Opportunities for Property Investment in Cyprus
Since the country joined the European Union (EU) in 2004, the fortunes of Cyprus
property investments are on an upswing. Not only with holiday-seekers, but second
home buyers now are also flocking to the country mainly due to the excellent climate
and large English-speaking population.
Although Cypriot Greek is the preferred language here, the majority of people understand
and speak English with considerable ease and as a bonus they also drive on the same
side of the road as the UK.
Cyprus has no shortage of investment property
opportunities all across the island. However, the hottest regions from the property
investment point of view include property and areas like:
and many more regions including
Kyrenia, and Famagusta.
These places have witnessed maximum activity in terms of real estate transactions
over the past few years. Investors have shown tremendous faith in these areas due
to their potential to offer high returns.
Moreover, these are either tourist spots or in proximity to the hotspots of the
country. Therefore, you can easily expect a consistent rental income from holiday
properties in these towns.
The prices of property in Cyprus are
on a lower pedestal compared to the UK real estate prices.
Apartments in Larnaca are available from £100K, and a separate dwelling
(residential home) can be yours for £250K. The
Limassol region is comparatively cheaper than
Paphos and Northern
Cyprus has ideal investment properties at well below the £50K
The range of investment property types available in Cyprus include villas, apartments,
residential and holiday property and a growing commercial sector. All of these investment
properties are in great demand from the domestic as well as international investors.
However, the membership of the EU brings in a large number of European investors
into the countries real estate portfolio. Therefore, theres an added incentive
for British investors, having an opportunity to share the neighbourhood with fellow
countrymen and other European investors!