Cyprus has always been a popular destination for holidaymakers seeking to escape the dreary English weather and spend some time away from home in the sun, relaxing on the beach and generally getting away from it all. But recently, property in Cyprus has become an increasingly popular investment both for those who want a home away from home to escape to at any time of year, and those looking for a reliable way to add to their income by renting out property to holidaymakers.
As if the weather didn’t offer enough appeal, Cyprus boasts excellent nightlife and the locals are known for being incredibly welcoming which makes both going on holiday and living there an appealing prospect for many British people who are tired of the unpredictable weather and high speed lifestyle back home. Friendly and welcoming, the people of Cyprus are used to living life in a far more laid back and relaxed manner and this can really take the weight off the shoulders of those who are usually busy office workers or on their feet at work all day.
Leisure facilities are hugely popular in Cyprus thanks to the wonderful climate, and lovers of golf and water sports will be spoiled for choice when visiting the country – there are countless golf courses and the beaches are well suited for swimming as well as more intense aquatic activities. For those who just want to forget their worries and relax completely, there are spas to pamper clients or perhaps simply relaxing on the sandy beaches is enough to clear the mind of those used to tight schedules and stressful situations.
Another advantage of owning a Cyprus property is that one doesn’t really feel alienated in the country – English is widely spoken, the facilities are generally up to par with those in England, drinking water is clean and fresh. Education needn’t be a problem as schools and universities cater to the young, and there are countless shops and bars where a British holidaymaker will feel right at home.
There are countless advantages to owning a Cyprus property – no more overpriced hotel rooms, a private space to call your own and the luxury of having a home away from home. Moving permanently is also always an option and for those looking to retire could be an ideal choice. Even in the current economic climate holidaymakers will always look out for accommodation and renting your villa out while it is not in use could be a great way to subsidise your income as well. If there is anywhere it is wise to invest in the property market right now, it’s definitely abroad.
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.
A recent study has revealed that six out of the top 10 most popular property investment destinations are located within Europe. It seems as though the likes of Spain, France, Cyprus and Italy are still firm favourites amongst investors when it comes to deciding where to spend their hard earned money. Cyprus property is a particularly popular choice.
The study also noticed that there has been an increase in the number of people under 40 who are getting into property investment. Traditionally the market has been dominated by retirees who want a holiday home or to move abroad after giving up work. Although they will always make up a large segment of the market, it is now no longer unusual for someone under the age of 40 to own property abroad.
The reason for the increase in the number of younger investors is because people are wising up to the benefits of property investment as they realise this is a great way of securing their future. The top five destinations are all well – known cities where people are pretty much guaranteed a return on their investment.
Buying property in up and coming holiday hot spots is a sure fire way to make a large amount of profit when it comes to property investment. Chances are that house prices are currently still reasonably priced in the area but once more and more people buy homes and holiday there, house prices are going to shoot up. This means that those who were lucky enough to get in there before the prices increased are going to make a significant amount of money out of their investment.
It is not hard to see why Europe is such a popular destination for those looking into property investment. The most popular choices such as Cyprus, Italy and Spain all enjoy warm climates throughout the year, are significantly cheaper than the UK and offer plenty to do in the form of entertainment. This is further fuelled by the fact that flights within Europe seem to be getting cheaper and cheaper as more budget airlines fight to compete with each other. This means that anyone with property abroad doesn’t have to spend an absolute fortune in air travel going back and forth.
Property investment can also make a great second income for those who don’t choose to live in the apartment, house or villa. Renting the property out is the perfect way of getting your foot on the property ladder in a foreign country. The money made from doing this may even pay off the costs of the entire property which means when it comes to selling it on the money you get for it will be entirely profit.