Cyprus Increases Its Investor Appeal
North Cyprus is an island full of historical culture and beholds a unique beauty and has become very popular with holidaymakers from all over Europe. With sunny days exceeding 300 per year and offering loads of sandy beaches right along its coastline, it isn’t hard to see just why so many tourists have fallen in love with North Cyprus.
As with so many strong property investment markets, the benefits of investing in Cyprus are ultimately centered around the growing market for tourism on the island. With estimated increases of around 4-5% per year over the next ten years, this revenue stream seems only set to continue for the foreseeable future.
Although Cyprus has been popular with holiday home investors for quite a few years now, the rise in developments on the island has also increased, keeping up with the high demand. There a whole range of deciding factors that have made all of this possible including favourable tax conditions, a high standard of living and a very healthy tourist industry. Today’s property investors are not just seeing Cyprus as favourable choice, but also as one of Europe’s top property investment region
Apart from an increase in North Cyprus as a leading tourist resort, there are also other factors that in recent times have lead to more favourable holiday home investment opportunities. Without a doubt the membership of Cyprus into the European Union has resulted in an increase in trade with it’s European partners, a thriving economy, a higher standing of living, lower taxation and a better legal system have all played their part in promoting holiday home investments within North Cyprus.
The futures investment market is gleaming due to the credible reunification of the North and South of the island, as even more holiday home investment opportunities will come onto the market, as holiday home prices in the Turkish North are even cheaper than those in the south of the island. Current dialogue should unfold a final re-unification of Cyprus, so potential holiday home investors should watch out for the resulting political events in North Cyprus.
High quality off-plan projects being developed throughout the north of the island continue to increase with towns like Catalkoy and Bogaz booming. As soon as re-unification is a fact, such developments will surge as investors know that prices in the north will catch up with current prices found in Southern Cyprus
With the increasingly challenging global financial climate causing investors to redefine objectives and returns, Cyprus is becoming an increasingly popular option for investors seeking a long term, more stable property investment. Mark Burns works for Offplanworld.tv, a UK based real estate company who specialise in off-plan investment property throughout the world’s emerging markets, and who offer a wide portfolio of off-plan property in Cyprus.