Prospects for the development of the Cyprus property market

For some, dreams of foreign real estate fit into the idea of a "summer residence in warm lands", for others it is an opportunity to regularly travel to the sea.

For some, dreams of foreign real estate fit into the idea of a "summer residence in warm lands", for others it is an opportunity to regularly go to the sea, and practically at any time of the year for new experiences, for others, buying a foreign property is a business, which means it is necessary to competently weigh the pros and cons before proceeding with the purchase.

Cyprus property is no exception in this case. The market of this small state by European standards, located in the center of the Mediterranean Sea, has long been one of the most attractive. Even now, during the crisis years, analysts note the stability and sustainability of its development. Data for 2016 shows an unprecedented increase in property sales transactions in Cyprus - an increase of more than 120% compared to 2015. It is important to note that 70% of home purchases are made by the citizens of Cyprus themselves, which should suggest a high standard of living in this country. Among those 30% of real estate transactions over the past year that were carried out by foreign investors, there are transactions that were concluded by our fellow citizens, of course, British citizens and traditionally representatives of the Scandinavian countries and Germany.

What is interesting about the housing market in Cyprus? First of all, its stability. The island real estate of any country always stands somewhat apart. Any island cannot boast, for example, of large land plots for building, which means that the supply on the real estate market is always somewhat limited, which in turn leads to a permanent increase in prices. And this is very beneficial for serious investors who want to buy today, but in 10 years to understand that their purchase has paid dividends.

Secondly, the Cyprus property market is the market of the resort country. There are excellent climatic conditions for year-round stay and recreation. Therefore, the inhabitants of the northern countries, including ours, always hope with hope on the opportunity to leave the dank latitudes to the warm sea.

Thirdly, of course, Cypriot real estate is a high quality standard. Modern apartments and apartments are the most demanded housing, which you can use yourself, or you can rent it profitably. Luxury villas and houses with swimming pools, modern security systems and stunning sea views. Who would refuse the opportunity to invest in such housing?

Therefore, the prospects for investments in the Cyprus property market are obvious.


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