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We’ve done all the hard work for you
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For the past 12 months, we've been
investigating the Cyprus property market. I found
that there are three distinct markets. Retirement
properties, holiday homes, and investment
properties. This includes buy-to-let property (which
could also be used as a holiday home) and buying
off-plan.
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Buying ‘off-plan’ simply means you pay for the
right to buy a property that hasn’t yet been built.
You will normally only have details of the
specifications, an artist’s impression of how it
will look when it is finished, and a plan or plans
showing the location.
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I went to many property and investor
exhibitions, but I always came away more confused
than ever. It’s all very well looking at glossy
brochures, maps, plans, photographs, and artists’
impressions, but I wasn’t going to invest my
hard-earned after-tax money after just looking at
some maps and pretty pictures and listening to a
salesperson’s patter. And I didn’t want to go on an
inspection visit just to be shepherded around the
developments that paid the selling agents the
highest commission.
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I realised that my first priority was to
personally find out exactly what was happening out
there, and to build a team of people I could trust.
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After many visits to Cyprus by myself and other
directors, and sending our Chartered Surveyor there
four times (one visit lasting 9 days) and countless
meetings, e-mails and telephone calls, I put
everything in place for me to make my own
investments.
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And, if you want to join me, you’ll also
profit from all the research and groundwork that
we’ve done, and the contacts we’ve made.
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All our research, help, and advice, is free of
charge
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We’ve formed a professional association with
one of the fastest growing overseas estate agents,
Cyprus4Properties. I found them to be professional,
efficient and competent. They are one of the largest
estate agencies and have over 50 staff based in
offices in Cyprus and Romania. They are also
considering opening more in Eastern Europe, Greece
and Middle East.
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As 65% of their overseas property buyers are
British, and as we increase our U.K. marketing, they
save money and resources and have agreed to share
their commission with us. This means we can give
you all the help, advice, and information you need,
completely free of charge. It also means
that you’ll have a U.K. based office to deal with
and two ‘layers’ of due diligence to protect your
interests.
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Cyprus4Properties continually investigate new
developments, but they only contract to sell the
ones they’re satisfied are from reliable developers
and are good value. They make sure that building
licenses have been granted and bank guarantees are
in place. They also have exclusive deals with many
developers - so you'll have the inside edge on these
as well.
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After looking at various countries and areas, I
decided to personally invest in Limassol, Cyprus.
This area is booming. It has some of the finest
golf courses in Europe. New hotels, marinas, golf
courses and roads are being built at a furious pace.
Originally the area catered mainly for tourists. But
because so many people now want to live and work in
this area, many larger developments are taking
place.
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Cyprus4Properties have teams of specialist
investment advisors. They can recommend property
developments in the correct locations, the right
types of property and the right price to pay. To
make sure that clients receive the best possible
advice, all their investment advisors must know
their area well and must have lived there for a
minimum of 3 years. This experience enables them to
advise purchasers not only on property, but also on
mortgages, property insurance, furniture and
lettings. This applies to all the areas where they
have offices.
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You’ll be one of the first to know about any
‘plum’ deals
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I’ve arranged that Cyprus4Properties will let
us know as soon as any special property
opportunities become available. As soon as we hear
about a new development, or a new phase in an
existing development being released, we’ll
investigate it. If we and our partners in Cyprus are
satisfied that it all ‘stacks up’ and has excellent
profit potential, we’ll contact you immediately.
Usually they’ll be apartments or terraced houses
built around swimming pools, and near to one or more
golf courses. If you're interested, we'll
immediately give you more information by e-mail,
post or telephone - whichever you prefer.
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You'll see the plans, read the specifications,
and find out about the location and facilities.
We’ll help you select from the best ones available.
You may prefer one with a view of the gardens and
the swimming pool, or of the mountains, a golf
course, or the sea. Then, if you're still
interested, you can either wait until you make an
inspection trip, or pay a small deposit (around
£2,000) to reserve a selected property.
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It will then be taken off the market (for a
limited time) until you’ve seen it, or until you
decide whether or not you want to buy it.
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There’s a constant demand for the best
properties. We’ll tell you when new developments or
new phases become available and which properties
have the most potential for the highest
appreciation.
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Our success depends entirely on yours.
We want to do all we can to make sure you only
invest in trouble-free profitable investments. We
have more than 1,000 investors on our database and a
reputation which we value very highly. Many new
investors come to us from recommendations. Many of
our existing investors buy from us on a regular
basis. Some buy 1 or 2 properties every month!
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We recommend you spend a few days in Cyprus
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If you’re interested in taking things further,
we’ll be very pleased to arrange an inspection visit
for you. I must stress that, although the cost of a
visit is very low as it’s subsidised, there are
no high-pressure sales tactics.
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If you’re serious about investing in Cyprus, we
strongly recommend you first go on an inspection
visit. We’ll arrange all the details for you. Your
flights, transfers and hotel will be subsidised so
it will cost you very little (or nothing if you buy
from us). You’ll be met at the airport in a luxury
air-conditioned car and taken back there when your
visit is finished. You’ll be booked into a
conveniently located and very comfortable hotel.
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As well as investments, you may be looking for
a holiday home. Once we know exactly what you’re
looking for, an itinerary will be prepared for you.
You’ll only be shown properties that meet your
specifications. Buying any investment, or a holiday
home, is an important decision. So we want you to be
absolutely sure before you make a decision. In fact,
because properties are selling like the proverbial
‘hot cakes’, you’ll find Cyprus4Properties agents
would rather you first think carefully about buying
anything instead of rushing in and then changing
your mind.
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Please bear in mind that you won’t be going on
a holiday break. You’ll spend most of each day
looking at building sites, and properties, so these
visits are only for serious buyers. In the evenings
though, your time is your own so you can look around
the shops (they’re open very late in Cyprus) enjoy
some drinks, and then go out for a delicious meal.
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How you could more than double your money in
a year!
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I found that the most profitable way to invest
is to buy an off-plan property. And it’s best
to buy at the first stages of construction. This is
when the largest discounts are offered. Off-plan
property prices normally increase steadily at
significant construction stages. For example, when
the foundations are laid, when the brickwork begins,
and so on.
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As your property nears completion, you can
decide if you want to change your exit strategy. For
example, you may decide to hold it and keep it as a
buy-to-let property, or as a holiday home, or both!
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If you decide to do this, we’ll arrange
introductions to reliable companies who will
completely furnish it for you for a very reasonable
cost. Cyprus4Properties have their own letting
department and will find tenants for you and manage
your property. You’ll find there’s a strong demand
from holidaymakers in the summer months and from
golfers during the rest of the year.
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Here’s an example how off-plan investing works and
the profits you could make…
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Let’s say that you’ve found a property and the
price is £100,000. You would need to put down
a holding deposit of £2,000 and then 30 days
later, the balance of 30%, £28,000.
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Developers almost always give a substantial
discount to off-plan buyers
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They know it’s more difficult to sell a
property that hasn’t yet been built. There’s no show
flat. No swimming pools. No landscaped gardens. And
the developer needs to be able to prove to his bank
that properties are being reserved.
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Providing the developer has arranged a banker’s
guarantee (and we only deal with ones who have),
your reservation deposit will be kept in a client’s
account. However, the bank will advance money to the
developer against these reservations so he can
finance the building costs and buy land for future
development.
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To encourage off-plan purchases, developers
normally give a 15% discount, so a year later, the
property you contracted to buy for £100,000
could be selling for £115,000 - plus
any inflation. If property prices inflated
by say 15% during the year, it would be selling for
£130,000.
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You could then sell on your interest in the
property to another investor or the end user. We
will arrange this for you together with
Cyprus4Properties. You receive back £30,000
profit, plus the original £30,000 deposit.
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Fancy an 80% mortgage in no time!
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If you decide not to sell on your property
while it’s being built, you may need to arrange a
mortgage to complete your purchase. This will
normally be 18 months to 2 years later. At the
moment, you can obtain 70-80% mortgages from the
developer's bank in no time since the mortgages are
pre-approved. And remember, this is 70-80% of the
property’s valuation when it’s completed.
It’s very likely that it will have increased in
value substantially. So you could be borrowing more
than 100% of the off-plan price you bought it at!
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Save money on currency exchange
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You can always arrange this through your bank,
but we’ve found a better way. Your bank will charge
you a fee 1% to 2%. So for a property costing
£150,000, you could be paying them up to £3,000!
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We’ve found a company that will exchange even
relatively small amounts without charging any fees.
This could save you a lot of money! But the best
news is that their spread is only 0.33%. That’s £500
on a £150,000 purchase, so you could be saving up to
£2,500!
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Compared to conventional buy-to-let
property, off-plan investments give you many
advantages:
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There’s no
need to find or buy furniture, fittings,
appliances, carpets etc.
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You won’t have to spend time for tenants or
managing the property.
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You won’t have
the worry of the property not being let and being
left vacant with no rental income being received
and expenses and mortgage payments to pay!
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There’s no
rush to decide when to sell on your property.
You’ll have up to 24 months to decide whether you
prefer to sell your property on, or to hold it
until completion.
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There’s
automatic built-in gearing. As you only have to
pay a deposit of 30% to reserve the property and
fix the price, you’ll benefit from any
appreciation on 100% of the property value.
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Because the Cyprus is developing so quickly,
there’s a wide choice of off-plan properties
becoming available at different times. But you
must be very selective to achieve the highest
appreciation. You can do as I have and build up a
varied portfolio with properties that have sea,
port or mountain views, as well as buying near or
on golf courses. We’ll also tell you about
off-plan opportunities in other areas in Cyprus,
or other countries.
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You can time
the sale of your off-plan purchases so that you
can maximise any appreciation. Developers will
normally increase the price by around 10% at the
following stages:
a) When the foundations are laid
b) When the brickwork begins
c) During the finishing stages.
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We’ll
advise you when we consider it’s the best time to
sell. |
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Prices
increase as access roads are laid, golf courses
are laid out and mature, a show home is completed
and the gardens are planted and landscaped. Other
investors or end users can then see how the
completed development will look. This increases
demand.
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Sounds good…but what are the disadvantages?
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Like every type of investment, nothing is
perfect. I’d like you to bear in mind some of the
disadvantages before you make any decision.
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Although you get all the appreciation and all of
the developer’s discount on the full purchase
price, you’ll still need to have 30% of the
initial buying price available in liquid funds.
However, there’s nothing to stop you borrowing
this, or raising it by remortgaging your house or
any other property you own.
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You must make sure that the developer:-
a) Has a good reputation for providing good
quality buildings
b) Has the correct building license
c) Will give you a bank guarantee
d) Will allow you to sell on your off-plan
purchase before completion. Most of them are happy
to, but this is not always the case.
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We only sell properties from developers that
meet these criteria.
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As with any property investment, there’s no
guarantee that prices will go up and in times of
recession they can also fall.
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Because of the
high profits that can be made, investors can get
greedy and it’s possible to over-invest. We
strongly recommend that you don’t invest any more
than you can comfortably afford.
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One thing that experience had taught me is that
nothing is certain. No matter how confident you are
that an investment will be profitable. No matter how
profitable it's been in the past, or how much due
diligence you've done, you can never be sure what
will happen in the future.
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So, whenever I'm thinking of investing, I
always like to find out what exit routes I have. I
like to weigh up the downside compared to the
potential profit.
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With my off-plan investments in Cyprus, this is
my thinking...
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1)
The developer's discount of 15% gives me a buffer if I
had to sell quickly and perhaps could only get back my
original investment. |
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2)
If necessary, I could hold on to my investments until
they were completed, and then let them. I would be
happy to just cover my expenses until I thought it was
the right time to sell them. The discount should
enable me to let at very competitive rentals if
necessary. |
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3)
I could sell separate weeks as timeshares. |
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4)
I could let the properties to a tour operator on a
long-term contract. These companies will furnish and
manage the property and see to all maintenance and
repairs. They pay a fixed return, usually 5% to 6%
p.a. of the property’s value, for as many years as is
contracted for. This is a net return as they pay all
expenses. And they will allow the owner to use it
personally for a number of weeks each year. |
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I never expect to have to use any of these exit
routes. But none of us know what the future will
bring. Of course, any of these strategies could be
used by you as well if the need ever arose.
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Don’t rush into any thing!
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It’s so easy to get carried away when you fly
away from dull grey Britain and a few hours later
you’re sitting in the warm sun with a drink in your
hand looking at yachts in a marina, or the sparkling
sea, or a lush green manicured golf course.
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Even experienced investors can throw caution to
the wind, and because they’re usually only visiting
Spain for a few days, they haven’t the time or
facilities to carry out the same due diligence they
would do for a property purchase in the U.K.
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But my staff, our surveyor, and our associates
have! So while we’re confident in recommending
off-plan investments to you, we only want you to go
ahead if you feel quite comfortable with the concept
and only invest amounts you can comfortably afford.
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What to do next…
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With our help, and advice, and by using our
knowledge and contacts, you’ll maximise your chances
of making extremely profitable investments while
minimising the risk. And all this with no tenants
or management!
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Here’s all you have to do…
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STEP 1 |
Just call us on
07990556718
or send us an email to
info@home-overseas.com.
Give your name, telephone number, and email
address (if you have one). We promise that
your personal details will only be used for
this purpose. It would be helpful if you let
us know what you’re interested in, how much
you would like to invest or call us to discuss
it.
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STEP 2 |
We’ll put you on our priority list and contact
you the moment we hear of any bargains or
special opportunities. You can ask to be taken
off the list at any time.
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STEP 3 |
Once you’re thinking of buying, we’ll arrange
a subsidised inspection trip for you.
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And all our services are completely free of
charge!
Don’t miss out! Contact
us now:
Mr
Mike Daniel / tel:
07990556718 /
info@home-overseas.com
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