Throughout the past 10 years, Real Estate in Limassol has changed a lot.
The catch is though, that most of these astonishing brand new and iconic properties require budgets that on the first glimpse will even scare millionaires!
Although prices in Limassol have skyrocketed in recent years, this isn’t necessarily a bad thing, not even for the locals in Cyprus. Due to the continuous upward trend of properties in Limassol, Real Estate has never been more fruitful.
Investing in Real Estate in Limassol, the year 2022 is the year that will enable your investment to flourish, and here are 3 main reasons why!
6% to 10% Return of Investment
Regardless of what investment you are looking to make, you should always think of your ROI (Return on Investment).
Real Estate in Limassol has never been more rewarding. An investment of €400,000 can yield you a minimum of 6% per year, an average return of 8% and a maximum of 10%.
So let’s do the math:
1 – Let’s take the average yield from you renting out your investment with the current renting average: 8%
2 – So let’s say you buy a property for €300,000 with a loan from the Bank of Cyprus. The loan instalment split over 35 years, is just over €500 per month.
3 – Currently, a new 2 Bedroom apartment is being built with high standards and high-quality materials, in Limassol will cost you roughly around the price we mentioned earlier, €300K.
Although the price may seem extreme at first glance, let’s take a look at the renting prices for a moment:
So with an average price of €1,500 for a brand new 2 Bedroom Apartment, let us hit you with another math quiz:
7.8% of your initial 300K investment, means €1,500 rent from your tenant each month. Minus the €500 instalment = €1,000 passive income for life!
Real Estate in Limassol is now fruitful in terms of Investment. You just have to find the right Property Consultant, that will in turn discover the right opportunity for you.
Golden Passport – No More
Due to the recent declarations from Al Jazeera, the Golden Passport of Cyprus will not be around for a long time. There’s even a big possibility that the Government of Cyprus will never re-establish a program like this.
What does that mean for Real Estate in Limassol? Well, since the citizenship via investment program has been cancelled for the foreseeable future, that means investors have been limited.
Well, what does that mean? Now we have a buyers market. Developers, resellers, Construction Companies and everyone that was involved and relied on the investment program, now are eager to sell.
Now is the time to bargain! As a potential investor in Limassol Properties, you now have bargaining power. So now is the time for you to find the 2 Bedroom Apartment in Limassol that will yield you the 10% Return on your investment.
But the question is, how do you find such property in a market so competitive and so desperate?
The answer? Simple.
You don’t! You find the right Property Consultant that knows the market in the back of their hand, knows how to bargain, and will take care of everything.
From bargaining to the contracts, and to even finding you the right tenant. This is how a Real Estate Consultant should guide you through the Real Estate Market!
Unstable Times Call For Stable Measures
We live in an era, where due to political, technological and even epidemiological events affect everyone on an international scale.
The past few years have affected the international economy drastically. First was COVID-19, then the lockdowns, then the multiple variants, and then the war in Ukraine.
Times like these call for sophisticated and chess-like moves. Investing in a property in Limassol around this era, was the go-to solution for many people. Locals and foreigners alike, invest in one or more properties in Limassol, even if they have an initial investment of as little as €30,000.
With the banks’ help, they simply apply for a loan, with the downpayment as their only initial investment. Why? Because not only do properties in Limassol now yield a 10% Return on Investment, not only it is an opportunistic market, but it is also the safest investment you can make.
Regardless of how the world goes round, and what happens nationally or internationally, real estate stays rock solid. It might dip, and it might rise. Just like any other investment.
Although, as we have seen in the past, the dips are small bumps, and when the property rises, you boast in profits!
So When To Buy?
This is the answer. Even if you weren’t thinking about it at all. The right time to buy is now.
Real Estate in Limassol is now flourishing and it gives you a Return on Investment, like no other city and/or country.
Developers are now ready to sell, with prices that are much more reasonable compared to the past and compared to the 10% yield you will be getting.
The world is changing on a daily basis, and nothing is a certainty anymore. Your €30K of savings might be worthless in a split of a second. So why have them wait?
Why not engage to buy a 2-bedroom apartment in Limassol, that will not only repay itself but will also generate profit for you and your family?
Forget about the technicalities and how to know if you’re eligible for it. We will guide you through each step of the process, and find for you everything you need.
We will chase the perfect opportunity for you, and handle everything. Let us take you to a couple of viewings, explain the above statistics in a better and more comprehensive way, and in no time you will have your passive income!