The perfect time to invest in Cyprus properties

Investing is how you will become wealthy. Everybody is working hard for their money. But are the money doing the same thing for you? Investing your money is the only way to make your money work for you! How you can win the most by risking the least! There is only one way and this is Invest in Real Estate in Cyprus!

On March 25, 2013, Cyprus became the fifth European Union country to be bailed out by the European Union and the International Monetary Fund. The implications of these decisions were unfolding in 2013, with no bank finance being available, deposits being blocked and a big reduction in property transactions. This bail has led to a sharp decrease in Property Prices. At that moment Cyprus economy was rated Negative by all major rating agencies.

Over the last three years, Cyprus showed impressive policy achievements and ended its IMF bailout program before term. Significant legal and institutional changes were introduced. The banking system is now on a more solid ground. Unemployment has begun to fall. The economy is back on its growth track. The economy grew by 1.6% last year, from annual declines of 2.5% in 2014, 5.9% in 2013, and 2.4% in 2012. Economic growth is projected at 1.6% this year, according to the IMF.

Now, three years later, Cyprus economy is rated as Positive due to the rapid measures taken by the Cyprus Government. This can be seen easily on the fast and major increase of new business newly open, an important decrease in unemployment rate, the increased number of tourists that came to Cyprus in 2016, are just a few observations regarding the continuous economic grow. (Cyprus’ revenue from tourism rose 16% year-on-year in June 2016, to €301m, boosted by an almost 23% annual increase in arrivals, the statistical Cypriot service said recently.)

Residential construction activity is already starting to increase. Besides the homes developments, big changes can already be seen on Cyprus skyline.

The demand for new spaces is big. Companies are already searching for more sophisticated office spaces, Business men searching for luxurious and comfortable apartments with relaxing views to the sea, or tourists that are coming back to Cyprus with only one wish to build or buy their own private homes by the sea in a country that offers 321 days of sunshine, warm temperatures the entire year, and quiet and safe style of living.

The favourable taxation system and the benefits for the companies that choose Cyprus as their base are leading in high rental demand and increase in rental prices.

In addition the new permanent residence and citizenship law that allows property owners an easy access to permanent residence or European citizenship in Cyprus is already starting to make big waves leading to a high increase in property prices.

We believe that property price have reached a minimum and now they begin to rise. We expect a 10% increase in prices over the next 12 months. Again we will emphasize on the most important advantages the Cyprus has: an important business and tourist market that are searching for rental luxury apartments of holiday homes.

Is The Best Time to Invest Now?

Yes!

Written By Nicolaou Estates