Cyprus Increases Its Investor Appeal
An island rich in ancient history and with almost unparalleled beauty, Cyprus has long proven popular with holidaymakers from around the world. Averaging more than 300 days of sunshine each year, and offering a number of superb beaches scattered along its coastline, it is easy to see why so many people have fallen in love with Cyprus.
Prominent holiday home investment markets such as North Cyprus produce high return benefits of approximately 4-5% per year for the coming ten years. This sort of revenue returns are set to stay for the foreseeable future, meaning North Cyprus will retain a stable economy and growth will continue in positive territory.
Even though North Cyprus has been popular with holiday home investors for quite a few years now, the increase in developments on the island has also continued, keeping up with the an increasing high demand. There are a whole bunch of determining factors that have helped to make this healthy investment environment possible. Favorable fiscal conditions, a high standard of living and a booming tourist industry and today’s holiday home investors are not only finding North Cyprus to be a winning choice, but a European leader in property investment.
As well as the obvious attraction of the increasing demand for tourism on the island, there are a number of other factors which have aligned in recent time to present a more favourable investment opportunity. In particular, Cyprus’ accession to full membership of the European Union (and the increased trading opportunities associated with this) has produced a vibrant and thriving economy, which coupled with the high standards of living and favourable tax conditions present a strong fiscal case for investing property in Cyprus.
Further more with the potential reunification of the North and South of the island, even more property investment opportunities will come about, as property prices in the Turkish North are a lot more cheaper than in the south of the island. On-going talks should lead to a future re-unification of Cyprus, so potential property investors should keep an eye on the unfolding political events in Cyprus.
High quality projects being developed throughout the north of the island are already on the rise with destinations such as Catalkoy and Bogaz, which have already become an immediate success. Once re-unification is confirmed, such development processes are likely to grow fast as everyone knows that prices in the north will rise to those prices found on the south of Cyprus
With the increasingly challenging global financial climate causing investors to redefine objectives and returns, Cyprus is becoming an increasingly popular option for investors seeking a long term, more stable property investment. Mark Burns works for Offplanworld.tv, a UK based real estate company who specialise in off-plan investment property throughout the world’s emerging markets, and who offer a wide portfolio of off-plan property in Cyprus.