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According to a Sunday times Article, Cyprus is slated in the top four as an excellent opportunity for property investors. |
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According to a Sunday times Article, Cyprus is slated in the top four as an excellent opportunity for property investors. Citing expert property indicators, Cyprus'annual house price growth is put at 15% while rental yield is an average 8%, putting it top along with Spain.
Moreover, house price growth is only higher in Beijing and Latvia, where the average rate is 20%.
"Other commentators are tipping southern Cyprus as a hotspot for 2006," said the Sunday Times. Nevertheless, Beijing is targeted as an attractive venture for foreign investors in view of the upcoming 2008 Olympics.
There is more trepidation about investing in property in a communist country, but to sweeten the pill developers are offering to guarantee rents.
UK investment firm, Key Universal, is promoting apartments in Beijing starting at 118,000 stg, return for the first ten years.
The rent promise stands even if tenanta can't be found, allowing the mortgage to be paid and hopefully investors can cash in on rising house prices.
THE CYPRUS WEEKLY. January 20-26, 2006
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