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Reasons Not to Invest in Property in Cyprus

Reasons Not to Invest in Property in Cyprus

We’re in a bad mood today thanks to tax bills and telecom providers so we thought we’d take it out on the Cypriot property market and give you some of our favourite reasons not to invest in property in (the Republic of South) Cyprus, because quite frankly there are quite a few compelling ones!

Yes, this article is about Southern Cyprus and not the Turkish Republic of Northern Cyprus.  So don’t get confused guys.  Right – reasons not to invest include the fact that tourism numbers are falling, property investors are scarce, the government’s left hand hasn’t a clue what the right hand is doing and policies and practices across the island are scaring would-be buyers, investors and visitors away.

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More Reasons to Buy Property in Cyprus

A recent report in leading British Sunday newspaper the Sunday Times entitled: “Revealed: the best places in the world for retirement,” put Cyprus firmly in the top slot for Britons seeking a more attractive destination in retirement.  So there are even more reasons to buy property in Cyprus now it seems – because after this report details why Cyprus is so appealing, a nation of British retirees will be packing their bags and moving to Cyprus in search of a new home to buy or rent!

The Cyprus investment property market has long been dominated by buyers searching for front line or well positioned property with amenities that will be appealing to the summer holiday set – but now there is a whole new market to directly and specifically target, and that’s the retirement one.

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Pretty Positive News for Property in Cyprus

The economic situation in Cyprus is positive, the adoption of the Euro was hassle free, interest in the property market in Cyprus remains strong and Easyjet are going ahead with their plans to start flight routes from the UK to Paphos in March - so all in all it’s pretty positive news for property in Cyprus especially if you already have investment real estate on the island.

Whether the situation will remain so strong throughout 2008 has yet to be seen as the real estate market in Cyprus is very strongly dependent on foreign investment, but for those with investment assets already in their portfolio, it’s expected that the rental rates will increase and interest particularly in holiday lets will remain intense throughout the year.

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Renovation Property in Cyprus, 48,000 Reasons to Invest

If you were looking for a new angle to enter the Cyprus property investment market from, how about taking on character properties and rural or village homes and renovating them for resale or even tourism or domestic rental returns?

Thanks to a new government initiative in the Republic of Cyprus there are now 48,000 reasons to invest in renovation property in Cyprus…

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Cyprus Property and the Euro Effect

There’s a lot of chatter in the media at the moment about whether or not the property market in Cyprus is going to further boom following the adoption of the Euro or decline in terms of investor activity because prices have appreciated so rapidly and so substantially that affordability is becoming an issue.

Cyprus property and the Euro effect is certainly on everyone’s lips among those involved in the real estate industry both on the island and internationally, and there seems to be no firm consensus of opinion about which way the market will go in 2008…

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Cyprus Investment Property Market News

There was a significant increase in the number of property transactions in Cyprus in the first six months of 2007 with the number up almost 30% compared to the same period last year – this resulted in deals concluded exceeding a billion Cyprus pounds.

As a result of this dramatic increase the Central Bank of Cyprus has decided to take direct action to curb the property price rise fire by placing restrictions on the mortgage loans now available to residents and non-residents.  This is our latest Cyprus investment property market news…

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Reasons to Invest in Property in Cyprus Before 2008

We’ve been accused of being recklessly bullish in our approach to the investment property market in Cyprus - but far be it from us ever to dictate where anyone is best advised to place their money, especially when it comes to investing in something as risky and illiquid as property!  As always we’re just highlighting facts, figures, market sentiment and expert opinion as and when we find it for you dear readers - and sometimes we put it into perspective according to the sentiment in this office as well.

In this article we’ll be highlighting reasons why market experts are pushing investors to commit to property and land investment transactions in Cyprus prior to 2008 for increased profit potential over the medium term.

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Yet More Reasons in Favour of Investment Property in Cyprus

We’re not yet satisfied we’ve managed to convince our readers of our renewed commitment to Cypriot real estate and so here are yet more reasons in favour of investment property in Cyprus!

Basically Cyprus is such a stable, tried and tested location in terms of property investing and tourism appeal that it deserves closer inspection - and so in this article we’ll detail the outstanding pros and benefits of formulating an investment strategy that encompasses the potential in Cyprus that we did not touch upon in our previous entry ‘10 Reasons to Come Back to Investment Property in Cyprus.’

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10 Reasons to Come Back to Investment Property in Cyprus

Oh dear, we’re not normally this fickle at Amberlamb but we’ve had a complete change in our feelings towards the property market in the Republic of Cyprus. 

Having just returned from a month long sojourn around the island during which time we took in more than just the bars and the beaches, we’d like to present for you 10 reasons why we feel it’s time to come back to investment property in Cyprus.

When we were overlooking the potential in Cyprus and the appeal of the market we were looking at fast burning, overseas emerging hotspots and forgot that Cyprus cannot be compared favourably to such markets because Cyprus’s appeal is as timeless as the island is beautiful.

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Who’s Actually Investing in Property in Cyprus?

Ever since at least 2001 we’ve had talk of a marina being built in the Coral Bay area of Cyprus close to Paphos, ever since 2003 we’ve had talk of a significant business centre/hospital/university complex being constructed in Paphos, ever since budget airlines became known in the main stream media as ‘budget airlines’ we’ve had talk that they’re about to open new and affordable routes to Larnaca - and all of these ambitious plans are continually shoved in the face of anyone who dares suggest that Cyprus is losing its appeal in favour of tried and tested destinations such as Spain or France or emerging cuties like Turkey or Croatia for example.

But excuse us asking - when exactly will any of these ambitious plans be realized, come to fruition or even begin construction?  Could it be that all of these plans are actually backed by nothing more than hot air and hope rather than genuine and sustainable investment commitment because after all, who’s actually investing in property in Cyprus anymore?

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