Let’s describe the life of an average person that has a regular job. Their shifts usually last for around 8 hours. However, they also need around an hour and a half to come and get back from their home. If the duties at work are not accomplished, they need to continue working from home. The salary they get is decent, but it can’t cover all the costs that we have. You can pay the electricity, food, and things like that, but traveling actively is impossible. First of all, you do not have enough free time to do that. Despite that, your budget is limited to your salary and you can’t afford to travel more than once a year.
We do not want to say that having a job is bad. However, most of the people realized it is necessary to have some source of passive income. Because of that, they start saving money to invest in different industries. One of the investments that will always pay off is real estate investment.
However, certain factors will influence your investing success. First of all, you need to carefully analyze the place where the current real estate is located. It is recommendable that you find a place where a lot of people come yearly. Despite that, the apartment/house/premise needs to be near some attractive places. For instance, is there a museum where a lot of people come each year? Does the place have some amazing beaches where people usually come over the summer? Is climate decent?
All these things are important and you must determine them before making the final move. Because of that, we would want to give you one suggestion. Investing in real estate in Cyprus would be a good decision. We are not saying this without any good reasons.
Let’s analyze together the benefits you can get from investing in real estate in Cyprus.
1. Touristic Destination
Cyprus is an island where a huge number of tourists come every year. The climate in this place is beautiful and it is hard to find a person that won’t enjoy it. Believe it or not, the entire island has around 1.2 million citizens. However, only in 2019, Cyprus welcomed around 4 million tourists.
This is the opportunity that you have to use. All these people try to find an apartment to rent. In most cases, they stay there for 2 weeks. It is only necessary that you allow them to book the apartment online. Most tourists come from West Europe and they want to organize their vacation when they are at home.
You can see now why we said that certain factors will influence your profit. The weather here is always fine, there is a huge number of beaches that are beautiful and these two things attract millions of people.
2. Real Estate Market is Growing
Businesses always try to find out the demands that current markets have. As we previously confirmed, tourists here demand to find an apartment to stay in. Well, this was a good sign for many companies here to start improving the real estate industry. Because of that, many new buildings and premises are built here in the last couple of years. This is a good sign that this field is profitable. The businesses would not build new buildings if no one would want to buy them. Despite that, a lot of people want to buy them because they see a good opportunity. Calculate how much money you can invest and see which things you can afford.
3. Investment Return Is In Euros
Okay, neither of the fiat currencies in the world are completely perfect. The digital currencies also arrived and made a tough competition on the market. However, one of the strongest currencies in the world is the Euro.
As you might now, Cyprus is part of the European Union for years. All the money that you get will be in Euros. This is an especially good thing for people that live in the countries that are members of the EU. They will easily avoid exchanging costs that usually reduce the profit that we make a lot.
4. Permanent Residence
This might be the best possible reason of why you should decide on this move. Believe it or not, you can get a permanent residence for investing in real estate in Cyprus. As we said, this country is a member of the EU. With the passport of this state, you can travel within the EU with less elaborate visa requirements. If traveling around Europe was a problem for you, this might make things a bit better.
We suggest you get familiar with this subject before you make the investment. There are certain rules that you should know. Because of that, you should visit Prime Property and find out more about this subject.
5. Modern Telecommunication Systems
Certain fields in Cyprus are highly developed and one of them is telecommunication. This country has one of the most modern telecommunication systems in the world. Logically, a good network is something that all tourists expect. Despite that, you will need to provide your guests with the most comfortable service. They would want to contact their relatives and families at home. This system will attract them to come here even more.
6. Modern Infrastructure
Indeed, Cyprus is an island, but that doesn’t mean it is tough to reach it. Thanks to the modern and world-class infrastructure, people can choose between several different ways to come. First of all, there are 2 international airports where more than 74 airlines operate. These airlines work in over 110 destinations (40 countries). In other words, tourists can come from different parts of the globe.
Despite that, there is also an advanced road network that connects all bigger cities of the country. You won’t need to change several different vehicles and spend many hours to come from one place to another. Logically, tourists want to avoid every potential duty that would take time.
The list would be a lot longer, but we highlighted only the most important ones. We can only add that this country is tax-friendly. More precisely, it is tax heaven for every investor that plans to spend money on real estate.
The good thing is that an apartment, house, or premise will stay yours for a long time. You can rent it to tourists and then come end live here after you retire. Everything from rich culture to beautiful weather makes this place amazing for living.