Prices exclude electricity except for the weekly rates shown.
All properties are apartments with communal pools unless the Type includes a V for villa.

Please email summer@cyprus-apartment-rentals.co.uk with the # for the property, the dates you require and how many guests and we will contact you with further details.

1. Water is a basic necessity and it should be your top priority to pay this bill ahead of any other. You might even want to set up a direct debit to ensure it is paid every 3 months and then collect the funds from your tenant. Fortunately water bills are quite modest in Cyprus. Not only is water a basic necessity but if you do get disconnected for none payment many Councils will not reconnect the water supply until all refuse bills are also paid (see item 6 below).

2. Electric bills should be your next priority as your tenants will not be very pleased if the air con isn’t working in mid summer (or mid winter as they also heat the properties). Unless you have tenants staying for less than a month the rental price should exclude electric but normally electricity is only transferred to a tenants name for rentals of 6 months and longer. So through the summer you will be responsible for ensuring the electricity is paid even if the guests reimburse you at the end of their stay (probably from the breakages bond collected when the rental began).

3. Management Company – unless you live on the island you should have a company to manage your property. This may be the same company as your Rental Agent but in many cases they are separate companies, especially if you source your own tenants. Guests will not be very happy if the Management Company refuses to carry out essential repairs because you haven’t paid them for previous jobs they have carried out i.e. cleaning, security checks, plumbing etc.

4. Rental Agent – unless you are fortunate not to need tenants, either short or long term, you will probably have commission to pay from time to time. This should be your next priority as agents will not source tenants for owners that don’t pay them. Many agents ensure they receive their commission by deducting it from the gross rental income so it may not be a bill that you have to prioritize. If required the rental agent will also be able to pay the other costs within this list on your behalf, perhaps with the exception of the mortgage.

5. Communal Fees unless you own a private villa there will be communal fees to pay for the upkeep of the complex and common areas / facilities. Although this is towards the bottom of the list it doesn’t mean it has low priority. If the fees are not paid you and your guests will not be able to use the communal facilities (pool, gym, tennis court etc). Your tenants will have a legal right to terminate the tenancy agreement if the facilities they are helping to pay for are not available to them. Similarly short term guests could ask for a refund if for example the pool is not available due to inadequate maintenance.

6. Refuse Bills compared with Council Taxes in the UK are a modest amount and less than €100 per year in some areas. The bills are issued annually and have a low payment priority as generally the only way the Council can force you to pay it is if your water is disconnected for none payment (see item 1 above).

7. Mortgage – some owners consider this their top priority but we consider it to be the last payment you make (especially if you were mis-sold the mortgage in the first place). Banks today are in a VERY weak position, especially in Cyprus and even though they will impose interest and penalties on late payments it is less important than water and electricity etc.

In our next article we will outline some of the preparations you should be making now in readiness for the arrival of your guests this summer (servicing air con units, weeding the garden and providing digital TV to Cypriot guests etc).

Despite changes in the law during 2011 problems with title deeds continue to pile up for property buyers in Cyprus.

Banks in Cyprus provide mortgage funds to developers to build properties AND then the same banks provide mortgages to the buyers of the properties. The mortgages provided to the developer are not normally disclosed to the property buyers. The lawyers, banks and developers know that many buyers would not proceed with the purchase if they knew they were being offered a second charge mortgage. The first charge over the property is between the bank and the developer.

This means that if the developer fails to repay the mortgage before the title deeds are issued then the banks can auction off the property to repay all or part of the developers debt. When you consider it takes many years for title deeds to be issued in Cyprus it leaves buyers in constant worry that their developer may default on the mortgage.

Alpha Bank have recently applied to auction off a group of properties mortgaged to a developer that ceased trading some time ago. This leaves the property buyers in danger of becoming homeless even though they may have paid off their own mortgage on the property. Please help us put a stop to the whole Cyprus title deeds debacle by signing the petition to halt the auction at title deeds fiasco.

If the problems with title deeds in Cyprus are not resolved the property market will never recover. Just 61 signatures short of 1,000 at the latest count on the petition to stop the auction. Please sign the petition if you haven’t already done so and  let us all hope the crazy Cyprus title deeds problems are resolved quickly

[See post to watch Flash video]

I was just about up to date with my paperwork and then BANG the Cyprus weather took a turn for the worse.

Thunder, lightening and heavy rain. Such weather is not uncommon in Cyprus especially after the long, hot summers but yesterday it rained hard ALL day and late into the early hours of this morning. Rained again for much of today but not nearly as heavy as it was yesterday. Temperatures are also well down, certainly compared with recent years (I was sunbathing on Christmas Eve last year). As properties in Cyprus don’t normally have centrally heating it is important that owners have some form of heating for winter guests. Most air conditioning units will blow hot air but it is important they are in working order throughout the year in case of a sudden cold spell. Alternatively halogen heaters can be used and even though gas heaters are cheaper to run they are not recommended as they can create problems with damp. Roads flooded, villas and apartments damaged and grey skies (rare in Cyprus) to boot.
Last night I was at a top floor apartment with a sizeable puddle of water in the lounge. Looks like the driving rain had brought water in from under the door. Today I had calls from tenants and property maintenance companies in the Kapparis and Paralimni areas. Modern apartment blocks with the roofs leaking and ground floor apartments flooded out. Fortunately as most villas and apartments don’t have fitted carpets it means the damage caused by the almost unseasonal Cyprus weather is relatively minor.

The danger from forest fires has all but vanished following a single days rain and the farmers will be much happier now.

Along the top of our forum pages there are links to forecasts for Cyprus weather for up to 10 days ahead and historical data for previous months. In the summer I hardly ever look at the forecasts as it never changes, hot, very hot and sunny with no chance of rain. Even outside the summer months the chances of rain are quite low. The forecast may show several days in ‘winter’ with 20% to 40% chance of rain and even though this is much higher than the 0% in summer it generally means it probably will NOT rain.

[See post to watch Flash video]

Cyprus weather doesn’t generally stay bad for long, unlike some countries I could mention, and the forecast looks to be much improved over the next week or so.

We are now well into the summer rental season and all seems to be going well. Revenue from visitors is reported to be up 13% on the same period last year although many local ‘businesses’ appear to go out of their way to ensure this years tourists never return to the island. Local taxi drivers are ‘demanding’ that bus fares are increased and service levels reduced so they can fleece more tourists. Lidl’s in Protaras suffered an arson attack a week after opening as it provides value for money goods and the businesses here do not want tourists to have such things. Fortunately it wasn’t closed for long so hopefully not too much damage to the tourist trade despite the efforts of the arsonist.

Most of our guests are now settled into their chosen rental properties as we specialise in 2 and 3 month rentals to affluent families from Nicosia. Below is a list of issues that have arisen with / for guests in recent weeks:

1. ‘Broken’ TV’s – Cypriot digital TV has been running alongside analogue TV for ‘years’ here in Cyprus and the scheduled date for analogue to be switched off was the 1st July 2011. Probably one of busiest days of the year for property rental businesses. Cyprus is not known for adhering to timetables of any nature so the expectation by many was that analogue TV would still be available many months after the 1st July. No such luck and ‘all’ the TV’s on the island stopped working at 1 minute passed midnight. In truth some people still had working TV’s as they had upgraded their TV’s with MPEG4 decoders or bought the very latest TV sets. Until a few weeks before the switch off the decoders were selling for up to €65 and very few people were buying them. Suddenly the price dropped to €29.90 at virtually all stores (probably set by the Government to ensure a smooth transition to digital). On the 1st July many stores were out of stock though as even Cypriots weren’t really expecting the analogue system to end on the 30th June. Very few TV’s have MPEG4 decoders as standard, MPEG2 yes but that will not work here. So if you haven’t already bought a decoder you will need one as soon as possible (plus scart or HDMI cable). I have been quite surprised how many owners have modern, large, flat screen TV’s but neither satellite or local TV aerials. Guests can’t really be expected to watch DVD’s especially if they are staying for 3 months. I advocate dual systems to cater for local (Cypriot) guests and one off payment ‘Nilesat’ type satellites systems for international guests.

2. Keys – guests lock themselves out from time to time and the security feature of the locks here means they will need to be replaced if they leave the key in the back of the door when they lock themselves out. As many guests return to Nicosia on Sunday and return each Friday they sometimes forget to bring the keys with them.

3. Air Con – units should be serviced in late spring at a cost of around €25 per unit. Costs are considerably more if they are serviced / regassed in peak summer. Air con is essential in bedrooms but some guests are happy to rent properties without air con in the living rooms as they can have doors and windows open and fans on during the day. The ElectriSaver 15 units are useless, please do not use them unless you are a scrooge and clearly state air con will run for a maximum of 1 hour within your marketing. Even the Electrisaver 30 units, which run for 2 hours, are frowned upon by many of our guests especially as they pay for the electricity and not the property owner.

4. Water - low pressure or no water at all. Please ensure you pay your water bills (tenants can’t pay water bills in the Paralimni area). If the water is disconnected you may need to pay the 2009 and 2010 municipal tax totalling €200 (plus the outstanding water bill and reconnection fee) before they will reconnect you. Eventually the Mayor may decide to cut off your water supply if the municipal taxes (Council Tax in the UK) are not paid but politically this might be too dangerous for him.

5. Misc – broken kettles, bulbs, hair dryers, sofa beds and remote controls for TV and air con either missing or with no batteries are just some of the other issues we have faced in recent days. Although each in turn is quite minor we are not responsible for these items if you have your own Property Management Company. Please ensure they check the properties over to ensure a smooth transition between rentals.

Title Deeds – if you receive letters or emails from solicitors or agents offering to obtain your deeds for a fee of €3000+ please do not take them up on their offer. This is a service they should have provided when you bought the property and they are offering no timescale to obtain the deeds (and the fees are paid in advance).

Summer Rentals – we still have a few rental properties available for the summer, please text your requirements and email address to +357 9983 6563 or +44 7822 185 982 if you are still trying to find somewhere for the summer.

Property Sales – there are certainly many more property buyers in the area at this time of year. If owners are realistic on prices (and preferably those without Swiss franc mortgages) there are buyers available for properties with AND without title deeds.

The homepage is now back to a PR3 having fallen to zero following the revamp 6 months ago. Over 850 UNIQUE visitors a month and Google Search Engine Rank Position (SERP) of 1 for at least one quite competitive keyphrase. The pictures and videos help achieve this number 1 ranking but unfortunately Internet Explorer takes forever to load some of the pages (pretty poor user experience). Try Mozilla Firefox, much better web browser in my opinion.

Think that is enough for now but please feel free to add your feedback below (no spam please).

I was recently contacted by a Cyprus property owner that wanted to know why potential clients were contacting him with rental offers below his published rates. My response which applies to both Cyprus Rental And Resale Property Prices was as follows:

What I would say is I do not know anyone that has bought property in recent years that covers their total outgoings by renting the property out. Well I know one guy and that is because he has advanced SEO skills and devotes a large proportion of his time to sourcing tenants for his properties. That person is me. I bought 30 properties at the peak of the market and I have REALLY struggled to cover the mortgage costs on the properties. That is as a qualified mortgage broker, Management Accountant, full time property sourcer / investor and the advanced SEO skills.

Each individual’s circumstances are different but at the end of the day there is a market rent for any given property at any given time and generally this has little bearing on the market value or mortgage costs of the property. Rental prices in the UK have started to increase slightly in recent months as demand for rental properties is on a steady increase and supply is limited. This increase though is just recovering some of the fall in rental values over the previous years. However in Cyprus supply is far in excess of demand and rental values continue to fall.

€1.5m villas currently rent for €1,500 per month i.e. just 1.2% GROSS yield for the property owner. As I said I don’t really know anyone that covers their outgoings on rental (unless they bought many years ago when property here was cheap or they paid a cash deposit of 40%+).

Please don’t be offended by the comments above and I am not trying to patronise you.

Many of the enquiries you get come from Cypriots in Nicosia and as ‘locals’ they know very well the position with over supply and empty apartments. Admittedly they pay below the values offered by foreign nationals but this is because they could drive to and from Nicosia every day during the summer rather than pay what they consider to be excessive rental costs. Some Cypriots in Nicosia earn a good living but the average wage in Cyprus is VERY low (some say average €8,000 to €10,000 per annum), hence the low prices when renting to them.

Ideally you should be renting to Russians, Germans and Brits etc as they certainly pay more than the Cypriots. Unfortunately supply of apartments far outweighs demand from foreign nationals. In peak months demand is quite reasonable and even Cypriots that have left it late to book an apartment have to bite the bullet and pay a reasonable cost for the rentals. The dilemma for property owners though is do you turn away the rentals until the last minute (say late April or early May) but then risk the apartment being empty over the summer because everyone has already booked elsewhere. It is a fine line between obtaining maximum rental income and receiving no rental income and I have no solution to this dilemma.

Cyprus Rental And Resale Property Prices

Cyprus rental and resale property prices in 2011

There will always be someone cheaper than you if you are looking to sell or rent you property in Cyprus, perhaps they have a larger mortgage or are simply more motivated to sell or rent their property than you are. It doesn’t mean you have to match or better their price and if you did their greater motivation would simply drives the prices even lower. Establish a sensible price based on average prices of comparable properties and make your property stand out from the rest. This is why we offer our clients the option to have HD video footage with their property listing as there are still very few property portals, especially in Cyprus, offering this feature.

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• Larnaca Levadia Modern 2 Bedroom Rental Apartment
• Modern 2 bedroom apartment with 2 bathrooms and covered parking now available for long term rental.
• Call +357 9983 6563 or +44 (0)7822 185982
• Livadhia, Cyprus
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• Oroklini Apartment For Sale or For Rent in Cyprus
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  Oroklini apartment for sale or for rent and perfectly located for easy access to the Cyprus motorway network. Ideally situated close to Larnaca, this two bedroom apartment is available for sale furnished or unfurnished from just €109,950.
• Call +357 9983 6563 or +44 (0)7822 185982
• Oroklini, Cyprus
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• Eva Court Apartment Rentals
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  Eva Court Apartments are located just off the 'strip' at Kapparis near Paralimni on the popular East coast of Cyprus. Just a short drive from Ayia Napa and Protaras and a few minutes walk to the beach.
• Call +357 9983 6563 or +44 (0)7822 185982
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• Modern 2 Bedroom Apartment For Sale or For Rent
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  A modern two bedroom apartment on the East Coast of Cyprus near the popular holiday resorts of Protaras and Ayia Napa.
• Call +357 9983 6563 or +44 (0)7822 185982
• €126,995

• 5 Bedroom Villa Vrysoulles Eastern Cyprus
• Modern 5 bedroom villa with large pool and a good sized plot in the popular location of Vrysoulles.
• Call +357 9983 6563 or +44 (0)7822 185982
• Vrysoules, Cyprus
• €309,000

Cyprus Rental And Resale Property Prices

Nice morning at Cape Greco today.

Unedited video in High Definition (click bottom right for full screen HD if you have a high speed broadband connection).

Watch the daily Cyprus news broadcast in English from the state owned CyBC, Cyprus Broadcasting Company. Video clip can be accessed from the right hand sidebar.

Video For Diving Enthusiasts Visiting Cyprus

The Zenobia wreck site has been long established as one of the top ten dive sites in the world. The warm, crystal clear waters around the island of Cyprus make it a divers paradise and an experience not to be missed. Located about a mile off the coast of Larnaca and at a depth of under 50 meters you will see why it it makes the ‘top 10′ list if you are lucky enough to dive the site.

[See post to watch Flash video]

The Famous Fig Tree Bay Area in Protaras

No prizes for guessing how this small area of Cyprus got it’s name. Fantastic beaches and shallow waters make this an ideal place to bring the children when you are in the Protaras area of Cyprus. The main access to the beach area at Fig Tree Bay is between the two beach side restaurants towards the Ayia Napa end of the Protaras strip. There are dozens of restaurants, bars and cafes all within a few minutes walk of the beach in high season and every kind of water sport imaginable.


[See post to watch Flash video]

More Cyprus videos and news articles to follow …………………..

Holiday Lettings In Cyprus – Cyprus Apartment Rental And Resale Properties at the Armonia Resort.

23 found. Viewing page 1 of 3. Sort By: Price

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• Larnaca Levadia Modern 2 Bedroom Rental Apartment
• Modern 2 bedroom apartment with 2 bathrooms and covered parking now available for long term rental.
• Call +357 9983 6563 or +44 (0)7822 185982
• Livadhia, Cyprus
• €375

• Oroklini Apartment For Sale or For Rent in Cyprus
• 
  Oroklini apartment for sale or for rent and perfectly located for easy access to the Cyprus motorway network. Ideally situated close to Larnaca, this two bedroom apartment is available for sale furnished or unfurnished from just €109,950.
• Call +357 9983 6563 or +44 (0)7822 185982
• Oroklini, Cyprus
• €109,950

• Eva Court Apartment Rentals
• 
  Eva Court Apartments are located just off the 'strip' at Kapparis near Paralimni on the popular East coast of Cyprus. Just a short drive from Ayia Napa and Protaras and a few minutes walk to the beach.
• Call +357 9983 6563 or +44 (0)7822 185982
• €450

• Modern 2 Bedroom Apartment For Sale or For Rent
• 
  A modern two bedroom apartment on the East Coast of Cyprus near the popular holiday resorts of Protaras and Ayia Napa.
• Call +357 9983 6563 or +44 (0)7822 185982
• €126,995

• 5 Bedroom Villa Vrysoulles Eastern Cyprus
• Modern 5 bedroom villa with large pool and a good sized plot in the popular location of Vrysoulles.
• Call +357 9983 6563 or +44 (0)7822 185982
• Vrysoules, Cyprus
• €309,000

• Cape Greko Luxury Villa For Sale
• Dream beach front villa for sale in Cape Greko Eastern Cyprus. Luxury villa now available with panoramic views of this breath taking location.
• Call +357 9983 6563 or +44 (0)7822 185982
• E307, Cyprus
• €1,250,000

• 2 Bedroom Apartment For Sale at Great Kings Kapparis Cyprus
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  Large two bedroom apartment for sale on the Great Kings complex Kapparis within a short drive of Paralimni, Penera, Protaras and Ayia Napa. This apartment is also available for rent at competitive rates.
• Call +357 9983 6563 or +44 (0)7822 185982
• Leoforos Kappari, Paralimni, Cyprus
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• 3 Bedroom Villa For Sale In Sotira

• PRICE NOW REDUCED TO €495,000

  
  A unique 3 Bedroom Villa for Sale in Sotira Village Eastern Cyprus. One off design and built to a very high specification throughout. Located on the edge of Sotira village on a 1400 square meter plot. The plot is big enough to add another villa if the buyer so wishes.
• Call +357 9983 6563 or +44 (0)7822 185982
• Sotira, Cyprus
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• 4 Bedroom Villa With Pool For Sale In Agia Thekla Cyprus
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  4 bedroom villa for sale in Agia Thekla Eastern Cyprus. Very large pool, roof terrace and built on a substantial 1400 square meter plot.
• Call +357 9983 6563 or +44 (0)7822 185982
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• Modern Penthouse Apartment In Agia Napa
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  This modern penthouse apartment is situated within walking distance of the famous Nissi beach in Agia Napa, Eastern Cyprus. The apartment benefits from a very large, 28 square meter, balcony with sea views, covered parking and a communal pool.
• Call +357 9983 6563 or +44 (0)7822 185982
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Armonia Resort Cyprus

Studio, one and two bedroom apartments, town houses, bungalows and villas with current holiday lettings availability:

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