Investment Property in Cyprus

A number of factors are contributing to the steady evolution of the investment property sector in Cyprus resulting in a far more stable market where investors and second home seekers are investing for the longer term, attracting strong rental yields, steady capital appreciation and enjoying an ever more stable investment commodity.

Investment property in Cyprus seems to have matured as an asset class with fewer international property investors now buying off plan in bulk to flip assets onto the resale market upon completion for a fast turn around of profit.  Instead Cyprus is enjoying a period of stronger than average inward flow of property investment particularly into the buy to let market.  This emergence of a mature investment property market is in keeping with the emergence of Cyprus as a more sophisticated resort for international travellers and holidaymakers as revealed by the latest tourism statistics in the Cyprus Financial Mirror.

The Republic of Cyprus’ Financial Mirror has reported that the revenue being generated from visitors travelling to holiday in Cyprus is increasing dramatically annually with April 2006 having experienced in excess of 20% growth in revenue on the previous April for example. 

While the numbers of visitors arriving each year is currently static, the dramatic and sustained revenue increases highlight the fact that Cyprus is managing to achieve the goal it set itself of transforming into a more sophisticated class of Mediterranean resort which is capable of attracting and servicing wealthier visitors and the first class, business class end of the travel and tourism market.  This transformation is enabling those with buy to let property investments in Cyprus to earn higher than previous years’ summer rental rates which is improving the yields investors are returning from real estate and making Cyprus an even more attractive location for investors seeking an income from their real estate investments. 

To enable its overall evolution Cyprus is working hard to raise the standards of its resorts, to raise the island’s profile as a significant international destination of note and to achieve acceptance into the eurozone and the adoption of the Euro as the official Greek Cypriot currency.  To meet these ends so far Cyprus has done everything required of it to be accepted into the single currency monetary union by 2008, it has achieved the Blue Flag status for 49 of its main beaches, it has managed to achieve the status of UNESCO world cultural and natural treasure for the town of Paphos and Paphos, which is one of the most popular locations on the island for investment property in Cyprus is about to benefit from a new airport, a new marina development and a large new mixed use commercial property development complex.

The complex will house a hospital, private university, research and development centre, office park and international business centre as well as a range of cultural and leisure facilities and activities including museums, botanical gardens and family entertainment centres, thus broadening the facilities and amenities available to those living in Paphos and further increasing the appeal of the location for property investors.

All in all Cyprus continues to represent an excellent environment for property investors seeking a stable market with room for growth, a market where there continues to be an unceasing demand for quality property to rent out year round, and where demand for property for sale in Cyprus already outstrips supply which pushes up the price and intrinsic value of investment property in Cyprus.

Special Reports: Property News for Cyprus

Cyprus Property Buying Process
Property investors interested in the Republic of Cyprus face a relatively straightforward real estate purchase process but high purchase costs

Cyprus for Property Investors
Property investment in Cyprus: A comprehensive look at the property investment and real estate market in Cyprus and its growth potential.

Cyprus Property Investment Guide
The immediate potential for impressive capital growth and strong rental yields makes Cyprus an unrivalled investment property hotspot.