Located in the Eastern Mediterranean, Cyprus is rapidly becoming one of the most popular destinations for real estate investment.
Whether you’re looking for a rental property, a long-term investment, or a vacation home, here are 5 reasons why Cyprus is an ideal place to invest in real estate.
#1 Growing property market
The real estate sector in Cyprus constitutes one of the fastest-growing economic sectors of the country.
Driven by the increasing popularity of the island as a tourist destination, the stable growth of the local economy, and an influx of international investors, the property market has been growing steadily.
That said, the Cypriot government has also taken steps to encourage foreign investment by offering a range of tax incentives and investment programs such as the Cyprus Permanent Residence Program.
#2 High return on investment
The high number of tourists arriving in the country, the growth of the local economy, and the increasing number of expats moving to Cyprus have caused the demand for rental properties to flourish.
That said, investing in real estate in Cyprus can offer a steady stream of passive income and a high return on investment over the long term. Apartments in the city centre, luxury villas and townhouses, and holiday homes are your best options.
#3 Stable economy
When deciding where to invest, one of the most important factors that you need to consider is the economy and the political situation.
Because of the country’s well-developed economy, strong banking sector, and high standard of living, Cyprus is considered an ideal investment location.
Moreover, Cyprus has been a member of the European Union since 2004, providing investors with fast and easy access to Europe.
#4 Affordable prices and low cost of living
Another advantage of Cyprus as a real estate investment location comes down to the cost of living and real estate prices.
Compared to other European markets, Cyprus offers affordable real estate properties for those looking to invest in a holiday home or a rental property.
Moreover, the cost of living in Cyprus is relatively lower compared to the U.K. or other markets in the E.U. — putting the country higher up the rank in the eyes of foreign investors.
#5 Business opportunities
Strategically located at the crossroads of Europe, Asia, and Africa, Cyprus has become an international business hub.
Its location, combined with its well-established infrastructure and robust regulatory system, makes Cyprus an attractive destination for international investors around the world.
If you’ve decided to invest in Cyprus, get in touch. Our property consultants are here to guide you through the entire buying process and help you find the ideal property for your needs.