The number one mistake made in Cyprus today is to assume that there is a huge backlog of property waiting to be bought at unbelievable prices due to the long recession, provided the potential buyer decides to act. This is a fatal mistake that is costing most investors and buyers of luxury properties dearly. There is no denying that there are many thousands of unsold properties on the island, however the vast majority of these are cheap apartments and properties. Luxury developments and villas in prime locations across the island are actually incredibly rare. Take Aphrodite Hills Golf Resort for example, many clients tell me, “maybe we’ll wait a while” Wait, what’s the question? The resort is practically full of properties as there is a 10% building density law on all golf courses in Cyprus.

Reality

Of all the custom build and property options in Aphrodite Hills, there are only about 10 great prospects among them that would be suitable for investment or an exceptional bargain purchase. Another stark reality is that luxury property sales here have been slowly picking up in recent months. In a slightly more buoyant market with very limited availability, prices will rise rapidly and seriously, as has been the case particularly in Cyprus over the last ten years. Great prospects for luxury properties in the right places around the island are very rare. What is worth buying or investing in, is at the lowest prices due to the recession in the last 4 years and will provide an extremely savvy bargain purchase or incredible potential investment depending on where you buy this property?

The above scenario is an accurate reflection of all luxury properties in Cyprus. Luxury developments in prime locations in recent years have slowly dried up, however some good prospects have re-emerged in recent months. It is always worth owning a prime location property in almost any destination, as it will always accumulate value. The same can be said for Cyprus, remember that for similar properties Cyprus has the cheapest options anywhere in the Mediterranean and also the prices have been slashed the most within the same area. Take advantage of the great prime location deals Cyprus has to offer, from luxurious beachfront villas to retirement properties and literally save many thousands of euros on your real estate needs.

Other reasons to buy a property in Cyprus,

1. You drive on the left as in the UK.
2. The longest golf summer season in the Mediterranean!
3. Similar property is much cheaper than anywhere else in the Mediterranean!
4. Lowest inheritance taxes anywhere in Europe (simply world class)
5. Golf courses have some of the most magnificent views in the world.
6. Extremely low legal costs of buying and selling property (currently 0.5 -1%)
7. Many UK celebrities and athletes are already taking advantage of being here.
8. Some of the best personal and business tax rates in the world today!
9. Crime is 1/6 lower than any other nation in Europe and the Mediterranean.
10. One of the simplest real estate purchase and sale procedures in the world (less than 2 hours)
11. English is widely spoken and the legal and financial systems are based on English law (except much simpler and faster).

The moral of the story is that as an investor or buyer, waiting will cost you money and, more importantly, due to the general lack of great island properties, the best prospects will be gone. It is possible to list the truly large luxury developments in all of Cyprus today at less than 20, but among these are some of the best deals and investment prospects in all of Europe today.

http://www.1cyprusproperty.com/cyprus_luxury_villas_property_real_estate.html