Thanks to its mild Mediterranean climate Cyprus is the ideal place to own a holiday home. With over 320 days of sunshine every single year the Island is the perfect place to own that place in the sun you have always dreamt about. Luxury villas in Cyprus are probably one of the most cost effective ways to own a place of your own. Despite recent increases in property prices villas and apartments on this beautiful Island paradise are still great value for money. With so many options available to none residents wishing to purchase a Cyprus luxury villa the time could be just right. Few would argue that property has always been a sound investment and right now Cyprus holiday homes are among some of the fastest growing investments out there.
Many folks will tell you that “buying is easy but paying is hard” that’s because they are unaware of the booming market for rentals of luxury Cyprus villas. Many astute investors are buying holiday property with the sole intention of renting it out to Cyprus holiday makers. In fact, if handled correctly an investment in Cyprus property could even be totally self financing through these lucrative holiday lets. The demand for self catering villas has increased quite dramatically over the past few years. This is due in the most part to a switch in peoples holiday booking habits. Rather than booking the traditional package tour through a travel agent people now prefer to self build their own packages on line. This often involves separate flight, accommodation and car hire arrangements that are all reserved over the internet.
Those who have already been astute enough to invest in luxury Cyprus villa developments are already reaping the benefits of this evolving trend. Holiday lets for a typical villa with a private pool are earning up to five times more than a long term monthly rent. For example at the time of writing this article a three bedroom luxury Cyprus villa with a pool rented out long term is realizing about cyp600.00 per month. Identical Cyprus property rented out to holiday makers is generating cyp800.00 per week! That’s right, cyp3200.00 in the high season and not a great deal less for other times of the year either. Imagine earning that kind of income from your property and all the while the equity keeps on rising too. Then, when you’re ready to retire in the sun it could be just about bought and paid for courtesy of the Cyprus rental market.
Those buyers who have really got it sorted have taken the rental income a step further with mixed letting. They rent to Cyprus holiday makers during the summer season and combine it with a longer term let over the winter. With such a mild climate Cyprus is ideal for retired couples wishing to escape the cold British winters and expensive heating costs. An increasing number of these senior citizens are spending late autumn to early spring in Cyprus. This is generating an additional steady out of season income for owners of luxury Cyprus villas too. This mix of letting both in and out of season is great news for those looking to utilize their investment to the full.
The other side of the coin is of course those looking to rent medium to long term rather than buy their own luxury villa in Cyprus. There is an increasing trend in this kind of rental and villa owners that have caught onto it are already reaping the benefits. Many older couples are selling up at home, living off their investments and see no future benefit in property purchase for themselves. Despite the rising values of property in Cyprus the average wage keeps the domestic rental market under control. This is great news for those looking to rent villa for the long term without the hassle of home ownership. Another supply of medium term rentals is being generated by those who have purchased but are awaiting completion of their own Cyprus villa or apartment. The bottom line is that holiday homes are still a great investment especially with all that the Island has to offer. So maybe it’s time to take a look at a luxury villa in Cyprus.
