Good times ahead in Limassol for investors
A British property investor has spoken positively of his decision of buying a property in Cyprus.
Martin Cooper came to know that government plans to use Limassol as a base for oil workers. So he bought two apartments in Limassol late last year. Mr. Cooper added that he is not looking for quick returns but willing to invest in the long-term.
Speaking to the Sunday mail, he said that Government’s plan will be positive reading for owners of rental accommodation in Limassol, as it would increase the demand for temporary lodgings. Therefore, he felt that buying a property in Limassol could be far more lucrative as it also has more seasonal tourist trade and he can collect significant rental returns from the visiting tourists and workers.
Daily Record has reported that overseas investors are able to take advantage of numerous financial perks as a result of their move to Cyprus, such as tax breaks. The cost of living in Cyprus is also up to 20 per cent cheaper than it is in the UK.
According to the statistics by Jet-to-Let magazine, almost 40 per cent of prospective British buyers plan to invest on the Mediterranean island in the next year.
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