Cyprus is a wonderful place that attracts huge interest on the real estate market. More and more Europeans, as well as 3rd country nationals, are looking to acquire a villa or an apartment here, because of the climate, favourable market conditions, the availability to claim permanent residency or the citizenship, or simply because they like the country.
It is easy to see why the interest of people looking to buy a property in Cyprus is so high. Packing all of your belongings and initiating a house removal is understandable when you look at the real estate market and what life on Cyprus is all about. Such high demand is due to multiple reasons, but you only need a few good ones to make a move. Here are some benefits of investing in real estate in Cyprus:
Great holiday resort
Cyprus is a famous tourist destination and for a good reason: it’s a great place to visit and spend your vacation in. Part of the reason why that is so is because of the great beaches, superb climate, the hospitality of the locals, as well as the affordable cost to be there.
You will hardly hear a different forecast than one that describes sunny weather. What is more, there is hardly any rain in Cyprus, which means constant sun and warm weather for most of the year. It is a valid reason for many people to buy a property and initiate relocation to Cyprus, especially if they are fed up with snow and cold weather.
Low crime rate
Living in Cyprus is relaxed, as the crime rate is considerably lower than that of many other European countries. That is a great benefit, as it encourages peaceful family life. The reason is simple: both the culture of the inhabitants, as well as the small size of the country -where secrets cannot be kept silent-, leave almost no chance for crime to flourish.
Terrorism? No chance
In a troubled world where every day we watch and listen about terrorist attacks and people fearing for their safety, Cyprus has no worry about such an issue. Incidents as the ones occurred in France, Belgium, Turkey, Egypt and other countries, have no place in a friendly and harmless society such the one of Cyprus.
Several property options
If you are looking to tap into the property market, you can do so. While it is true that you will have to look deeper for a traditional Cypriot property, you can still find a brand new one, no matter what is your budget and where you need it to be located.
Residency & Citizenship schemes
If in your case you are a 3rd country national, you may get benefited by the recent programs launched by the government of Cyprus, giving the chance to non-Europeans to liver permanently on the island as long as they purchase a property of at least €300,000 + VAT, or get the citizenship (and a European passport) as long as they invest €2,5 million. Both schemes are considered among the best in the world.
Don’t use it? Rent it!
You can buy a property and let it on the rental market - you can invest in Cyprus real estate and expect guaranteed returns if you let renters use it. That is especially valid for property in some of the more popular resorts, such as Limassol for example. A common strategy you can use is to buy a home in Cyprus, rent it out for a number of years till you are ready to deal with cross-country relocation and then move to the sunny island permanently.
If you are prepared to invest in real estate in Cyprus, you are definitely on the right track. You will find favourable conditions and great value for your money.