Cyprus is a popular island in the Mediterranean that attracts tourists from all over the world with its beautiful climate, beaches, rich cultural heritage and, of course, a huge selection of commercial and residential properties. To ensure that buying property in Cyprus is not a disappointment and that the investment is guaranteed to pay off, it is necessary to assess the liquidity of the properties before purchasing.
Content:
- Main criteria for choosing liquid properties in Cyprus
- Location
- Quality and novelty of the building
- Individual features of the apartment
- Infrastructure of the residential complex
- Rental permission
- Cost of the property
- Why is a market analysis necessary?
- Cyprus rental market in figures
- Let us guide you in buying highly liquid and profitable real estate in Cyprus!
Liquidity is the ability of a property to be sold or rented quickly and at a good price. So how do you choose fast paying apartments in Cyprus? Let's find out.
Main criteria for choosing liquid properties in Cyprus
The investment potential of a property depends on a combination of factors. These include:
- Location;
- The quality and novelty of the building;
- Individual characteristics of the apartment;
- Infrastructure of the complex;
- Permission to rent;
- Cost of the property.
Let's take a closer look at each of these points.
Location
The first thing to consider when choosing apartments in development projects in Cyprus is its location. The ideal option would be a property located in a popular resort area with developed infrastructure and convenient transportation. For example, Limassol and Paphos are two locations that are popular with both end-buyers and businessmen as well as renters. Both cities offer a wide variety of beaches, restaurants, shops, and entertainment centers.
Quality and novelty of the building
Buying properties in development projects in Cyprus is a serious investment, so it is important to choose a reliable developer with a good reputation. Check how long the company has been operating in the market, look at customer reviews and study other properties already delivered by this developer. Give preference to new condominium complexes that are already in operation and occupied. High quality construction and finish will maintain the value and liquidity of the apartment. A new residential complex will always be more advantageous than an old one, as it is built according to the latest trends, with modern technologies, fresh repairs, and reliable communications.
Individual features of the apartment
Also, pay attention to the characteristics of the apartment itself, including its area, layout, and view from the windows. Apartments with a large area and convenient layout will be more attractive to buyers. The view of the sea or the city is also important, as this aspect is important for many potential tenants.
Infrastructure of the residential complex
The amenities of the complex or building also contribute to the liquidity of the apartments. The presence of a pool, fitness center, cafes, playgrounds, shops, and pharmacies within walking distance will make your property more desirable for rent or sale.
Rental permission
Another important point to consider is the rental permit. Many property buyers in Cyprus plan to rent out their property to generate additional income. Check to see if there are any restrictions or requirements for renting property in the selected development.
Cost of the property
The market value of apartments will play an important role in their liquidity. Compare prices in the area to find out how much the property you are interested in is in line with market trends. Also consider the additional costs associated with buying and owning a property, such as taxes, utilities and maintenance.
Why is a market analysis necessary?
Market research prior to purchasing a rental property in Cyprus is an important step as it helps to make informed decisions and increases the potential profitability of the investment. Here are some of the reasons why such an analysis is necessary:
- Determine supply and demand. Studying the demand for rental properties in Cyprus allows you to determine the likelihood of the property being let at a high price and to evaluate the rental rate.
- Analyze the competition. Understanding the real competition allows you to identify the strengths and weaknesses of other properties, set favorable rental rates and offer appropriate conditions to tenants.
- Forecast profitability. By studying the market, you can forecast potential rental income and evaluate profitability. This is important for purchasing decisions and financial planning.
- Analyze property types. Such an evaluation will help you determine which types of properties are most in demand by tenants on the island. This allows you to focus on acquiring properties that will appeal to a wide range of customers.
- Preliminary planning. Understanding trends will help you develop property positioning and marketing strategies, as well as attracting tenants.
Cyprus rental market in figures
The following information will help you better understand the rental market situation.
- Average rental yield is 6.09% per annum.
- Average rental costs:
- 1-bedroom apartments is €633 per month;
- 3-bedroom apartments is €1,242 per month.
- Average cost of buying property is €2,466/m².
Choosing liquid apartments in Cyprus requires a thorough study of the market and consideration of all important factors such as location, construction quality, apartment features, complex infrastructure, rental permission, and price. Seek the help of professional real estate agents.
Let us guide you in buying highly liquid and profitable real estate in Cyprus!
Are you planning to buy an apartment for personal or business use? On Cypris-Real.Estate you will find a wide selection of properties at competitive prices. Only verified offers from reputable developers and verified owners are published there. Having trouble choosing? Our specialists will advise you on buying and selling issues and guide you through all stages of the transaction!