Selling Your Cyprus Home While the Price is Right
Whatever your reason for wanting to sell your home in Cyprus, from relocating right through to purchasing a bigger property, there’s no better time to do so than right now. According to a recent survey, home prices have gone up by roughly 2%, while the demand for new properties has seen a substantial increase.
This increase is down to many reasons, but one of the most popular is because of Brexit.
With the event just around the corner and the United Kingdom and its residents looking forward to a comfortable relationship with Cyprus once outside of EU governance – more and more British expats are looking for ways to secure their future on the island of Aphrodite. One of the quickest and most convenient ways to obtain permanent residence, outside of having lived here for at least 5 years, is by purchasing a property for over €300,000.
What Does This Mean For You?
With property prices on the rise and many buyers keen to purchase their right to live in the country – there’s never been a better time than right now to put your property on the market. Many are being sold at a higher price than their initial valuation; and if yours has been placed on (or near) the €300,000 mark, you could be in for a quick sale with minimal fuss.
Is Now Really the Right Time to Sell?
Experts have predicted that over the course of the next couple of years, namely whilst Brexit is finalised and the agreement (or lack thereof) goes through – the property market in Cyprus can expect to see an increase in demand.
Could You Sell Now For More?
This will depend on the condition of your property and other key factors, but generally speaking we have noticed that a lot of buyers are a little more willing to pay extra, simply to take on a new home and secure their permission to live in Cyprus. What this means for sellers is that although potentially a little unorthodox, there really is no harm in listing a property for a slightly higher value and seeing how negotiations work out.
If you’re in luck and you find a buyer that wants to hasten the transaction – they may be willing to cover the extra cost and offer a more substantial return on investment as far as your home is concerned.