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.

If you’re an investor looking for long term potential in a mature and stable market or if you’re a buyer seeking an established and quality market where you can benefit from a property personally, enjoy a rental income from it when you’re not using it, live in it full time and even gain from a proven exit strategy, then you should really read these 10 reasons to come back to investment property in Cyprus.

1) Cyprus is a political democracy – the army is not running this country, the people’s choice of government is.  And because the Greek Cypriot people are entrepreneurial, well educated and forward thinking and are a body of people well able to voice any issues that they have with their nation’s economy or the way the country is being run, Cyprus is a nation being driven forward, it’s a country willing and determined to adopt reforms, improve the economic climate and do all it can to remain affluent and successful…great news for investors.

2) Cyprus is a fully fledged member of the EU – this means it can trade and compete, it can receive financial support and what’s more, this means its building standards, practices and overall infrastructure have to be of a high standard.  Cyprus is not a second or third world nation in which you have to worry about shoddy construction work and non-regulated electricians or plumbers! 

3) Cyprus benefits from steady and dependable economic growth, the Cypriot economy is not a boom/bust economy, rather it is one on which an investor can rely much more heavily.

4) The tourism market in Cyprus is proven and what’s more – in the face of stiff and increasing competition from the likes of Turkey, Dubai, Bulgaria, Morocco and Croatia for example, the Cypriot government and leaders within the tourism industry and looking at ways they can attract alternative tourism interest from a more affluent traveller which bodes well for future rental income potential from well placed rental real estate.

5) There is a broad base of property related demand in Cyprus – an investor can buy land in desirable locations, apply for planning permission and resell for development, a buyer can purchase an apartment to rent out to professional and international citizens in the capital city of Nicosia, they can buy with the plan of reselling to the strong expatriate or retirement market or there is the jet-to-let strategy of buying well located property for rent to the tourism market which is particularly strong from Easter until the end of October in Cyprus.

6) There is a sophisticated and mature property purchase and registration process in the Republic of Cyprus that protects international buyers in the same way as it protects local buyers.  What this means is that buyers don’t have to fear they will be refused permission to purchase or that they will not be issued with their title deeds even when they have paid in full for their real estate – which is actually a very real possibility in certain emerging countries.

7) The standard of living in Cyprus is very high indeed and this is a positive factor in the nation’s favour and means that it consistently attracts a sustainable flow of affluent inward migrators annually.  These expatriates are drawn to Cyprus by its very low crime levels, reasonable cost of living, low tax rates and the standard and sophistication of everything from the shops to the roads.

8) Because English is widely spoken and understood, Cypriots still drive on the left and the British influence is incredibly strong in many essential aspects of life in Cyprus such as in the banking and legal systems as well as in the shops for example, British tourist and expatriate numbers increase annually in Cyprus.

9) Aside from the British interest Cyprus is a nation with worldwide appeal which has one of the broadest ethnic mixes when it comes to the nationalities of visitors holidaying in Cyprus every year.  This is a positive factor which the government can focus on targeting for the development and expansion of tourism to the island.

10) And finally – because there is such a large expatriate community in Cyprus and it remains one of the most popular nation with retirees and also those seeking a new life in the sun there is always a market to buy property giving an investor a tried and tested exit strategy.

Special Reports: Property News for Cyprus

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

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