Buying property in Cyprus by installments is not only profitable, but also very convenient. Thanks to the possibility of installments or loans, you can become the owner of your dreams without large financial costs and restrictions.
There are certain rules to buy property in Cyprus in installments
An installment plan for real estate up to 5 years allows you to make an initial payment of 35% for an object under construction or 50% of the cost for a finished object, and pay the rest of the amount in equal installments within 4-5 years. This option of acquiring real estate is not only cost-effective, but also provides financial flexibility. In addition, the price of real estate will increase by 30-50% by the time of full payment.
If you do not want to wait 4-5 years, there is an opportunity to use credit. Some developers in Northern Cyprus provide interest-free installments only for the period of construction of the facility, after which you can take out a loan for a longer period. Loan rates vary in different companies from 5 to 10%, but you should not agree to a higher rate, as this may reduce the investment attractiveness of the object. Loan maturities are typically up to 20 years, but many buyers prefer to repay the loan over 10 years.
It should be noted that the competition in the real estate market in Northern Cyprus is very high, and developers offer their clients more favorable conditions for purchasing real estate. However, in order to avoid possible risks, it is recommended to contact qualified lawyers and always carefully study the contracts so that the purchase of property in Cyprus is compatible with your wishes.
Buying propertyin Cyprus in installments is a great opportunity for investment and for creating comfortable housing for every taste. Thanks to installments and loans, you can do this without high financial costs and stress.
