Demand for Cyprus property is constantly on the increase, thanks to the many advantages of purchasing a property in the country. Investors and those looking for holiday homes alike have become more and more interested in taking advantage of the lower prices and vastly superior climate that one can find in Cyprus. It bears many similarities to the UK when it comes to lifestyle and English is very widely spoken.
When looking for properties in Cyprus for purchase, consider what you want carefully – do you want only a small apartment to visit one a year for a couple of weeks , or do you want a family sized home to spend whole summers in or rent out to bigger groups? These properties can even be built to the customer’s request, creating a bespoke property in the sun at prices that one would pay for an inferior property back home in the UK – smaller, in a less favourable location or simply old and not looked after, the home you would get in the UK for a similar sum would be far less impressive. Many properties on the market are brand new or only a couple of years old and so the overall condition of these homes is very impressive, often saving you a small fortune in unforeseeable repair and maintenance fees, making investing in Cyprus property a viable option even for those who may not want to invest in a new and very expensive property on the volatile British real estate market.
Without a doubt the sun and sea is what attracts many holidaymakers so there are solid profits to be made by renting properties out, too – there is nothing unusual about purchasing a property simply to rent it out later and provide more income back home. The buyer may never use the property themselves or may rent for some months of the year while keeping the property empty for their own use at other times. A villa could pay for a good portion of its price while providing the buyer with a holiday home, too. For those looking for a larger family home, there are villas with large, private pools available on the market, an option those of us living in Britain often wouldn’t find worth investing in.
The advantages of owning Cyprus property are countless, and with much more agreeable weather and lower costs of living overall, some buyers are even considering moving there permanently.
Whether you are looking to completely relocate or simply invest in a holiday home, Cyprus is a great place to do either of these things. There are many different reasons for this including the fact that it is one of the most popular holiday destinations in the Mediterranean. This is unsurprising when you learn of the variety it has to offer from pumping clubs in Ayia Napa to traditional villages and medieval castles.
However, there are more than just the aesthetic benefits of living in a country like Cyprus because there are many financial advantages too. The island enjoys a higher standard of living than the UK yet this is still as a lower cost. This means that anyone looking into property investment in Cyprus is going to get a lot more for their money than they would get if they were to buy a second home in the UK.
Another reason why Cyprus is a popular destination for those looking into property investment is because there is so much to do there. Those who love adventure are bound to enjoy hiking or mountain biking in the Cyprus Mountains. Alternatively, there are water – sports, tennis, golf, surfing and all other activities you would expect from a popular tourist destination. With so much to do anywhere around the island this means that tourists are always going to want to go there on holiday so there will always be demand for property there. This means that any holiday home that you invest in is likely to make a substantial amount of profit when it comes to selling it on.
Cyprus is also located close to the UK and it is very easy to get there and back. With more and more competition between budget airlines you can find cheaper flights to Cyprus than you can pay for train tickets to some destinations within the UK. This means that it is very easy for yourself, friends, family or anyone renting out your property to go there. Again, this helps to add to the value of the property because people are more likely to go on holiday somewhere or buy a house somewhere if it’s cheap and easy to get there.
Another great thing about Cyprus property is the fact that it attracts such a large variety of people. You get the clubbers heading to the resorts which are designed for partying, to families and couples and friends who want a relaxing holiday. This means that again, there is likely to always be a demand for investment property in Cyprus.