MORE PRECIOUS THAN DIAMONDS
There could not be a better time to purchase land for investment or to build your home in Cyprus.
Buying land means that you obtain a Title Deed immediately and the land is Freehold.
Think about it for a moment…….. In a lifetime how much does one spend on luxury items, entertainment, holidays, tobacco, alcohol and parties? And what do you have to show for it?
For as little €65,000 one can invest in a private plot of land of over 2,500sqm, with all the services available, walking distance from amenities, ready to build your dream home, surrounded by natural beauty, serenity and pure country air… More priceless than a diamond? Like a diamond this land will be yours for generations to come secured by a Title Deed. But unlike a diamond, you can build your home on it, plant your orchard, grow your own vegetables, keep your pets or livestock and entertain your friends and family.
The benefits of buying land do not finish here. When purchasing land to build your home ‘You’ the Land owner are in full control of your project. You save money by avoiding VAT on the land purchase and Transfer Fees on the construction. And do not forget you do not have to wait indefinitely for your Title Deeds as this step has been secured by the land purchase. Once your home is built you simply upgrade the Title Deed to include your home.
On a project of €300,000, where the land will cost €100,000 and the construction €200,000 one would save €15,000 on VAT from the land sale and €16,000 on Transfer Fees by building the house independently.
When looking at the scenario in reverse, buying a development of €300,000 means that you have paid the VAT on the whole project (giving you less property for your money). And when you finally get your Title Deed (at least 3 years) you will have to pay additional Transfer Fees (€20,000) on the contractual price (€300,000) of the development.
As an investment, land in Cyprus has performed above inflation since 2003 at a rate of 14% to 30% PLUS per annum depending on location and size of the investment.
Once a permit as been approved by the town planners the plot becomes more desirable and increases in value. Due to planning Department efficiency in Cyprus, a planning permit will take 3 to 6 months. By careful planning i.e. licenses for borehole, perimeter fence, swimming pool, basement, assisted building or business and so on, one can maximize the value of the project and the value of the land it is sitting on.
Land is priceless and on the small Island of Cyprus where development land is limited where could there be a safer and more privileged place to invest your money?
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