
Best wishes Veronica



frasermeridies
Posts: 2
Joined: 01 Jul 2014 10:06

Re: Rightmove website for cyprus??

Post by frasermeridies » 01 Jul 2014 12:14

Thanks Nigel Howarth for sharing this important information with all.



emgee
Posts: 40
Joined: 12 May 2008 21:32

Re: Rightmove website for cyprus??

Post by emgee » 01 Jul 2014 16:53

Steve

Please take on board what Nigel has written. Personally, I would come out for 2 weeks, stay in a hotel etc, hire a car and drive around looking for "For Sale" boards on gates/walls of property in the area you think that you would like to live in.

I do not have a villa, townhouse, apartment for sale and don't know any agents.

Caveat Emptor

Alan



Pantheman
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Re: Rightmove website for cyprus??

Post by Pantheman » 03 Jul 2014 13:30

If you are looking for a holiday home for yourself that's one thing and there are many websites you could look at on the net. Just type into Google 'Cyprus properties for sale'.

If you are looking to purchase a home to also rent out, you should be aware that under Cypriot law, you do need a CTO Licence to do this. Even though most are rented without, it is still the law.

The rental game is not roses, it has it fair share of problems and many times more trouble than it's worth, but it can still work if you put enough effort into it.

Best if you had some idea as to the area you prefer to be in before you set out as this would also help you to focus more. There are many properties to chose from and at very good prices just ensure that the due diligence is done before signing anything.

Hope that helps.

Pan


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JuliaStein
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Joined: 25 Apr 2016 19:16

Re: Rightmove website for cyprus??

Post by JuliaStein » 27 Apr 2016 13:27

Your topic is in category Buying Off-plan property, does it mean you are going to buy house which is under construction now? There are certain advantages of that kind of property. New technologies, for example. Or you can split your payment. I can share info with you if you want



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