3 Great Advantages to Buying an Investment Property in Cyprus
Buying properties in foreign European markets has been a standard investment strategy for investors from all over the world – and Cyprus has been the centre of interest during the last few years, offering a blend of advantages that are difficult to find within the EU or Eastern Mediterranean. Let us examine 3 of them briefly.
1. Diversify your Investment Portfolio
Real estate investments in a different country allow you to diversify your holdings, thus making sure possible adverse developments in one area of your investments does not bring down your whole effort.
Naturally, when you invest in a market, you have some assurances, or at least some positive signs promising steady returns. Still, in the modern economy, things can change rapidly and not always favourably. Even your domestic property marketcould suffer a blow, and such a development could not only minimise your returns but also make it difficult even to sell your property at a respectable price. Someone who has invested all his money in a single market can suffer an irrecoverable blow.
A clever way to minimise the risk of such an unpleasant development is to spread your investments into several property markets overseas. It is highly improbable for all markets to decline simultaneously, especially if you pick them wisely.
Cyprus, having recovered from the major crisis of 2008 much faster than expected, offers property investors excellent opportunities to diversify their portfolio and take precautions against negative drops in their domestic markets.
2. Steady Cash Flow with Minimum Effort
In other words, a sound property investment on the island guarantees a reasonable amount of passive income, mainly from rentals. To be sure, staying abroad makes the property’s management a bit difficult, but there is no reason to do it yourself. Developed real estate markets such as Cyprus have asset management agencies that make sure rents are paid timely, repairs and maintenance are done properly and cost-efficiently, and all fillings and legal procedures are concluded appropriately, without delays and risks of fines and excessive taxation.
Indeed, property management in Cyprus makes property investment an ideal choice for people with heavy schedules and minimum time for other exploits, or persons closing to retirement and just need a steady flow of cash with stress and intense work.
3. Unlimited &… Free Escapes
Closing, we should highlight an advantage that only places such as Cyprus can offer. Boasting a natural beauty of truly unique nature, an excellent warm climate and year-round sunshine, Cyprus is a paradisiac destination for holidays. And having a piece of property there means you will be able to enjoy unlimited and, most importantly, free holiday accommodation for you and your family.
The property can also be used as your retirement haven, and thus serve as a second home. In fact, such use can also alleviate the tax burdens related to your investment. Cyprus enables foreign property owners to deduct mortgage interest on their taxes on real estate registered as second homes, giving them the chance to regularly receive rentals and possibly minimise your tax bill, just by having there your regular holiday!
Considering such rare advantages, it is not difficult to see why Cyprus has risen to such prominence as a real estate investment destination, not just in Europe, but around the world. Sweet Home Real Estates, boasting unmatched experience in property management, will be happy to present you its property portfolio, help you find a home matching your needs and guide you through making it a genuinely successful investment move.