A Low Risk Investment
Property in Cyprus provides low-risk investment for different types of investors. Some excellent Buy-to-Let property investment opportunities are currently available within the well established and rapidly increasing tourist industry.
Strong Rental - Buy to Let Market
Tourist figures in Cyprus are increasing year on year. Cyprus has always enjoyed a strong rental market. The long season favours rental income making Cyprus property lucrative for buy to let investment.
A growing number of property developers in Cyprus are now offering guaranteed rental programs on their new off plan developments.
Residential Tourism
Long term residential tourism is also an important factor for the future Cypriot real estate market and we are now seeing many foreign buyers investing in off plan developments that cater for those looking to relocate now with their families or in a few years time to enjoy there retirement years.
Capital Growth
Cyprus south has been achieving an average of 10-12% in recent years with some areas exceeding this. Southern Cyprus has seen annual capital growth of no less than 8% since 1974. A carefully chosen investment property in Cyprus can yield very healthy capital returns as well as high occupancy levels and high rental returns, especially in areas such as Larnaca, Paphos and Limassol where there are established tourist trends.
Buying Property in Cyprus
Buying property in Cyprus has come along way in recent years especially when compared to a decade or so again when there were currency restrictions in place, there were several political issues with Turkey and the viability for investors was not even on the map. Now thankfully, the restrictions have been lifted, tourism is up and Cyprus is enjoying a new lease of life as a desired destination for second homes buyers, the buy to let market and the more serious international investors.
Property Hot Spots in Cyprus
Off plan developments in Cyprus are currently being built on several areas of the islands with the main focus being on in Pafos, Paralimni, Protaras, Larnaca, Limassol and Nicosia areas of Cyprus.
Government Incentives Property Nicosia Old Town
The Cypriot government is reportedly offering financial incentives to those wishing to buy properties in Nicosia's 'old town', which are in need of extensive renovation. In addition, rental income generated from these properties is tax-free, while transfer fees are waived. A three bedroom apartment in the centre of the city will cost around €240,000.
Cyprus a "Buy to Let" Market
With the growing tourism industry in Cyprus and low costs direct flights from the UK and other European countries, Cyprus provides interesting buy to let investment opportunities
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