Larnaca Real Estate Cyprus

Property investment in Cyprus has always been the largest single form of investment. Traditionally, the Cypriots tends to invest in property but the downtrend of the Cyprus Stock Exchange (C.S.E.) have directed even more the attention of the investors towards property investment and development.

The relatively "free-for-all" state of the property market is becoming more and more complicated with the introduction of limitations on building, town planning zones, legislation seeking to control rents and protect and regulate tenure, Governmental Development Schemes, taxation on capital gains and immovable property, environmental legislation etc. The investment in the property market has thus become a complicated affair requiring careful planning and preparation if returns are to be maximized.

At the same time, the increases in property prices and construction costs, have made property deals a high cost venture on most occasions, making expert advice in this investment field increasingly necessary.

Property prices have been increasing on a yearly basis between 5%-8%, where as Capital Appreciation ranges between 5%-10% per annum. Thus total appreciation/return is 10-18% per annum.

This was true up to September. 2008 with the global crisis the Cyprus Real Estate market has been affected and process have been stabilised within tourist areas for non competitive projects which are offered for the foreign market, price have shown a reduction of 10% - 20% dependently on the circumstances of each property/project

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