Buying properties in Cyprus is common practice and the amount of foreign investors has increased over recent years. But why is this type of investment so popular and becoming more so? We look at three main reasons why investors are choosing Cyprus…
1 – A good regular income for very little work
Many investors buy properties in Cyprus to rent out. Purchasing a property overseas is a fairly simple process, and management of the properties can be handed over to an agency that specialises in looking after properties for people who don’t live on the island, or choose not to get involved in the process. For a small fee, they will find tenants, collect the rent and deal with the legalities and paperwork. So once an investor has purchased a property, there’s very little to do other than reap the monetary rewards. Renting out properties brings in a regular income, and of course you still have the capital in the properties that you can recoup further down the line when you choose to sell, perhaps at retirement.
2. It diversifies investments
Everyone knows the phrase ‘don’t put all your eggs in one basket’ and this is so true for investors. No one sensible would invest their life savings in shares in just one company, if that company were to fold, all would be lost. While stocks and shares can be highly volatile, investing in property is one of the sounder ways to invest money. While property markets of course can go up and down too, investing in property not just in your own country but also overseas helps to truly diversify an investment portfolio and minimise the risk of the investments overall. While one country may have a downturn in property prices or rental income, it’s highly unlikely that all countries will be affected. Additionally, Cyprus has a good track record of recovering from property price slumps faster than expected.
3. You can own a little piece of paradise
Most investments are just not that exciting. Share certificates won’t bring you many thrills, but owning property in Cyprus is certainly an investment you can make the most of. Once you have bought a property it’s yours to do what you want with. Many investors pick up a property in Cyprus with the idea of selling it when they retire, or even living in it further down the line. In the meantime, it’s a wonderful holiday home to visit at no cost to enjoy time with the family in the sunshine, enjoying the beaches and everything else this beautiful island has to offer. Using a property in Cyprus as a holiday rental means you can enjoy an income, but you can also enjoy the property yourself when you choose to take a break away. In addition, if an investor opts to keep their Cyprus home as their own second home, there are some significant tax advantages.
Investors from Europe and beyond are choosing Cyprus properties. So is your turn to discover your dream Cyprus investment property?
