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Be aware that its highly likely that more strict controls ahead for AirBnB rentals ......

Thank you Toon for sharing! Very interesting. Massive competition then, but also growing demand.

I give it for granted we will pay taxes on the rental income, after we deduct the related expenses (I assume it is allowed, will check). In terms of a flat AirBnb tax, it depends, Like if they charge 1k to someone who starts and has no idea if the apartment will bring 1k or 10k, I do not find it fair. It should be % based, like all income.

What scares me "From experience of our complex that is 50% owned by Brits many of them are renting out their apartments because they cannot sell their apartments due to them being unable to sell their properties due to having no deeds". I thought lack of deeds was an issue in the North, where we will not buy for sure. Is it still an issue even in the South?

THANKS!

Hi - yes titles deeds is still an issue here in the republic ..... as is the scenario of there being many complexes whose property owners got caught in the swiss franc mortgage debacle and its  crucifying them,.... they will never ever own their property... 

Title deeds is another issue there are a few agents here who will only market and sell properties with title deeds. Beware of ads quoting "title deeds available" as they they have to be applied for  and apodi for  - - "with title deeds" is a better option

In the case of complexes and buying a property on one  = its not something I would ever do - I only rent as that suits us and we have a good deal.... buying a property on a complex can be a disaster depending on your outlook and what you expect  =  even more so now with the renting out of them so you never know who will be your neighbours and what they will do when their guests turn up for holidays with them... we ve moved twice because of that very scenario..

Thanks for the insights! Ok so probably more repossessions coming from people who took out a Swiss franc mortgage.

About renting in a complex, I see your point. Who rents from us may annoy the neighbors, and when we are there ourselves we may be annoyed by the guests of others. Town Houses seem a bit expensive, but we'll see. Thanks for what you shared.

yes, repossessions have and still are taking place - many of the banks have now sold their NPLs (as a direct result of EU legislation demanding they get them off their books and clean up their act) to debt collections outfits..(75% discounts)..... then you have the issue of identifying who actually owns the empty/unkempt/derelict homes.(DPA kicks in)  in order to proceed to a point of sale...  I know as have been trying for some weeks now to identify some close to me.

Even townhouses on complexes suffer the same issues... I dont think townhouses are expensive.... ive seen really good quality townhouses go for €85-95k recently, and semi villas for €125...

Thank you, I owe you a lunch when we come there again to explore Paphos. Are those prices in the Tombs of the Kings area? It seemed a good area when we were there last year. Bus connections, supermarkets, still near the waterfront walk.

We will not buy a car there, so that area seems perfect. It will be a journey from Larnaca airport to Tombs of the Kings (we have a pet and Paphos airport budget airlines seem not to accept pets), last year we tried the affordable shuttle service and it requires one transfer, but to do that once per year round-trip is acceptable.

Cheers!

BTW, we were considering Malta (noticed you lived there as well) but Cyprus seems a better option, tax-wise, considering I have to work abroad for a big part of the year.

No those prices were for the Peyia area

Malta is ok for a 2-3 week holiday but despite enjoying living there for 6 years we wouldnt do it again -  its truly better all round here in Cyprus.. dont  get me wrong we had a good time in Malta and still connect with our many friends there,, but i couldnt go back to it ... its got far too expensive - so expensive even local maltese cant afford to live there

Like most things it depends on what you want and expect from the living experience here in Cyprus.... managing your wants and expectations is paramount to success here