You May Well Find That Selling The One Bedroom Flat Is Problematic

Category: Finance.

Although the better the area the higher will normally be the price, an extra sacrifice at this initial stage may prove well worthwhile in the future. Accommodation: Avoid purchasing an one bedroom or studio type of accommodation( unless you are in a resort area) since you will have problems on resale.

If you have children, pay particular attention to the proximity of public open spaces, since you will, such as gardens find that children will need some space to play. Prefer to get hired accommodation rather than think that you will sell your one bedroom unit and buy a larger one in the future. Flats most in demand are the three bedroom( around 120- 130 sq. m. ) and two bedroom( 70- 100 sq. m. ) ones. You may well find that selling the one bedroom flat is problematic. This state of affairs is fluid however and changes from time to time and from location to location. Services: Experience has proved that it is difficult for co- owners to agree on the common servicing of the blocks. In resort areas the most marketable accommodation are the compact one and two bedroom flats.

It is therefore advisable, especially if you are buying in a large block, to prefer to buy where the block has the lowest common services bill. Avoid, flats which have, also common hot water facilities. Central heating has proved to be a major problem and the cause of many quarrels amongst co- owners. Cyprus enjoys a remarkably low crime rate 1/ 6 of the European average another reason for its popularity with foreign buyers for whom security has become a key element in the property world. Under the Aliens and Immigration Law, non- Cypriots wishing to take up employment in Cyprus are required to have a work permit. Visitors are invariably surprised and reassured by this relaxed aspect of life on the island, where crime is virtually unheard of and theft not commonplace. As a general rule, electricity can be brought to any place in Cyprus provided one is prepared to pay for it.

This is not true at all and it is best to examine the approximate electricity provision cost with the EAC District Officer. Be careful, with the general, however belief that if there is an electricity line close to the property the cost of providing electricity will not be much. Telephone lines are a problem for out of built- up areas. If one is needed at your" spot" , examine this possibility with the CYTA District Officer.

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