Cyprus-Forum.com

[esamuels]

Hello folks,

My wife and I are looking to purchase an Apartment for rental purposes and for our use.

Can anyone suggest as to which city in Southern Cyprus would give the best returns for rental income?

Do you get more couples than young families? Should I go for a Studio, 1 Bed or 2 Two Bed Apartment?

TIA


Errol




[/b]

[Piratis]

According to the experts the south-east is the best for what you are looking for.

Here are some articles about it:

South-east Cyprus top 'hotspot' for buy-to-let

France and Cyprus top the bill as property hotspots

[Sarah McD]

:?: Hello folks,

My wife and I are looking to purchase an Apartment for rental purposes and for our use.

Can anyone suggest as to which city in Southern Cyprus would give the best returns for rental income?

Do you get more couples than young families? Should I go for a Studio, 1 Bed or 2 Two Bed Apartment?

TIA


Errol




[/b]

I'd suggest staying away from Larnaca - it's a very unfriendly town towards foreigners.

Limassol is a bit run down.

Ayia Napa and Paphos are nice, they're probably your best bet for renting out a property as they are the busiest places for tourists.

Good luck

[esamuels]

Thanks Piratis and Sarah.

Piratis, my problem with the so called "experts" is that while i respect their opinions they tend be biased but the information you provided is appreciated and useful.

We have been to Protaras 2 years ago and the people there were extremely friendly. My understanding with the Protaras/Paralimni/Ayia Napa area however, is that between November and April the place is like a ghost town while Paphos is still buzzing. Is this true?
Or is the area being revived for all year round season?

regards,


Errol

[Svetlana]

Hi Errol

The east of the island has by far the better beaches; most on the west are man made; but some are quite reasonable; I like swimminhg from Coral Bay.

However, while the East does get a bit quiet in the Winter, Paphos is a better all year bet: Spring/Summer - 'normal tourists' Winter - golfers and long term rentals for retirees escaping the UK Winter.

Downside of Paphos: property is much more expensive: upside thats because it offers the best equity growth and rental.

The property market has slowed greatly but the right property in the right location will still be a great investment.

The introduction of VAT, effectively from this year - and the introduction the UK of SIPP (Self Investment Personal Pensions) should drive up property prices here in 2006. In 2007, entry into the Eurozone, will force interest rates down - again stimulating the Market.

Lana

[esamuels]

Many Thanks for that Lana,

Well i guess I need to leave all my options open then. I had originally planned to look at Protaras/Paralimni/Ayia Napa and Limassol only as Paphos but I will have a look at Paphos as well since I will be there for 2 weeks in October.

regards,

Errol