Apartments on the beach in Cyprus, make the dream come true

Property in Cyprus is arguably among some of the most beautiful in the Mediterranean area and remains highly sought after by investors as well as those looking to purchase a holiday home for themselves. Obviously the closer to shore the better, but such locations will be very expensive in many areas. This is probably why a Cyprus beach apartment is one of the most desirable real estate options for many holiday home buyers. Despite rapidly rising prices and the introduction of value added tax, there are still some bargains on beach apartments in Cyprus if you know where to look.

Buyers of beach apartments in Cyprus have traditionally focused their attention on the main tourist areas such as Paphos, Protaras and Limassol, and only the most adventurous Cyprus property seekers venture further afield. However, all of that is changing because as the price of tourist property rises, larger developers are investing in large-scale developments further afield. Not only the construction of apartment complexes or villas on the beach in Cyprus, but also large-scale developments that include shops, bars and restaurants. In fact, they are putting infrastructure where none existed before to support the developments themselves.

With Cyprus’ modern system of coastal highways linking all the major resorts, buyers of these beach apartments will never be more than a short drive from all the amenities they need, while still enjoying the benefits of a rural location. The big news about this trend is the price! Properties located in these outlying towns and suburbs can be 40-50% cheaper than a comparable house in a tourist area, making the Cyprus beach apartment an affordable reality for the buyer with a smaller budget. It is difficult to predict how long this state of affairs will continue, but most will agree that it is only a matter of time before the “ripple” effect catches up and prices in these places increase as well.

So if you are thinking of buying a Cyprus beach apartment or any residential property in Cyprus, perhaps now is a good time to make your move. It is rare, if ever, for property to drop in value, so waiting for the market to “pop” is not the best option unless you are very lucky. Vacation apartments and villas are becoming big business not only for developers but also in terms of vacation rentals. Tourists are changing their habits from the old system of package tours to ‘build-your-own’ packages where they organize flights and accommodation needs separately, including renting villas or apartments in Cyprus. This change in behavior is great news if you own a beach apartment in Cyprus and want to rent it out for a few weeks a year.

How many times have you seen a property sell for double or triple what it cost the seller a few years from now and thought, I wish I had brought one myself back then? The bottom line is that history has taught us that general property prices and inflation continue to rise year after year. A beach apartment in Cyprus that rents for 600 cyp a week today could be renting for twice that amount five or six years from now! Even the people who took a risk and borrowed against your other assets have come out on top at the end of the day. Owning two properties, one in the UK and a house in the sun, is becoming a reality for more and more people who took the chance to own it. So all the savvy buyer has to do is sit back in the sun, watch his investment grow and enjoy many years of carefree vacations in his own Cyprus beach apartment.