If you are currently looking to buy a property in Cyprus, you should look at your options carefully. The island offers a quality living standard, suitable for people from Britain and Western Europe, unlike some other Middle-Eastern countries.
Being the favourite Eastern Mediterranean holiday spot, Cyprus offers more than just a holiday. Many British people are getting used to the wonderful climate, the great standard of living, the quality of health care and infrastructure. As English is spoken by 80 percent of the population, it is even easier to settle down in Cyprus for Britons.
Cyprus is the 5th most popular holiday destination, and many people decide to settle down on the island after a great holiday. There is over 300 days of sunshine and the taxes are low. This makes Cyprus the best location for everyone looking for the perfect place in the Sun.
As the cost of living is much lower than in Britain, ex-pats; money goes further here. Over 60.000 British families have a holiday home on the island, and still new developments are started every year.
Most of the buildings are less than 20 years old, and that makes Cyprus Properties so popular. You can also find different styles on the island. On Nicosia you mostly find traditional homes made of stone, and these older cottages are also popular among Britons as renovation investments.
Near Paphos, the western coast of Cyprus you can buy an apartment for around 120.000 Euros. A smaller villa costs about 190.000 Euros, and a larger, 3 bedroom one 230.000. But prices vary so check out the local estate agent’s offers, to see the updated market prices.
Larnaca is very popular among British expats; you can expect higher asking prices. A two bedroom flat is about €110.000 and a smaller villa €180.000. However, as the global economy changes, the Cyprus property prices as well; always ask an agent for updated prices.
In the past few years the prices increased by up to 20 percent. That means if you invest your money in a Cyprus property now, you are more than likely to get a great return for your money in a short period of time.
There are an increasing number of investment properties on the market currently, as property management companies have soon realized the opportunities in the Cyprus market. The most popular investment is getting buy-to-let properties.