Property Marketability In Paphos - Cyprus
Property Marketability In Paphos - Cyprus
Properties in Paphos District, and what is affecting their Marketability.
The area where the property is located plays an essential role for the selling and rental potential of a house, villa, apartment, plot or a field.
The first aspect that affects immediately the marketability of a property is the services provided within a close distance. Talking for residential properties, it is important to have in a close distance the necessary amenities such as a Supermarket - Kiosk, Bakery, Food Supply, Petrol Station and a Pharmacy. As well, for families with kids will be ideal to live near the schools.
Secondly, a potential property buyer/tenant will pay attention to the neighboring properties and who is living in. For some people it’s very important to ensure that they will not have noisy or untidy neighbors where will frustrate their daily routine. By providing information related to the neighboring properties and their residents will help the potential buyer/tenant to take a decision.
Furthermore, another aspect that affects the property marketability is the property condition. Sometimes we visit properties that are in need of maintenance because are not occupied for a certain period. In such events the potential buyer/tenant will feel conscious about the working order of the property installations (Electrics/Plumbing/Central Heating System/AC’s, Pool Pump etc.), as well the additional cost needed for the maintenance of the property to bring it to the right condition (painting, roof insulation, wooden surfaces vanish, garden landscaping, etc.)
Moreover, the updated registration of the property to the District Land Registry it’s deemed essential for the marketability of a property. The most common question by a potential buyer before inquired a property viewing, is if the property supports updated title deeds including all the property areas/works. There are cases with properties without updated title deeds (Not registered swimming pool, not registered room extension, not registered covered parking areas, etc.) where the potential buyers do not feel confident to proceed to their purchase.
Another good point that considered essential is to disclose the property energy efficiency related to the energy consumption. In Cyprus it’s essential for a property to retain low electricity consumption by using Inverter Air Conditionings and efficient heating system. Fortunately, Cyprus it’s a sunny country and is giving the opportunity of the Photovoltaic System installation where increase dramatically the property efficiency and keep the running expenses low. Additionally, the installation of thermal type windows and wall thermal insulation is highly recommended for the increase of the property energy efficiency all year long.
Finally, the property marketability will be highly affected by the asking price. We strictly believe that the promotion – exposure of a property at the wrong price (High Price) will bring only negative results and only negative feedbacks from potential buyers/tenants. Therefore we suggest to instruct DemPro real Estate Team to provide you a professional market value based on long experience and professionalism.
Dempro Real Estate in Paphos – Cyprus
Licensed and Registered Real Estate Agents - License №: 414/E / Registration №:847
Member of the Technical Chamber of Cyprus - Property Valuer Registration №: A172833