Cyprus has come a long way ahead from the financial crisis of 2013, and the island has reemerged to witness an incredible real estate boom as the economy continues to improve. Cyprus has emerged as one of the most profitable real estate destinations of 2019. If you seek to reap benefits from the strong surge of optimism that has engulfed the island, we will walk you through all the reasons it is smart to invest in real estate.
SURGING PROPERTY PRICES
Smart investing in Cyprus has seen a surge in property prices. Cyprus has undergone several developmental projects, and a remarkable series of new residential projects have been initiated, which have increased the prices of apartments by an impressive 7.4% last year. Throughout 2018, the House Price Index has continued to grow, and the yearly increase reported to be 1.2%, which rules in favor of making real estate investments that are guaranteed to pay off.
Real estate experts are quite confident and believe that this upward trend in house price increases demands and increases profitability for the investors.
REDUCED INTEREST RATES
Even though the Brexit crisis has created financial turmoil across the world’s markets, the real estate industry of Cyprus is benefiting from reduced interest rates. Reduced interest rates and low monthly payments are just what young and first-time investors need to minimize the risks and maximize their gains. The last few years have witnessed interest rates at their lowest, and 2019 has emerged as the best time to make an investment, be it residential or commercial.
GREAT TIME FOR COMMERCIAL ACTIVITY
Reports for 2019 have revealed a strikingly impressive increase in the demand for Grade A office complexes, particularly in decentralized regions and CBD, and 2018 also witnessed a great deal of stability in Cyprus’s commercial market. It is incredibly smart to make real estate investments in Nicosia’s financial epicenter and capital, while multi-story buildings and office spaces are booming all across the island of Cyprus.
Smart Investing in Cyprus: INCENTIVES BY THE GOVERNMENT
Cyprus’s government is stimulating the real estate industry with incentives that encourage investment by inviting local and foreign investors. This smart investing in Cyprus is showing positive results. The cities of Limassol and Paphos are opening up with a remarkable scope of profitability and several developmental projects, and several governments introduced incentives have encouraged local and foreign investors to invest in the seaside destinations of Paphos and Famagusta, along with the urban hubs of Larnaca and Nicosia. The residential sector is booming, and the multiple developmental housing projects indicate that the government is encouraging Cypriots to invest in houses and apartment buildings.
TECHNOLOGY MAKES INVESTMENT MORE EFFICIENT
The countless technological platforms have made real estate investment much more comfortable than it ever was. The modern investor can browse through numerous listings and take virtual tours of any given location across Cyprus’ islands. Instead of driving around the cities all day, visiting place to place, and dealing with mindboggling legalities-modern investors can enjoy a time-saving process and transparency that gives more control to the investor.