Cyprus Real Estate Investment: Residential Property
There is a considerable demand for residential properties, particularly from international investors, when it comes to Cyprus real estate investment. Many of these individuals aim to generate passive income while growing their portfolios. Residential property is simple to operate for an investor, where they can handle everything from collecting rent from renters to addressing maintenance issues. The investor can save money by doing so; alternatively, numerous firms in Cyprus provide property management services on your behalf. This is especially useful if you are a foreign investor not based in Cyprus.
Cyprus real estate investment, particularly residential property investment, provides several advantages. Cyprus has a flourishing tourism economy; renting luxury homes or flats to visitors is straightforward for investors. Due to the weather, the island boasts one of the longest holiday seasons in Europe. As a result, an investor may rent out their property to tourists from May through October.
Even though the pandemic influenced the market, data obtained in 2019 show that rental homes remain in strong demand. This year's rental prices increased by 3.4 percent.
Furthermore, because Cyprus encourages homeownership, investors will benefit from a variety of tax relief and the opportunity to qualify for EU membership. The island is also the fifth safest country in the world, with a low cost of living. All of this adds up to make it a highly appealing market.
Cyprus Real Estate Investment: Commercial Property
Cyprus real estate investment, includes residential property investment and commercial property investment. Many individuals believe that commercial property investing is riskier than residential property investment. Cyprus, on the other hand, offers some attractive options. If you have an eye for recognising up-and-coming districts or know where there is a large demand for apartment buildings, then investing in commercial property is appropriate for you.
Cyprus Real Estate Investment: Benefits
By investing in the Cypriot real estate market, you will not only enjoy the environment and the relaxing location, but you will also profit from the numerous advantages that the island has to offer. Among these advantages are:
One of the most tempting qualities that create Cyprus's investment potential is the low corporate tax rate. The corporate tax rate is 12.5 percent, one of the lowest in the European Union, and fully conforms with EU and OECD regulations. The benefits extend beyond the low tax rate. Dividends from the sale of stocks, bonds, and other financial instruments, as well as foreign exchange (FX) dividends and revenues from Overseas Permanent Establishments (PEs), will be tax-free.
According to the most current interest rate study (September 2020), house loan data have decreased to 2.10 percent. This is a considerable reduction from its 2012 peak of 5.33 percent.
Member of the EU
Cyprus is a European Union member that utilises the Euro as its currency. The island enjoys access to the single market and the customs union. Being a member of the European Union, Cyprus has the same rights as any other EU member.
If you are looking for commercial or residential properties, Cyprus's real estate investment is absolutely worth considering. The island has various advantages for investors, including a geostrategic position and a favorable tax structure. Every district on the island has something to offer investors, and it's a buyer's market.
We can support you with your investment decisions. Speak to a team member today for more detailed information and how we can help you find your ideal investment opportunity. Give our team a call at 77000111.