Property investment in South Cyprus is not such a good idea as prices have peaked out. Prices in the North are half of those in the South and will equal those of the North once the political situation is resolved. Even as we speak, prices in the North have been rising at a rate of 20 percent per year.

As per rentals, in Kyrenia there are rentals that are full all year around. A project that I bought at "Blossom Kyrenia" offers a four-year, 10 percent per annum rental guarantee.

The developer is European and the design is smashing! Look at the blossomproperties. co. uk website for more information.

It appear that even a Greek Cypriot knows that the place to invest is North Cyprus!!!!

Hi Andre,

The situation in Cyprus is confusing with the market as it is and the Euro now. However, you are wise to continue to buy if the property you have seen if its close to the beach. They are building so fast out there that there is little beach space left, anything near to the beach now will give you a masive return on investment. As for renting your property out, there is more scope than just 6 months of the year. We have purchased several properties in cyprus now, 2 are for personal use, the others we let out.

Speak with Julie, she is an investor and developer out there, its a free service. I dont think I can give you her email unless you email me but its her name at cyprus properties dot org dot u k with obviously no spaces! Good luck with it all, its all about knowing where in Cyprus to buy, Im sure she'll give you great advice!

Have to admit I wouldn't touch Cyprus at the moment - the North is too risky with the current political situation for my liking and you've got to be so careful with the land issues. That's not to be said if you don't tread VERY carefully it won't work - it just isn't for me.

The south at the moment is looking seriously flat, however a bit of research points to some opportunity. This year investigations have begun into potential large oil fields (potentially running into hundreds of billions in value) off Cyprus which, should development start, create a market for year round rentals of good quality properties to the influx of companies/their staff that will follow. Obviously there are if's and buts - not least to say Turkish opposition to the plan - however the Yanks seem to be taking an interest in championing development and they do hold a lot of international clout.

Hello Tim, The oil issue has been spoken of for many many years and the level of exploration just now is probably not sufficient to hang your hat on for an Investment. I would suggest the reliance on finding and exploiting oil and the subsequent property movements should at this stage be classed as a gamble and not an investment.

The south provides a good place to buy and invest still, it has become a more mature market with many local people getting into the market, hence investment potential is of a more steady sustainable long term.

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Straight talking No Gimmicks www.newhomecyprus.co.uk

Like I said Grumpy - I wouldn't touch it at the moment, but it is worth monitoring. There are rumblings within the oil & gas industry at the moment that it could be back on the cards again in a big way in the near future. On a personal level I'd hate it to happen - I love Cyprus and the influx of mass oil would potentially spark en masse Americanisation.... surely the worst thing that could happen to a lovely island! Still, another few supertankers going down to join the Zenobia off Larnaca would make it an even better holiday destination for us divers!!!!

It is always good to monitor various opportunities -- even those who seem good. What is good today may be problematice in a few months and what considered a bad risk may become a gold mine due to new political and economic factors. There are no everlasting absolutes in the field of property investment and this would be a good think to keep in mind.

I am looking to invest in Southern Cyrus, I am purely looking to make money on the property not use it for a holiday home, I am considering a 1/2 bed apartment, is there still money to be made if I buy now or have I missed the boat???. I am talking to a local overseas sales company who are offering me a 1 bed apartment in larnaca/Limissol for £140.000 off plan to be completed in 2010; they are predicting I will see a 20-30% return over the next 3-5 years. They are also telling me I will cover my mortgage payments over the next 3-5 years from rental income.
I have read some other threads where there seems to be mixed views, some say get in now there’s still good money to be made, some say the bubbles about to burst, I would really appreciate some good advice from somebody who knows the market I am very concerned about making the wrong investment.


Thank you

James

James
It doesnt matter where you go theres always profit and loss tales, and the timing of your profit may be someone elses loss and so on. The growth you have been quoted is probably unreasonable and with a mortgage of 50%LTV on 140K purchase you are probably unlikely to break even on long term rentals. I hear developers/marketing company retoric coming from you. Use registered agents not sales companies. Do not go on an inspection trap,(sorry trip). In anycase the west of the Island probably has better potential than the East and to ake money on an offplan, you must get in early if possible. If you want any other information, just pm me.
Cheers
Grumpy

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Straight talking No Gimmicks www.newhomecyprus.co.uk

Look at North Cyprus but buy only Pre 1974 or British Title as 100% safe. However, make sure that you check the Title also in the South Title office.

You will get a 3 bedroom ensuite villa for the money you have.