Is it worth investing in real estate in Cyprus?
The analysis of cyclical changes in price trends and interest in investing in real estate in individual countries leads to the conclusion that both this year and in the following years Cyprus will be a very attractive place for investors. Is it worth investing in real estate in Cyprus?
Cyprus’s crisis in 2012 meant that the country was on the brink of bankruptcy and several banks ceased to exist, which directly affected the decline in property sales and, consequently, reduced prices to a minimum level over the last decade. Drastic reforms of the government, however, healed the economy, and effective financial assistance of the European Union and agreements concluded by the Cypriot government with certain countries outside the European Union ensuring buyers of real estate from these countries the right of permanent residence in Cyprus, revived the market and definitively stopped the fall in prices. Moreover, according to Cypriot and foreign analysts, it is likely that island property prices will rise by at least 30 percent over the next four years.
It is therefore certain that by buying a house or apartment in Cyprus we will not only use the location and climate values of this place, but also we can treat this purchase as a profitable and safe investment. Today, the developers’ offer is very diverse and can satisfy every requirement, especially in correlation with the tourist advantages of Cyprus.
Cyprus is the only Asian country that belongs to the European Union, and thus in a collision-free way combines Asian exoticism with the EU’s sense of security.
The ancient Greeks recognized Cyprus – probably for a reason – as a place of extraordinary climatic and landscape values and allowed their beauty goddess Aphrodite to be born here from sea foam and experience a fairytale romance with Adonis. This island inspired Ovid to place on it the story of King Pygmalion, who carved beautiful Galatea. The beauty revived by Zeus so that she could marry Pygmalion and give him a daughter, Paphos, by the name of which the beautiful coastal city was named.
Legends and fairy tales could be multiplied, but more important are the qualities that distinguish Cyprus today. Undoubtedly, climate lovers are particularly attractive for enthusiasts of holiday rest. The average water temperature around Cyprus is 1.5 degrees higher than the average in other regions of the Mediterranean, and the bathing period in comfortable conditions lasts over 7 months a year with a number of sunny days exceeding 300.