Cyprus has been a popular property investment destination and holiday home location for many nationalities. With a population of just over three quarters of a million, it has enjoyed a prosperous stable economy (historically c. 4% p.a. growth, above the EU average). However, like many countries in the European Union, it underwent a major setback in 2013, when it had to resort to extreme measures to get its economy and finances back on track. It still ranks favourably among the high income countries of the world. Its cost of living compares advantageously with that of the UK and other European countries.
Cyprus joined the EU on 1st May 2004 and adopted the euro as its national currency on 1st January 2008. This initially helped make the economy and property market more stable.
Cyprus Holiday Home and Investment Property Market
Its City centres such as Limassol, have a thriving local economy, where a world class Marina is being built. Larnaca Airport is undergoing a major expansion to take account of a significant growth in traffic in recent years. In 2006, it was handling 2.5 million passengers a year, doubling by 2007. These city centres offer decent buy to let property and holiday let opportunities, given its 'snowbirding' reputation (a place for people to visit when winter sets in elsewhere) meaning holiday home properties can be let up to 7 months a year. English is widely spoken, there is a well-developed infrastructure and its legal system is based on English Common Law.
For a quick overview click on Cyprus Snapshot Profile
Or visit our Blog for the latest news in Cyprus
Cypriot Property - Why Invest?
For more background as to why you might consider investing in Cyprus, go to Cyprus - Why Invest section
Cyprus' Property - Where Invest?
Take a look at the Cyprus Towns and Cyprus Cities section
Take into consideration Cyprus - Why Invest section
Or keep up to speed with the Cyprus Property Scene in our Blog
Buy a Cyprus Holiday Home
To see what property is available in Cyprus, click here on Cyprus Property. If you cannot find what you like, please contact us on +44 (0)1932 849536, as we have lots more properties than are shown on the website.
Property Venture® is an award-winning, UK-based agency for overseas property who helps people buy investment property and holiday homes in Europe, more easily and safely than they can on their own, because we offer grounded common-sense advice.
The focus is mainly greater Europe: Poland property, UK investments, Spain property, Turkey property, Cyprus property
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NB: Map image courtesy of Lonely Planet