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Cyprus Property
from: by Debbie CooperEven before the entry of Cyprus into the EU, this holiday islands amazing geographical location, halfway between Britain and Dubai, had already helped to grow a thriving property market that had already started attracting the interest of leading international property investors.
Enormous amounts of international money has been invested into Cyprus, and with thousands of properties now under construction, Cyprus property prices have risen up to 50% in value over the past one and a half years.
When you consider factors like the wonderful, mild island climate and the fascinating history, you will begin to understand why Cyprus property has been irresistible to many investors. Other things that this market has going for it include the low crime rate in a world where almost all other major destinations are experiencing an upsurge. The active property market is expected to explode in years to come, especially from Britons who now have an automatic right to work on the island and with social security and other benefits being transferable between Cyprus and the UK.
The return on investment has also been extremely good and analysts are predicting that this situation is bound to persist for sometime to come. Many experts are telling their clients to expect a return of between 15 per cent and 20 per cent annually for the next 5 years. Needless to say, this is a very attractive rate of return, especially when compared to recent general performances of stocks and other investments.
Apartments, beach properties and villas are all attractive potential property investments, and with town or beach apartments starting at £21,500, anyone looking for a property abroad should look to Cyprus for an excellent return. Because of the huge and rising demand, coupled with the growing popularity of Cyprus as a tourist destination, one does not need to be an expert to see that property in Cyprus is set to continue rising for sometime to come.
Buying to let is a good option in Cyprus and it is easy to make a purchase self-funding within a very short time, through rental payments. The fact that Cyprus is an increasingly popular tourist destination means that demand will remain high, pushing rentals and the value of your property higher and higher all the time.
When buying Cyprus property, you need to have around 30% of the purchase price available within 4-6 weeks of putting down a reservation deposit (CY£2,000/ £2,333). On an off plan property that will not be ready immediately, you would be able to make arrangements to make stage payments throughout the build. Mortgages of up to 70% are available in either CY £ or Euros, but the euro option is usually the least expensive.
It is therefore definitely worth spending a couple of days on a viewing trip to Cyprus for anybody looking for a Mediterranean holiday home that will provide excellent rental value and returns on investment.
If you are looking to buy a Cyprus property, we are able to say that we can look after the requirements of even the most demanding of buyers, as we have a wide range of Cyprus property for sale - from apartments starting at 31.690 Euros to the most exclusive villas.
http://cyprus.spanish-villas-spain.com
I have worked in the rentals & sales business for the past 6 years and now run Spanish Villas Spain, part of Citrus Iberia (CB) a British Estate Agents offering Property Management, holiday & long term rentals and property for sale.
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