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Cyprus Townhouse Property

If you find New Build Villas or Cyprus Apartments lacking in the desired character you are looking for, then there are still plenty of older Townhouses that come onto the property market in the larger towns like Limassol, Larnaca and Paphos.

Although, the recent popularity for buying and investing in Townhouse properties has made finding a bargain quite rare, there are still opportunities to be had in buying this kind of property at a reasonable price. That is if know where to look and are prepared to do some searching around.

The main point to remember when buying a Cyprus Townhouse is that such a property can, in the long run, prove more expensive than buying a brand new Villa in Cyprus. For example, if the house needs any restoration or improvements -- as many do-- this can bump up the potential cost of the investment quite considerably.

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It's worth bearing in mind that Property in Cyprus can often detiorate far quicker than say in the UK. This is probably due to the gloriously long sunny days Cyprus has to offer. So, if you do plan on buying a Townhouse for the purpose of renting it out as a Holiday Home, then it would be advisable to budget into any costs the fees of a reliable Property Management Service who will look after your investment, maintain the property in your absence, and even handle the letting arrangements for you.

As with buying any property in Cyprus, the house buyer needs to take in to consideration the area in which they want to live. Resale Townhouses and Villas are abundant in the main areas of Limassol, Paphos and Larnaca, but other areas such as Coral Bay, Protaras and Paralimni are fast becoming property investment hotspots. With this in mind, it's always a good idea to visit Cyprus and spend time immersing yourself in the everyday ways of life, and get a general feel for a chosen area before buying your property there.

If the Townhouse is relatively old, perhaps in one of the outlying areas or villages, you might find sales are made by word of mouth and not by real estate agents or advertising. So here a more direct approach is required, and chatting to the locals is almost a necessity to find out what is available on the property market to buy.

But, before making a decision on any property purchase, it's always wise to seek the advice of a good Architect or Quantity Surveyor. They will be able to give you quotations on improvements and repairs that will be necessary to bring the property up to scratch once you have bought it. Only then will you fully know if the bargain you think you have found, truly is a bargain.

Building methods used on Cyprus can vary depending on the region and type of property you seek. Modern Villas and Townhouses are now usually built to exacting standards, but older properties could well play host to a variety of building malpractices. In these properties the quality of build really can range from excellent (with every good building practice used) to poor (where the house will be of high maintenance and detiorate rapidly).

A few examples of poor building practice in older Townhouses are as follows:

Lack of insulation - the house will be hot in the summer and cold in the winter.

Inadequate drainage - causes frequent blockages and cannot cope with modern kitchen waste disposal units.

Spritz is used on external walls - this is a cheaper alternative to the traditional rendered walls and can crack, discolour and leak.

No damp proofing - the house can eventually become cold, damp and musty smelling.

No foundations - some properties are built on floating concrete rafts without the proper foundations. Houses constructed in this way, on soft ground, are liable to eventually show cracks in walls, floors and tiles as the building settles and flexes.

Pipes - copper water pipes are often set straight into the concrete rafts, this creates a major problem for maintenance by plumbers

Electrics - cables are often set straight into the wall and rendered over. Apart from the safety factor, this can also prove difficult for any electrical maintenance.

Although this list isn't exhaustive, on occasions they do crop up in older types of property, so it's always good to be aware of them and fully understand their future implications to your finances should they have been used in the property you're about to buy.

 

 




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