InvestinCyprus.com will shortly announce the introduction of the first further advance/re-mortgage product in Cyprus.
Given the size of the company's mortgage book, InvestinCyprus.com has huge leverage in the market which greatly benefits our clients.
By taking a further advance to release equity an investor can leave little if any cash tied up in the investment thus dramatically improving return on investment. It also allows for the proceeds to be re-invested.
Further details will be announced to our clients shortly
Wednesday, June 28, 2006
Mimosa Villas, Kapparis - 12% below current market value
We have received a fantastic response to the e-mail sent out last week regarding Mimosa Villas, Kapparis.
We have now received the independent valuation appraisal which values the project about 12% below current market value, although completion is in March 2009, not today.
The appraisal also states that the size of the properties is greater on a square metre basis than originally thought.
In outline, a 2 bedroom villa (all inclusive of swimming pool, white goods and air-conditioning split units) is CYP1444 per square metre with an almost 3 year off plan timeframe for further growth. There are also 3 bedroom villas.
A comparable development only a few hundred metres on the same road and arguably not in as good a location as Mimosa, is selling with a completion date of April 2007 at CYP 1829 to CYP1989.
We can supply you with the independent appraisal, comparable development pricing and also details about the villas, prices, mortgages and rentals 12 noon Monday 3 July 2006.
InvestinCyprus.com can deliver these type of projects to our clients as we have significant leverage in the Cyprus property market. The huge reduction in a developers cost base in terms of interest payments on loans, marketing, sales, exhibitions, staff, inspection visits etc when a development sells very quickly can be passed on to the investor.
If you haven’t yet registered to receive details of Mimosa Villas, Kapparis then please complete the form at:
http://www.investincyprus.com/contactus.html
adding Mimosa in the comments box.
We have now received the independent valuation appraisal which values the project about 12% below current market value, although completion is in March 2009, not today.
The appraisal also states that the size of the properties is greater on a square metre basis than originally thought.
In outline, a 2 bedroom villa (all inclusive of swimming pool, white goods and air-conditioning split units) is CYP1444 per square metre with an almost 3 year off plan timeframe for further growth. There are also 3 bedroom villas.
A comparable development only a few hundred metres on the same road and arguably not in as good a location as Mimosa, is selling with a completion date of April 2007 at CYP 1829 to CYP1989.
We can supply you with the independent appraisal, comparable development pricing and also details about the villas, prices, mortgages and rentals 12 noon Monday 3 July 2006.
InvestinCyprus.com can deliver these type of projects to our clients as we have significant leverage in the Cyprus property market. The huge reduction in a developers cost base in terms of interest payments on loans, marketing, sales, exhibitions, staff, inspection visits etc when a development sells very quickly can be passed on to the investor.
If you haven’t yet registered to receive details of Mimosa Villas, Kapparis then please complete the form at:
http://www.investincyprus.com/contactus.html
adding Mimosa in the comments box.
Friday, June 23, 2006
EU gives Cyprus the thumbs up on budget deficit
THE European Commission yesterday recommended that the Council abrogate the Excessive Deficit Procedure (EDP) against Cyprus, after the island’s deficit fell to 2.4 per cent of GDP in 2005 and is projected to decrease further in 2006 and 2007.
The Commission also said that Cyprus’ debt to GDP ratio also dropped to 70.25 per cent in 2005 and is forecast to drop to 68 per cent in 2007.
“Cyprus would be the first of the six new Member States that were put into the EDP upon European Union membership to see the procedure abrogated,” a statement from the Commission said.
“It would also be the first procedure to be closed since the Netherlands, in June 2005. In total, there remain 11 countries in excessive deficit procedure, five of which are in the euro area.”
Cyprus is racing towards euro entry in January 1, 2008 but must first meet the Maastricht criteria to bring the fiscal deficit under the 3.0 per cent ceiling. To reach the set target, the government has implemented a strict budgetary regime in line with the convergence programme it has submitted to the EU.
“The Cypriot case shows that budgetary consolidation undertaken with resolve can achieve sustainable results. I encourage Cyprus to pursue this route and achieve its objective of having finances close to balance by the end of the decade given the high risk arising from the costs of an ageing population,” said Joaqu?n Almunia, European Commissioner for Economic and Monetary Affairs.
According to the Commission’s spring forecasts, the deficit and the debt are expected to fall further in 2006 and 2007, thus staying well below the 3.0 per cent reference value and allowing the debt ratio to diminish sufficiently towards the 60 per cent of GDP reference value.
“That points to a durable correction of the excessive deficit, thanks to the substantial and largely structural measures taken by the Cypriot authorities,” the Commission statement said. “Therefore, the Council is invited to conclude on July 11 that Cyprus no longer has an excessive deficit.”
Cyprus had a deficit of 6.25 per cent in 2003. The Council recommended a correction below 3 per cent by 2005 in a credible and sustainable manner, while ensuring that the rise in the debt ratio was brought to a halt in 2004 and reversed thereafter.
“This has been achieved,” said the Commission.
Source: Cyprus Mail
The Commission also said that Cyprus’ debt to GDP ratio also dropped to 70.25 per cent in 2005 and is forecast to drop to 68 per cent in 2007.
“Cyprus would be the first of the six new Member States that were put into the EDP upon European Union membership to see the procedure abrogated,” a statement from the Commission said.
“It would also be the first procedure to be closed since the Netherlands, in June 2005. In total, there remain 11 countries in excessive deficit procedure, five of which are in the euro area.”
Cyprus is racing towards euro entry in January 1, 2008 but must first meet the Maastricht criteria to bring the fiscal deficit under the 3.0 per cent ceiling. To reach the set target, the government has implemented a strict budgetary regime in line with the convergence programme it has submitted to the EU.
“The Cypriot case shows that budgetary consolidation undertaken with resolve can achieve sustainable results. I encourage Cyprus to pursue this route and achieve its objective of having finances close to balance by the end of the decade given the high risk arising from the costs of an ageing population,” said Joaqu?n Almunia, European Commissioner for Economic and Monetary Affairs.
According to the Commission’s spring forecasts, the deficit and the debt are expected to fall further in 2006 and 2007, thus staying well below the 3.0 per cent reference value and allowing the debt ratio to diminish sufficiently towards the 60 per cent of GDP reference value.
“That points to a durable correction of the excessive deficit, thanks to the substantial and largely structural measures taken by the Cypriot authorities,” the Commission statement said. “Therefore, the Council is invited to conclude on July 11 that Cyprus no longer has an excessive deficit.”
Cyprus had a deficit of 6.25 per cent in 2003. The Council recommended a correction below 3 per cent by 2005 in a credible and sustainable manner, while ensuring that the rise in the debt ratio was brought to a halt in 2004 and reversed thereafter.
“This has been achieved,” said the Commission.
Source: Cyprus Mail
Mimosa Villas pre-launch registration - outstanding investment opportunity
In the Jet-to-Let Bible: the secrets of overseas property investment we examined how multiplier effects have a positive long-term influence on property prices.
An example of a multiplier effect in Cyprus is Kapparis, Paralimni which has benefited substantially from the development and sale of upmarket villas to wealthier individuals.
These wealthier individuals demand higher quality goods and services which has the effect of attracting additional buyers and further developing resulting in an expansion of services on offer. However, given its geographical location, there is only a limited amount of land which can be developed.
I have lived near the beach in Kapparis for almost 2 years and have witnessed the general improvement in infrastructure and services. In the last month, 3 new quality restaurants have opened and another one is on the way. The growing ex-pat community is setting up business or simply retiring. This growing community requires accommodation, whether purchased or rented.
The key is that the area is not a seasonal tourist destination but an all-year round residential area which just happens to attract tourists because of the beaches and restaurants. The rental market is strong, particularly with Cypriots. At the weekend, wealthy Cypriots in Nicosia head for this area to their second homes or rental properties.
Prices and property values are rising with many investors having done particularly well over the last couple of years. The two main property investor hotspots of Famagusta District (centred on Paralimni) and south Larnaca will continue to lead the way in terms of capital growth and rental income on the island of Cyprus .
We have a new villa development to be released shortly, located in a prime location in this fast growing area of Kapparis. These villas are at the luxury end with private pools and a Jacuzzi in the bathroom, 3 minutes to the beach and 3 minutes to the best restaurant in the district, we are confident that it will sell very quickly (Our last villa development sold out in one day). Completion is set for 2009 allowing a considerable time for off-plan geared capital growth and then 30 year mortgages with the first 5 years interest only on 80% LTV. 100% mortgages are also available (subject to status)
But the biggest plus is that we have secured a price below market value due to our company’s strong leverage in the market.
Details will be available on our website from 1200 noon on Monday 3 July 2006 and will be offered on a first come, first served basis.
The details will include an independent valuation appraisal by the largest Royal Institute of Chartered Surveyors practice on the island to verify the discount to market value. We will send a second e-mail once we have confirmation of the independently verified discount.
This is an outstanding opportunity to invest in the fastest growing area in Cyprus with excellent long term growth potential.
To register for this development please fill out the form at:
http://www.investincyprus.com/contactus.html
adding “Mimosa Villas” in the comment box
You will then receive an email with details from 1200 noon on Monday 3 July 2006 and will be offered your choice of plot on a first come, first served basis.
An example of a multiplier effect in Cyprus is Kapparis, Paralimni which has benefited substantially from the development and sale of upmarket villas to wealthier individuals.
These wealthier individuals demand higher quality goods and services which has the effect of attracting additional buyers and further developing resulting in an expansion of services on offer. However, given its geographical location, there is only a limited amount of land which can be developed.
I have lived near the beach in Kapparis for almost 2 years and have witnessed the general improvement in infrastructure and services. In the last month, 3 new quality restaurants have opened and another one is on the way. The growing ex-pat community is setting up business or simply retiring. This growing community requires accommodation, whether purchased or rented.
The key is that the area is not a seasonal tourist destination but an all-year round residential area which just happens to attract tourists because of the beaches and restaurants. The rental market is strong, particularly with Cypriots. At the weekend, wealthy Cypriots in Nicosia head for this area to their second homes or rental properties.
Prices and property values are rising with many investors having done particularly well over the last couple of years. The two main property investor hotspots of Famagusta District (centred on Paralimni) and south Larnaca will continue to lead the way in terms of capital growth and rental income on the island of Cyprus .
We have a new villa development to be released shortly, located in a prime location in this fast growing area of Kapparis. These villas are at the luxury end with private pools and a Jacuzzi in the bathroom, 3 minutes to the beach and 3 minutes to the best restaurant in the district, we are confident that it will sell very quickly (Our last villa development sold out in one day). Completion is set for 2009 allowing a considerable time for off-plan geared capital growth and then 30 year mortgages with the first 5 years interest only on 80% LTV. 100% mortgages are also available (subject to status)
But the biggest plus is that we have secured a price below market value due to our company’s strong leverage in the market.
Details will be available on our website from 1200 noon on Monday 3 July 2006 and will be offered on a first come, first served basis.
The details will include an independent valuation appraisal by the largest Royal Institute of Chartered Surveyors practice on the island to verify the discount to market value. We will send a second e-mail once we have confirmation of the independently verified discount.
This is an outstanding opportunity to invest in the fastest growing area in Cyprus with excellent long term growth potential.
To register for this development please fill out the form at:
http://www.investincyprus.com/contactus.html
adding “Mimosa Villas” in the comment box
You will then receive an email with details from 1200 noon on Monday 3 July 2006 and will be offered your choice of plot on a first come, first served basis.
Bank of Cyprus to bid for Emporiki Bank
THE Bank of Cyprus (BoC) will today disclose details about its takeover bid for Greek lender Emporiki, as market analysts and investors alike in Cyprus and Greece hold their breath.
Earlier this month, France's Credit Agricole launched a friendly takeover bid for Emporiki that valued Greece's fourth-largest lender by assets at 3.1 billion euros.
The French bank already holds a 9 per cent stake in Emporiki, while a further 40 per cent is controlled by the Greek government, which is seeking to privatise the bank.
The BoC has confirmed it plans to buy out 100 per cent of Emporiki.
The BoC’s CEO Andreas Eliades was yesterday in Athens for talks with Greek Finance Minister Giorgos Alogoskoufis.
“Our bid will be comparable and autonomous,” Eliades told reporters after his meeting with the Greek minister.
The BoC will be convening a news conference today, giving facts and figures about its takeover bid and recapping developments in the issue, described by some Greek papers as a thriller.
Reports from Greece suggest that other banks might enter the fray and contest Credit Agricole.
For his part, Alogoskoufis refused to elaborate on what was discussed with Eliades, except to say the Greek government would examine all bids for Emporiki that were comparable to that launched by Credit Agricole.
One scenario floated in the Greek press is that the Greek government will accept a cash-only bid for 11 per cent of its stake in Emporiki.
Meanwhile analysts predict that if the BoC does go ahead, its bid will be for somewhere between 26 to 28 euros per share.
The BoC’s own stock in Nicosia was down 7.6 per cent, while Emporiki’s was 1.32 per cent lower at 26.94 euros. Analysts said the drop was fuelled by concerns on how the Bank of Cyprus would fund the move.
The largest financial institution on the island, the BoC had total assets of 22.32 billion euros at end-2005 and a 3.9 per cent share of the Greek market.
2005 was a highly successful year for the bank, which posted net profits of £72 million, and the group will be commencing full-scale operations in Russia and Romania by early 2007.
Cypriot analysts said rumours were going around in the market that the Bank of Cyprus mounted its bid for Emporiki in an attempt to fend off a perceived attempt by another Greek bank, Piraeus, to buy a large stake in the Cypriot bank.
By law, suitors require Central Bank permission to directly control more than 10 per cent of a Cypriot bank.
Source: Cyprus Mail
Earlier this month, France's Credit Agricole launched a friendly takeover bid for Emporiki that valued Greece's fourth-largest lender by assets at 3.1 billion euros.
The French bank already holds a 9 per cent stake in Emporiki, while a further 40 per cent is controlled by the Greek government, which is seeking to privatise the bank.
The BoC has confirmed it plans to buy out 100 per cent of Emporiki.
The BoC’s CEO Andreas Eliades was yesterday in Athens for talks with Greek Finance Minister Giorgos Alogoskoufis.
“Our bid will be comparable and autonomous,” Eliades told reporters after his meeting with the Greek minister.
The BoC will be convening a news conference today, giving facts and figures about its takeover bid and recapping developments in the issue, described by some Greek papers as a thriller.
Reports from Greece suggest that other banks might enter the fray and contest Credit Agricole.
For his part, Alogoskoufis refused to elaborate on what was discussed with Eliades, except to say the Greek government would examine all bids for Emporiki that were comparable to that launched by Credit Agricole.
One scenario floated in the Greek press is that the Greek government will accept a cash-only bid for 11 per cent of its stake in Emporiki.
Meanwhile analysts predict that if the BoC does go ahead, its bid will be for somewhere between 26 to 28 euros per share.
The BoC’s own stock in Nicosia was down 7.6 per cent, while Emporiki’s was 1.32 per cent lower at 26.94 euros. Analysts said the drop was fuelled by concerns on how the Bank of Cyprus would fund the move.
The largest financial institution on the island, the BoC had total assets of 22.32 billion euros at end-2005 and a 3.9 per cent share of the Greek market.
2005 was a highly successful year for the bank, which posted net profits of £72 million, and the group will be commencing full-scale operations in Russia and Romania by early 2007.
Cypriot analysts said rumours were going around in the market that the Bank of Cyprus mounted its bid for Emporiki in an attempt to fend off a perceived attempt by another Greek bank, Piraeus, to buy a large stake in the Cypriot bank.
By law, suitors require Central Bank permission to directly control more than 10 per cent of a Cypriot bank.
Source: Cyprus Mail
Monday, June 5, 2006
The Jet-to-Let Bible reaches Amazon bestseller spot before publication
"The Jet-to-Let Bible: the secrets of overseas property investment" has stormed to Number 1 Bestseller in its category on Amazon, even before a single page has been printed. It is also in the top 10 of all property investment books, beating such notables as Donald Trump.
The book, written by Dominic Farrell, will be available in good bookshops such as WH Smith and Waterstones from 16th June 2006, but is already available at amazon.co.uk
Order your copy today and learn the successful techniques used by property investment millionaires:
http://www.amazon.co.uk/exec/obidos/ASIN/190526111X/qid=1149544921/sr=1-6/ref=sr_1_3_6/203-7861375-3298301
The journey begins with the first step.
The book, written by Dominic Farrell, will be available in good bookshops such as WH Smith and Waterstones from 16th June 2006, but is already available at amazon.co.uk
Order your copy today and learn the successful techniques used by property investment millionaires:
http://www.amazon.co.uk/exec/obidos/ASIN/190526111X/qid=1149544921/sr=1-6/ref=sr_1_3_6/203-7861375-3298301
The journey begins with the first step.
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