Buy Cyprus properties in the winter months.
You can save yourself a lot of money if you are scheduling the purchase of a Cyprus property during low season. Buying in the winter, especially in December is a great time, as people will need the money fast, and the demand is low. That way you can pick up a quick bargain on a stunning Cyprus home.
The market is usually falling from November until the New Year, as the demand is not as high as in the summer. If you can buy your home in Cyprus during this time, you can benefit from the low competition and better prices as well. The least sales are made in December, and if the seller needs the money fast, you can buy a home for much less.
If the seller hasn’t sold the home in the summer, they might reduce the price or withdraw the listing temporarily. But if they are desperate for the money, they will leave the listing on, and you can make a lower offer. If the home is still not sold by December, the price they would accept will be further reduced. And that can save you thousands of Euros, if you plan ahead.
If the seller is looking to move out of the country, move in to a new home by Christmas or New Year, or just needs the money, they will accept a much lower price than the original listing. If you buy your Cyprus home in December, you can save a lot of money, and spend it on home improvements or moving costs.
Hot markets cost you more in Cyprus
If you decide to buy a home in Cyprus after April, you will have to face with a 30-40 % price increase. That is how the Cyprus properties market works, and you might end up losing money. Prices are pumped up as agencies and sellers know that the demand is going to be high.
Families with children start looking for Cyprus properties from April to June, as they want to schedule the move after kids break up from school. Winter in England and Western Europe is a depressing season; people don’t like starting new things or making decisions during this time. And obviously, homes look more attractive in the summer of spring sunshine than in the winter. People who plan ahead can win the game and pick up a great price in the winter, while if they go with the crowd, they have to pay a higher price.
