Investors looking for a solid investment would do well to look into the strong real estate market of Cyprus, particularly in is second largest city of Limassol. Cyprus – and Limassol in particular – is a hotspot for tourism, with beautiful beaches and year-round sunshine, and many people visit the island with the intention to rent a holiday home rather than spend money on a hotel. With this in mind, being able to rent out a home for a month or longer to tourists is a great way to get income.
Here are some of our top reasons to invest in real estate in Cyprus:
1. Variety of real estate on offer
The island offers a variety of properties, from sea-front houses to luxurious penthouses with breathtaking sea or mountain views, urban studio apartments to detached homes in the suburbs. All of these make up attractive investment opportunities for anyone seeking to purchase property to rent out.
2. A constantly stable market
The Cyprus real estate market has shown virtually constant stability over the years, as has the island’s entire economy overall. Economic crises are rare, and Cyprus has shown resilience and the ability to bounce back from any setback quickly and successfully. The Cyprus property market has actually been popular for decades, considered as a prime retirement location for many Britons over the years, which made the real estate market highly desirable. It has since experienced massive growth, with new projects being built annually, and the arrival of new investors from all corners of the globe.
3. Increased yields on apartments
There has been growing interest shown by investors from countries such as the UK, Russia and Israel, and this is largely due to the results Cyprus real estate offers in terms of price, yield, and taxation. Real estate prices are among the most attractive in Europe, the taxation system is a favorable one – with low capital gains tax and company tax – and the rate of yield can be up to 9 percent.
4. A strong tourism industry
Though Cyprus is a small island in terms of geographic space and population, it still welcomes approximately 2.5 million tourists annually, many of whom seek out holiday rentals rather than homes. A large proportion of the country’s GDP is derived from tourism, and this has led to the creation of even
more largescale development projects, such as new luxury hotels, casino resorts, and modern marinas across all the island’s seaside towns.
Are you looking for the right property to invest in? 2BUY2LET has a vast portfolio of homes, apartments, and villas that are sure to bring you excellent ROI. Contact us today to find the best opportunity for you.
