Is Buying an Immovable Property in Cyprus a Good Investment?
Researches made on the world real estate trends demonstrate that Cyprus is on the rise. For those who want to buy an immovable property for investment purposes, Cyprus offers opportunities that definitely need to be explored. Compared to other places in the world, making a real estate investment in Cyprus is much more advantageous in many respects. Some of the reasons why real estate investors prefer Cyprus may be listed as the following;
• Housing prices are rather affordable.
• With rental income, the investment is paid off in 8 to 12 years.
• Rental income tax is 10% of the rental contract price.
• First-time house buyers pay 3% VAT.
• Real estate tax is TL 1 per square metre.
• Development of other investments increase the real estate demands.
• New city planning works improve housing projects.
• The state provides great convenience to foreign investors.
• Taking out loans for real estate investments is easy.
• Water project, Airport project, Port and marina projects offer unique opportunities for real estate investments.
What Should Be Considered When Making a Real Estate Investment in Cyprus?
If you want to earn income from a real estate investment in a short period of time, you need to buy a house in Cyprus’s regions with high rental income. You may select a region according to development projects, for a real estate investment to gain value and provide high income in the long term.
You may have your investment paid off in a short period of time, by buying an affordable house in the right place. High rental income may be earned in places where tourists, students and merchants mostly stay. You may buy a villa in the İskele (Trikomo) region where tourists rent seaside villas. You may also assess the residences in the centre of Famagusta which are mostly preferred by Arab investors. You may buy a flat within walking distance to universities and then rent them out to students. You need to especially be careful about status of the title deed and the selling firm while buying an immovable property. If you think of a house for sale in Famagusta region, this article of ours may give you an idea.
Explore the Most Advantageous Real Estate Opportunities in Cyprus
Thinking of Cyprus with respect to real estate investment is a reasonable approach. If you have thoughts about making an investment in Cyprus, you may consult with a reliable firm that would guide you in this respect. They may explain to you the house alternatives, real estate market and investment returns in Cyprus’s conditions.
Coming to the fore with its housing projects that add value to Cyprus, Döveç Construction is a firm from which you may gain support confidently in this regard. Please click to explore the most advantageous real estate investment opportunities in Cyprus and to assess the investment opportunities that fit well with your budget.