Overcoming Title Deed Problems In Case Of Nicosia Property For Sale

One of the problems faced by the foreign investors in Nicosia property for sale is the title deeds for the properties in question. This is a significant problem and it is necessary for the buyers and sellers to surmount this problem effectively. Good news for all is that since the year 2013 the process of title deed clearance have been expedited by the administration in Nicosia and Cyprus and the problem is not as acute as it was in the past.

Significance of Title Deeds

Title deeds have significant importance in case of all properties including the apartment for sale Nicosia. Delay in the process of deed clearance and issuance results in dampening the competitive spirit in the market. At the same time it cannot be overlooked that the real estate market in Cyprus is largely dependent on the foreign investments. The dependence is even more prominent in case of distressed assets in the real estate market in Nicosia and Cyprus.

Dwindling Foreign Investment

Foreign investments in the real estate market in Cyprus and Nicosia have been dwindling over the past few years. That is why the administration there is trying to get back the foreign investments in the real estate market there. In addition to the steps taken by the administration, initiatives taken by international organizations like the UN, US Agency as well as the European Union is providing the necessary impetus to the foreign investments in the locality. In result availability as well as demand for the Luxury House For Sale Nicosia has been increasing.

Trying for Reunion

International agencies are trying for reunification of the divided island and this has resulted in growth of a host of art galleries, cultural centers, as well as boutique stores in the city of Nicosia and island of Cyprus. This is opening up new opportunities for both buyers and sellers and developers are benefiting in the process as well. Many people are coming up in search of properties like apartment for sale Nicosia and in result the real estate market is looking up. This is not conjecture and the statement is supported with real statistics.

Reducing Prices of Houses

Among the property for sale in Nicosia the prices of houses have been declining due to the economic crisis that have been plaguing the area. This decline has not been minor and has been somewhere in the range of 30% since 2009. This was revealed from the RICS property price indexes available. But after the new initiatives taken in 2013 the property and house prices in the main areas of the town like Ledra and Onasagorou streets have seen increase of approximately 25% over the years. However the immediate need is overcoming the problems of title deeds.

With different steps taken by the administration in Cyprus supported by international organizations the problems of title deeds may soon be overcome and it will give desired impetus to the real estate market in Nicosia and Cyprus.

I am a publisher Nicosia Property For Sale. Mpa Property is a Real Estate agency dedicated to help its customers to find their dream home for Rent or for Sale in Nicosia, Cyprus.