Purchasing an investment property in Cyprus
It is often the case where bad news for one demographic, becomes good news for another, and this is especially relevant for real estate investment in Cyprus right now. A recent European central bank research report cited that the most sizeable decrease in homeownership was among younger households this year. This is especially true in Cyprus. Millennials and Generation Z find it difficult to realize the dream of owning their own home in Cyprus. The Chair of the Real Estate Agents Council recently noted that young people are afraid to risk such an investment at present and are opting to stay with their parents or forced to rent. This has of course resulted in a significant rise in rental prices across the Island.
The current rise in rental prices in Cyprus is partly due to the limited availability of suitable housing units.
The Central bank of Cyprus recently published the Residential Property Price Index Quarterly that showed despite the market experiencing difficulties between 2014 and 2020, the demand for real estate has grown over the past two years and continues to increase. At present, with Cyprus renovating the marina in Larnaca and building a large casino in Limassol, real estate prices will increase by 10% over the next two years as the world sees exponential growth in our Island nation. With various public and other infrastructural projects under way, Cyprus is becoming more attractive to foreign investors, especially for those investing in a Cypriot home. There is currently an influx of high-end professionals moving their operations to the island. These professionals, along with Cypriot Millennials and Generation Z, are desperate for well-priced properties to rent.
The time for the acquisition of a second home for investment purposes in Cyprus has never been better.
Adding financial stability to your portfolio.
Your tenant will maintain and care for your second home.
To sell at the right time in the future and maximize your profit.
At Island Blue, we already know that buying an investment property to rent in Cyprus can be a highly lucrative and rewarding venture. With over 19% of Cypriot households renting in Cyprus as opposed to owning their own home, it is a secure option. But with every investment, there are many aspects to keep in mind. Our highly experienced and professional team is always available for an informal discussion on owning your own home in Cyprus.
We offer a wide selection of stunning homes that are guaranteed to satisfy your future tenants requirements. We are always up to date with the latest information about the best properties and are mindful of the Cyprus regulations for tenants and property owners.
Contact us today and find out how you can take advantage of the prestigious opportunity of owning an investment property in Cyprus!