Are you on the hunt for a new home? With CENTURY 21 your search stops at resale properties in Cyprus!
These property gems are gaining popularity for their unbeatable combination of affordability, convenience, and overall value.
Whether you’re a first-time homebuyer or you’re looking to invest in the resale real estate market, resale property in Cyprus is the smart choice.
In this blog, we’ll dive into what exactly resale properties are and highlight all the amazing benefits a resale property can give you.
What are Resale Properties?
Resale properties are homes or apartments that have previously been owned and are now being put back on the market for sale.
The term “resale property” in Cyprus, describes properties that have been sold at least once before. These properties can be sold by the current owner or through a Real Estate Agency in Cyprus.
Buying a resale property in Cyprus can be a great investment opportunity for potential buyers.
Why? Because these properties often come with incentives such as fully fitted kitchens and air conditioning. This can help you save on the cost of these extras.
If you are looking for properties for sale in Cyprus, considering a resale property can result in a smart move.
Benefits of Buying Resale Properties in Cyprus
One of the main advantages of purchasing resale properties in Cyprus is their affordability. These properties are often priced lower than new construction homes.
Resale properties in Cyprus can offer great value for money. Usually, when buying a resale property, they tend to come with existing appliances, fixtures, and fittings, saving you money and time on purchasing new items.
Additionally, you can avoid the additional costs associated with new construction homes, such as landscaping and finishing touches.
When it comes to VAT, let’s start with the widely known facts.
The standard VAT rate in Cyprus is 19%. The amount represented is required to be paid when you buy a new property if it’s for investment and 5% if it’s for your main place of residence.
Then, there are the resale properties in Cyprus where you don’t need to pay VAT.
In general, the resale of immovable property where the property has already been bought for the first time is no longer subject to VAT.
Resale properties are often located in thriving neighborhoods with well-established cultural and social ecosystems, and mature public amenities such as schools and grocery stores.
Consequently, you can immediately benefit from the energy the community provides without waiting for new developments, road construction or electricity network access to be completed.
One of the biggest benefits of buying a resale property in Cyprus is the convenience of a quick move-in.
In contrast to newly constructed houses that can take a notable amount of time to finish building, resale properties are available to you for immediate occupancy once the purchase procedure is completed.
By purchasing a property that belongs in the resale category of the Cyprus Real Estate market, you can avoid the expense of renting a temporary home while waiting for new construction to be completed.
Cyprus Property Prices: A Look at the Market
It is no secret that construction costs in Cyprus have drastically increased in the past few years due to several socio-economic factors.
Yet, while this may make things a bit more complicated, it also makes resale properties an even more attractive option for you.
Resale properties in Cyprus offer several advantages to potential buyers, including affordability, established neighborhoods, good value for money, and a quick move-in process.
Resale properties provide a sense of assurance, have stood the test of time and at the same time, you know exactly what you buy.
With CENTURY 21 Cyprus, your search for a new home comes to an end. Our extensive range of resale properties in Cyprus offers a wide collection of options and possibilities.
Take advantage of the knowledge and understanding our experienced CENTURY 21 Property Consultants can offer you and make the best possible choice for your future.
Contact us and let’s start the journey toward your new home, TODAY!