The stunning island of Cyprus lies in the beautiful warm, calm
and clear waters of the Mediterranean Sea and enjoys up to 320
days of unadulterated sunshine every year.
This makes Cyprus inimitably popular with holiday makers and
second home hunters which in turn makes it the perfect real
estate investment location for international property investors.
In fact, for anyone contemplating diversifying their investment
portfolio and branching out into real estate in the near future,
Cyprus has to be one of the hottest destinations in terms of the
potential for profit it offers the investor.
With strong annual incomes achievable from letting property to
the holiday market year round and capital gains consistently
reaching double digits in Cyprus in the property market where
else should an investor be looking right now?!
Add to all these positive points the fact that anyone who
purchases a home in Cyprus for investment purposes could also
personally holiday in the home and soak up some European
sophistication, some Mediterranean cuisine and some Cyprus
sunshine and you have the perfect package of reasons to invest
in Cyprus immediately!
Since the Republic of Cyprus joined the European Union back in
2004 the rules relating to the foreign freehold ownership of
real estate on the island have come under scrutiny. Currently it
is only permissible for foreign buyers to own one property but
as soon as this law changes it is predicted that there will be a
buying frenzy on the island and that this increase in demand
will inflate property prices sharply. Those who get in first and
stake their claim now will be able to benefit from these
predicted property price increases in the future.
Law in Cyprus is based on English common law, and as a result
not only is the entire property buying process simple and
straightforward but all owners of real estate in Cyprus
regardless of their country of citizenship have the same
property ownership rights as local Cypriots. This means that
owning property in Cyprus is safe and the entire property title
deed registration process is secure.
Building standards in Cyprus meet European standards and the
abundance of available resale and off-plan property in Cyprus is
good which means an investor not only has choice but he has
choice of quality properties for sale.
Investors interested in real estate in Cyprus should note that
the most popular properties that holiday makers are seeking to
rent out are apartments near to golf courses and villas with
private pools; and second home hunters are generally in search
of either apartments or houses close to the seaside and the main
tourist towns of Cyprus such as Paphos and Larnaca.
About the author:
Rhiannon Williamson writes about real estate investment in
emerging markets worldwide. To read more of her guides about
property investment in Cyprus click here.
