Chances are that everyone has thought about their retirement plans at one point or another. Whether you are panicking about how you will support yourself or counting down the days, it’s highly likely you have thought about where your funds are going to come from.
Property, particularly in the form of a holiday home has become one of the biggest ways for people to save for their retirement with around seven million homeowners using the sale of their homes to help themselves.
Over the last 10 years the Western world has enjoyed the biggest property boom in its history. Over the last decade house prices have boomed in almost every developed market with the exception of Germany and Japan. This has resulted in thousands of investors buying a holiday home so that they can make a tidy profit when it comes to selling on.
A great place to make this investment is in Cyprus. There are many reasons for this but the main one is probably the fact that there is so much to do their which means that there is something to suit everyone. Cyprus villas normally have plenty to offer in the form of entertainment. For example, there is usually a swimming pool, gym, tennis courts, cafes and much more. This means that you don’t even have to leave the complex if you don’t want to or if you just fancy a quiet day.
British residents buying property abroad is not unusual and the value of property in developed economies has increased by $30 trillion over the last five years. This trend started about 20 years ago and those who now want to sell up in time for their retirement are starting to reap the benefits.
As Cyprus villas have become so popular over recent years, there are now plenty available to choose from. This means that you don’t have to settle for something that you are not happy with because you are bound to find somewhere that you really like. There are villas near the beaches, in towns, in busy resorts, in quiet resorts and in tourist areas so there is something to suit everyone’s tastes.
Although prices have gone up, investing in Cyprus villas is still likely to be a successful way of investing in your future. It is very rare that house prices go down and if anything they are more likely to increase. This means that there is a strong possibility that by the time you retire prices will have gone up enough to help fund your retirement. Bearing this in mind it is hardly surprising that many people are buying Cyprus villas instead of a second property in the UK.
Image belongs to: Carla Saliba. Taken from: http://www.flickr.com