The beautiful island of Cyprus sits in the beautiful warm, calm and clear waters of the Mediterranean Sea and enjoys up to 320 days of pure sunshine each year.
This makes Cyprus inimitably popular with holidaymakers and second home hunters, making it the ideal property investment location for international property investors.
In fact, for anyone planning to diversify their investment portfolio and get into real estate in the near future, Cyprus has to be one of the hottest destinations in terms of the profit potential it offers to the world. investor.
With strong annual incomes that can be had from renting property in the holiday market all year round and capital gains consistently hitting double digits in the Cyprus property market, where should an investor be looking right now? !
Add to all these positives the fact that anyone who buys a house in Cyprus for investment purposes could also holiday personally in the house and soak up European sophistication, Mediterranean cuisine and the Cypriot sun and you have the perfect set of reasons to invest in Cyprus now!
Since the Republic of Cyprus joined the European Union in 2004, the rules for foreign full ownership of real estate on the island have come under intense scrutiny. Currently, foreign buyers are only allowed to own one property, but as soon as this law changes, it is expected that there will be a buying frenzy on the island and this increase in demand will swell real estate prices sharply. Those who get in first and claim their right now will be able to benefit from these projected house price increases in the future.
The law in Cyprus is based on English common law and therefore not only is the whole process of buying a property simple and straightforward, but all property owners in Cyprus, regardless of their country of citizenship, have the same property rights as local Cypriots. This means that owning a property in Cyprus is safe and the whole title registration process is secure.
Building standards in Cyprus meet European standards and the abundance of property available for resale and off-plan in Cyprus is good, meaning that an investor not only has choice but also quality properties for sale.
Investors interested in property in Cyprus should note that the most popular properties holidaymakers are looking to rent are apartments near golf courses and villas with private pools; and second home hunters are usually looking for apartments or houses close to the seaside and the main tourist towns of Cyprus such as Paphos and Larnaca.