Property News - November 2008
Welcome to our property investment newsletter, the aim of which is to keep you up to date and informed as to the most recent property trends.
In response to the overwhelming amount of enquiries that we have received in regards to our 5 part series on “Living and Investing in Cyprus” we have now also managed to negotiate heavily discounted inspection trips to the island.
You will be given a property tour that covers studio holiday style apartments, 1 & 2 bed flats, penthouses and custom built designer villas. Take this opportunity to be wined and dined while we demonstrate why the islands ascension into the EU makes Cyprus the property investment destination of choice.
Please also take note of the 5th article in this month’s newsletter entitled “Now Anyone can own a Piece of Paradise” in which our founding member Yianni Pavlou covers a Questions and Answers session on “Cyprus Lifestyle Properties.”
This the final article in a four part series, on buying property in South Africa as a Resident or Non- Resident, deals with such issues as: who chooses which attorneys, whether transfer and bond documents can be signed from overseas, additional costs other than the purchase price and repatriation of funds once a property is re-sold.
The prime residential market is weakening across the world – due to the fallout from the credit crunch and declining economic conditions in western markets.
The value of urban development land outside London has fallen by 33% over the past year and by 15% in the past quarter alone, according to the newly established Knight Frank Residential Development Land Index.
Residential building statistics released by Statistics South Africa for the period January-July 2008 indicate that activity in the home building sector are still under severe pressure, despite some improvement with regard to building plans approved in July compared with June.
Cyprus is currently one of Europe’s and the World’s top performing and upcoming property destinations of choice. In this article, we answer some of the most frequently asked questions and will help clear up some of the misconceptions that pertain to investing in the Cyprus property market.