Whilst it is true that real estate in the Republic of Cyprus is widely considered to be one of the safest high-yield investments in the Mediterranean, properties in some parts of the island are set to appreciate more than others. Investment Property and Villas North Cyprus With anticipated differences of up to 5% per annum between an ‘average’ piece of Cypriot real estate and a ‘hot property’, investing in the right place can mean the difference between getting a healthy return on your investment and making a killing.
Kyrenia Famagusta Catalkoy Bogaz Lapta Bafra Esentepe
So how do you find out where the hotspots are?
This is the real trick, since the Republic’s property market moves notoriously fast and yesterday’s hotspot may already be starting to slow down today.
Some investors browse through the baffling number of homes and villas available in north Cyprus before choosing one which seems right, others resort to paying a visit to Aphrodite’s isle, taking a look around and asking a few questions. Property and Villas North Cyprus Almost everyone on the island has an opinion on this matter and most locals will gladly point prospective buyers in the direction of a cousin or uncle who will ensure they get the best possible deal on their investment. This course of action almost invariably leads to a bum deal for the buyer and a gratuity for whoever referred them to the helpful uncle.
Finding the perfect Investment Property and Villas North Cyprus is about more than blind luck or listening to rumours.
The fact is that the best way to find current and future hotspots - short of spending a few years on the island to get a feel for the place – is to contact a specialist property consultant. Property Consultancies such as Meridies Homes Property Villa Sales benefit not only from many years of experience in the local real estate market, but also from an in-depth knowledge of the latest developments, so to speak.
Choosing the right company is imperative, since many operators in the Republic are contractually tied to a small number of property developers and are thus unable to provide prospective investors with truly independent advice.
When choosing an overseas property consultant, be sure to select a truly independent one.
Where are the hotspots at the moment?
At the time of writing this article, the smart money is spread between three distinctly different places and property types:
The Republic’s New Golf Courses In a concerted effort to put Cyprus firmly onto the international golfing map, the government has announced the issue of fourteen licences for new golf courses. These new courses, along with the attached golf resorts, are already beginning to attract the attention of golf aficionados and shrewd early stage property investors.
The Forthcoming Paphos Marina Plans for the construction of a spectacular new marina are afoot along the Cypriot west coast between Paphos and Coral Bay. The project, which is currently in the pre-release stages, has already attracted the attentions of numerous Hollywood and Sporting celebrities due to its highly exclusive nature. Once complete, the area around the new marina complex is set to become one of the most sought-after localities in the Mediterranean.
Larnaca’s Dekhelia Road On the face of it, Larnaca’s Dekhelia Road tourist area may seem like a somewhat odd real estate hotspot, due to its proximity to the local oil refinery. However, this eyesore is soon to be moved to the Limassol industrial zone and its site cleaned up with a massive grant by the European Union. Once the removal operation is complete, the area will be redeveloped completely into a leisure zone incorporating hotels, a large number of luxurious homes and even a new marina.
There are of course simply too many property hotspots in Cyprus to list individually in an article of this length, but the above should provide a good starting point if you are interested in buying a property in Cyprus.
Thursday, 22 March 2007
Property Villas In Cyprus
Property and Villas in North Cyprus has seen price rises in Cyprus which have led to steady capital gains for Cyprus property owners. Recent announcement by low cost airlines that they have new routes to the island are set to make property in Cyprus even more disirable. One city that overseas investors love is Nicosia. The city has been a firm favourite for overseas property buyers and offers some attractions that you simply cannot ignore these include:
Kyrenia Famagusta Catalkoy Bogaz Lapta Bafra Esentepe
The sun shines for approximately 330 days of the year.
Crime rate is 1/6th of the EU Average.
The cost of living is much lower than in many parts of Europe.
Ninety percent of Cypriots speak English.
The legal and banking systems are based on the British.
The telecommunication systems are very advanced.
Advanced medical care.
Cyprus Villas net rental returns vary between 4.5% to 11% and capital appreciation is still in double figures, expecting to show 10 to 17.5%. The average rental net return in Britain today is around the 3% to 4% mark, and capital appreciation generally matches this.
The Land Registry Department in Cyprus is one of the most advanced and reliable system in the world.
Steady Cyprus house and villa price increases have been putting a smile on the faces of the islands home owners and with the recent announcement by low cost airlines the news cannot get better One city that overseas investors love is Nicosia.
About Nicosia
Nicosia is the capital and largest city in Cyprus. The city is located on the Pedieos River and the population of the city is 206,200. The city is modern with several shops, restaurants and entertainment. The main industries include textiles, leather, pottery, and plastics. There are also several copper mines near the city.
Nicosia is located in the center Cyprus Villas of the island and has a historic feel with a Royal Palace and several Byzantine churches. The streets and old houses are very ornate. The Cyprus Museum is home to a large collection of Cypriot treasures and antiques. The heart of Nicosia is Eleftheria Square, also known as Freedom Square. The city hall, post office and library is located here.
Northern Cyprus has a large property and villa market of apartments and villas. The town of Karsiyaka is projected to be the next number one area for overseas property investment. The town is only half an hour from Nicosia is expected to become a luxury development area with hotels, vacation homes and luxury villas. The area is simple with coffee shops and markets, but the area is very beautiful and nestled into the mountainside. The majority of the property in this area has been allocated by the government for development for the tourism industry and several superior resorts are expected to begin construction. The area features stunning beaches that have been relatively untouched as well as numerous mountain trails. Shops, supermarkets and leisure facilities are also expected to begin growing in this region, making the area prime investment property.
The climate of Cyprus is very Mediterranean. The area is still very natural except for the major city districts. The outskirts have attracted numerous people because of their beautiful beaches and mountain scenery. Seaside homes are very popular with vacationers, tourists and retirees.
Kyrenia Famagusta Catalkoy Bogaz Lapta Bafra Esentepe
The sun shines for approximately 330 days of the year.
Crime rate is 1/6th of the EU Average.
The cost of living is much lower than in many parts of Europe.
Ninety percent of Cypriots speak English.
The legal and banking systems are based on the British.
The telecommunication systems are very advanced.
Advanced medical care.
Cyprus Villas net rental returns vary between 4.5% to 11% and capital appreciation is still in double figures, expecting to show 10 to 17.5%. The average rental net return in Britain today is around the 3% to 4% mark, and capital appreciation generally matches this.
The Land Registry Department in Cyprus is one of the most advanced and reliable system in the world.
Steady Cyprus house and villa price increases have been putting a smile on the faces of the islands home owners and with the recent announcement by low cost airlines the news cannot get better One city that overseas investors love is Nicosia.
About Nicosia
Nicosia is the capital and largest city in Cyprus. The city is located on the Pedieos River and the population of the city is 206,200. The city is modern with several shops, restaurants and entertainment. The main industries include textiles, leather, pottery, and plastics. There are also several copper mines near the city.
Nicosia is located in the center Cyprus Villas of the island and has a historic feel with a Royal Palace and several Byzantine churches. The streets and old houses are very ornate. The Cyprus Museum is home to a large collection of Cypriot treasures and antiques. The heart of Nicosia is Eleftheria Square, also known as Freedom Square. The city hall, post office and library is located here.
Northern Cyprus has a large property and villa market of apartments and villas. The town of Karsiyaka is projected to be the next number one area for overseas property investment. The town is only half an hour from Nicosia is expected to become a luxury development area with hotels, vacation homes and luxury villas. The area is simple with coffee shops and markets, but the area is very beautiful and nestled into the mountainside. The majority of the property in this area has been allocated by the government for development for the tourism industry and several superior resorts are expected to begin construction. The area features stunning beaches that have been relatively untouched as well as numerous mountain trails. Shops, supermarkets and leisure facilities are also expected to begin growing in this region, making the area prime investment property.
The climate of Cyprus is very Mediterranean. The area is still very natural except for the major city districts. The outskirts have attracted numerous people because of their beautiful beaches and mountain scenery. Seaside homes are very popular with vacationers, tourists and retirees.
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