Cyprus Property News | Great Property Investments in Cyprus

Great Property Investment | Cyprus

Great Property Investments in Cyprus

Cyprus has always been a preferred place to invest for the Brits. This former British colony still has remnants of the English style of living, which allure retirees and holidaymakers from all over Europe, especially from UK.

Because of its excellent climate, pristine beaches, and a number of other attractive destinations, tourism forms the backbone of Cypriot economy. With tourists buzzing all the year around in this tiny island nation, there is a huge demand for all kinds of property – residential, rental, and vacation. This makes for an ideal situation for small and big-time investors to buy and sell diverse properties in Cyprus.

High Yielding Properties in Cyprus

The membership of European Union (EU) in 2004 has catapulted Cyprus into the league of most favoured nations among European investors. The real estate market has since been yielding handsome returns for all kinds of property investors. Since a beautiful place, like Cyprus, will always attract investors; the fact that most people can understand and speak English just adds to the charm of the country.

You can find the best of properties spread all across the country, but the places that attract the most number of tourists obviously rank high on the investors’ priority list. Thus, places like Paphos, Larnaca, Limassol, Protaras, Peyia, Paralimni, and Kyrenia command maximum price for the properties, and as a corollary, give maximum returns on the holdings.

The property in and around these tourist destinations has manifold advantages than the property in any other part of the country. Firstly, the tourists always prefer to rent out the vacation properties around the place if they are staying for more than a week; and it’s a common knowledge that rental income from such vacation properties is always on a higher side. Secondly, the properties around these places can be used as a second home for your family’s vacations once or twice a year, thus, saving you from the expenditure on boarding whenever you visit the place. Thirdly, even if you go for an outright sale of this property, you can be assured of reaping huge returns in considerably short period of time. You can also rent out the property for long-terms to ensure a consistent, but relatively lower, income.

Comparatively lower property prices in Cyprus are also an added turn-on for the British real estate aspirants. For instance, a decent apartment in Larnaca can be yours for just £100K, while separate residential dwellings will cost more. However, the cheapest place to invest is Northern Cyprus, where an expenditure of mere £50K can give you bigger and better properties.

Another attraction in Cyprus that is attracting hordes of property investors from around the world is its scenic beauty, apart from a long coastline. The mountainous region in the country is known for its wineries, and the famous Cypriot Wine is one of the many products to come out of this region and take the world by storm. The country also has some exotic remnants from the Greek and Roman civilization spread all across. And if you are looking for a place where ultra-modern facilities are easily available, there is no better place than the capital city of Nocosia.

The country has one of the lowest average salaries in Europe. This has contributed immensely to the development of the service sector in the country. Thus, the economy of Cyprus is sound and buzzing with tourism and service sectors contributing their might to bring about developmental changes in the country.

Properties of all kinds are available in Cyprus. Undoubtedly, villas, holiday homes, and vacation rental properties are among the most sought after. The residential property in the major cities also commands heavy demand from domestic and international investors. The European investors, particulars from the UK, are investing big time in the country due to familiar living conditions in Cyprus. Moreover, with EU membership, Cyprus has truly become a diverse real estate portfolio country with increasingly more and more international investors teeming in.

The Northern coast of Cyprus is still under the control of Turkey, and is a disputed territory. However, this is a largely peaceful area and not a potential flashpoint between the two countries. So, no need to get over-cautious on this count, if you are planning to invest in Cyprus.

Financial aspect of a real estate transaction can be a make-or-break thing, but Cypriot banks and financial institutions are on an overdrive in their efforts to help small investors to secure easy finance.

The country has, generally, common law rules governing the real estate transactions. So, there is not much difference in the formalities required to finalize a real estate transaction in Cyprus.

Property in Cyprus >

< Go back to Cyprus Property News Archive