Somewhere that is a really hot place to live in Europe at the moment is Northern Cyprus and it may just be down to the 300 sunny days it has each year. Cyprus is the 3rd largest Mediterranean island and it’s villa expansion has become immune to the current economical crisis.
The island of North Cyprus is still maintaining a steady growth in GDP as cyprus property investments continue to rise and the real deciding factor to these conditions is the wonderful climate that Cyprus possesses. This means that the apartment rental sector is as solid as a rock as the Cyprus tourist season lasts a lot longer than other European holiday destinations.
Cyprus enjoys low cost all year round prices, a European culture a whole world apart, very really friendly local residents, great security and a low crime rate all over the island. On the whole you really cant go wrong with property investment in Cyprus and you are about to discover some more exciting reason just why you should choose Cyprus.
It doesn’t matter if you are looking for a rapid profit or a long term property investment, then you will find that North Cyprus has the perfect environment to achieve your financial goals. In Cyprus new villas and developments are under way and you probably wont see any cranes laying idle in Cyprus. If it is a fast profit that suits your Cyprus apartment investment needs, then you should think about buying off plan and then sell on completion about 2 years later, resulting in an average 15 – 25% net profit.
A few years ago I only had a UK mortgage and decided to invest in a holiday home in Cyprus. I no longer have a UK mortgage thanks to that investment and by being able to rent it out for an average of 14 weeks per year. Apart from the appreciation value added to my investment, I have also covered the monthly mortgage payments with the monthly rental income. The truth is that I have manged to buy 2 more villas over the last couple of years, which is what helped me to clear my UK mortgage.
This boom in the new build villa property market has opened the door to some real bargain prices on the resale property market. I have been shown Cyprus properties with 3 bedrooms, 2 bathroom and a pool for round 120.000 pounds and all that with a sea view included. This really is an excellent long term property investment and one good tip is to always offer about 15% under the asking price as it is common practice here in Cyprus.
Sounds like Cyprus has all the ingredients of live in a relaxed destination. Property is something that’s a favourable business in Cyprus. Plus the government too seems keen on putting money into real estate development.