The appeal of the real estate market in Cyprus has increased significantly in recent years. The year 2024 is particularly prominent, with more and more investors seeing the potential in the island nation’s real estate market. You can read more below about what is behind this growing interest and what market trends can be observed.
The appeal of the real estate market in Cyprus has been growing steadily since 2021. Investors have recognised that they can purchase real estate at a very good value for money in the island nation. Geopolitical events have also heightened interest. Due to the Russian-Ukrainian war and the Israeli conflict, many investors are looking to move their money to a safer place, and Cyprus is an ideal destination for this. But naturally, investors outside the conflict zones also prefer to invest in the island nation that promises a secure return.
What Makes The Real Estate Market In Cyprus Really Appealing?
There is no doubt that one of the main attractions of the real estate market in Cyprus, as mentioned above, is the excellent value-for-money ratio. It says a lot about the situation that for the price of a studio apartment in Budapest, one can acquire a studio apartment or a sea-view real estate in Cyprus. In addition, the payment structures are also very favourable, for instance due to zero interest and favourable tax conditions.
The increase in property values is also remarkable. In recent years, value increases of up to 50-55% have been seen. Renting out real estate in Cyprus also ensures a stable return, with guaranteed minimum annual returns usually ranging between 8-10 percent.
Cyprus is not only attractive for investment purposes
Many people who purchase real estate in Cyprus do so not only for investment purposes. It is common for investors to buy a building or flat that is functioning as a holiday home for their own use. The island nation is an ideal holiday destination due to its wonderful attributes, as it not only has a favourable economic environment, but is also bathed in sunshine all year round.
The mild winters, plenty of sunshine and the country’s many opportunities for exploration make Cyprus even more popular. The island nation has it all: from white sandy beaches to snow covered mountain peaks. Besides the Mediterranean lifestyle, the favourable tax conditions mentioned above add extra appeal, making the country a real tax haven. This is why more and more people are choosing to incorporate their business here.
For those considering living in Cyprus, it’s good to know that obtaining tax resident status means enjoying tax exemption on interest and securities income. Furthermore, the general conditions in the country are also favourable. The healthcare system is extremely modern and well-prepared, education in public schools is free, and private schools are of high quality and affordable. Real estate prices are significantly lower compared to Western European countries.
How To Purchase Real Estate In Cyprus?
Real estate purchase is always a big decision, especially abroad. However, with the right support, you can find the ideal investment without a problem. Uniqo Estates‘ collaborative partners offer a wide range of quality real estates, varying in size and price, so everyone can find their ideal and affordable home in Cyprus.
What Does Uniqo Estates Offer To Interested Parties?
1. Comprehensive Information: we provide detailed information on real estate developments, finished projects and projects under construction, as well as available financial schemes.
2. Personal Viewing: in cooperation with our partners, we personally show the completed and under-construction real estates. For real estate viewings, we provide airport transfers and accommodation for three nights.
3. Support After Purchase: if assistance is needed regarding ownership rights or administrative tasks, we offer professional advice and services. This way, our partners can be confident at every stage that their investments are being managed efficiently and maximising their returns.
The real estate market in Cyprus continues to offer attractive opportunities for investors in 2024. Value for money, favourable payment terms and increase in value all contribute to an increased inflow of investors to Cyprus.
If you are interested in the opportunities offered by the real estate market in Cyprus and want to learn more about investment possibilities, please contact the experts at Uniqo Estates, who are ready to assist you!
