Why you should take interest in property in Cyprus
Why buy property in Cyprus? Why has there been so much interest in property in Cyprus in recent times? These are some of the questions being asked by the few property investors who have yet to discover this hot market.
When you consider factors like the wonderful, mild island climate, low crime rate and the fascinating history, you will begin to understand why Cyprus has been irresistible to many property investors.
Apartments, beach properties and villas are all attractive potential property investments that many investors are looking at, and ultimately settling for, in Cyprus. Because of the huge and rising demand, coupled with the growing popularity of Cyprus as a tourist destination, one does not need to be an expert to see that property prices are set to continue rising for sometime to come.
Cyprus Property Investments
Many smart investors have turned to property investments in Cyprus in recent times - and with good reason, because most have ended up reaping numerous and lucrative benefits from this move.
Actually, property investment in Cyprus is more attractive than ever, more so after the admission in May 2004 of Cyprus to the European Union which has had the effect of causing an already active property market to explode in activity, especially from Britons who now have an automatic right to work on the island and social securityand other benefits are transferable between Cyprus and their home country.
Even before the entry of Cyprus into the EU, this holiday island's amazing geographical location, halfway between Britain and Dubai, had already helped to grow a thriving property market that had already started attracting the interest of leading international property investors.
The return on investment has also been extremely good and analysts are predicting that this situation is bound to persist for sometime to come. Many experts are telling their clients to expect a return of between 15 per cent and 20 per cent
annually for the next 5 years. Needless to say, this is a very attractive rate of return, especially when compared to recent general performances of stocks and other investments.
Interestingly buying to let is a good option in Cyprus and it is easy to make a purchase self-funding within a very short time, through rental payments. The fact that Cyprus is an increasingly popular tourist destination means that demand will remain high, pushing rentals and the value of your property higher and higher all the time.
Other things that this market has going for it include the low crime rate in a world where almost all other major destinations are experiencing an upsurge. This is one of the reasons why many investors have kept a holiday home on the island in addition to their other property investments. Others have even opted to settle permanently in Cyprus.
