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2018 is a Great Year for Cyprus Tourism, Real Estate and Buying Property

2018 is a Great Year for Cyprus Tourism, Real Estate and Buying Property

According to the Statistical Service of the republic of Cyprus regarding tourism 2018 has been another great year. The total number of arrivals through October of 2018 is 3,673,377 slightly higher than same period in 2017 where we saw 3,408,473 and already passed the total 2017 arrival which was 3,652,073. As usual the country with the highest number of individuals visiting Cyprus is the UK with a total of 1,245,718 visitors through October this year.

All indications point to this trend continuing in the coming years. With the great year round weather Cyprus offers and the welcoming culture of the people along with the many activities for everyone to enjoy it’s not hard to figure out why this will be a trend into the future.

Cyprus is Attractive to Tourists and Expats Looking to Live in Good Climate & Safe Environment

The property sector has been very active in 2018 as well. We have seen record numbers of properties sold this year and all indicators show signs that the market is changing from a buyers to a sellers market. Homes are sold in days rather than months or years as we have seen in the past.

Since the banking crisis of 2012 sales figures have steadily increased. Every measure that the EU has implemented to insure Cyprus bounces back has worked to perfection. The country’s banking sector has improved tremendously from the days of the Haircut and we no longer see people pulling their money from the banks but completely opposite.  Moody’s ratings of Cyprus has steadily improved their ratings of Cyprus as it has showed robust growth with high GDP and even higher projections for years 2019 and 2020.

Brexit is a Little Speed Bump that Shall pass

In recent weeks we have had a number of UK clients who have been in different phases of  the buying process tell us that they are putting things on hold until they get a better understanding of what will happen with Brexit. We had this kind of response just before the Brexit vote of 2016 where we had many cancellations, but soon after everything was back to normal things have really picked up to the point not seen in over a decade.

If you are thinking of purchasing a property in Cyprus for yourself or as an investment there is no better time than now. Here are some of the reasons why you can’t wait much longer

  • Properties are in short supply so if you see something you are interested in you better get it now.
  • You can always buy new build, but there are things to consider.
    1. Higher prices for new build.
    2. It will take sometime before completion.
    3. Finding the right builder.
    4. Waiting for the title deeds.
  • Increase of prices .

There are SO Many Reasons To Live in Cyprus.

There are so many reasons why  buying in Paphos, Cyprus is a smart choice but I will end this post with something that not many people consider – there really is nothing more important for your well being than a happy lifestyle. Regardless of your personal circumstances it is a fact that we all do better in warm, sunny weather. Feeling depressed, losing interest, difficulty concentrating occur when the seasons are changing. Many studies have shown there are people who suffer from Seasonal Associate Depression (SAD) due to the fact that they are not absorbing enough natural sunlight.  These symptoms increase as the days shorten in the winter months and people buy artificial lights to duplicate the benefits that we can get get naturally by living in a place like Cyprus.

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Cleo Shahateet

Blogger and realtor. Business and marketing passionate.

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