Full Description

Nicosia Capital - Excellent Buy-to-let Investment - from 20% deposit - Very rare opportunity - only 150m from the new University in Nicosia - Close to all Amenities - Built to the Highest Standards - Communal Swimming Pool.

This development is constituted by 25 one-bedroom apartments which benefits from a communal pool.

The development is only 150m away from the new University campus in Nicosia which is estimated to have around 12000 students by 2011. All the facilities are available in the area, thus it is an area that has a lot of demand from students. The rent is approximately €512 monthly.

The building will be constructed with a modern style and will be anti seismic with a good standard as well as excellent quality of materials.

The Eastern Coast of Cyprus is still increasing in popularity for both homebuyers and investors. Until now the majority of property development has been based within the resort areas but scenic surroundings and superb value for money are qualities that are attracting would-be homebuyers to nearby towns and villages as they have so much more to offer.

Cyprus is the third largest island in the Mediterranean and is the legendary birthplace of Aphrodite; it is very diverse, where European culture effortlessly meets ancient enchantment.

Because of the excellent weather and the fact that property represents good value for money, in Southern Cyprus home ownership by the British has grown steadily in recent years particularly around Paphos, Agia Napa and Limassol.

Due to the ongoing political situation in the north of the island this area is not particularly favoured by the British. Things do not get done as quickly in Cyprus as you would expect them to at home, so avoid living like a tourist or it can become expensive. However in general the cost of living is around 30% cheaper than in the UK.

Attractions

Cyprus has a dry climate and is hot for much of the year with temperatures often reaching 40°C in the summer months. Being an island the majority of coastal resorts are cooled by a sea breeze. Wintertime is generally held to be December - February when 8-10°C is the norm although it can be colder inland.

As well as being a beautiful paradise, Cyprus also offers a variety of activities: Cycling, hiking and trekking, water-sports, skiing and snowboarding, and golf.

Getting There

There are direct flights to the two main airports of Larnaca and Paphos and although the low cost airlines do not fly to the island, flights are nonetheless reasonably priced generally in the region of £100 - £180 with both British Airways and Air Cyprus the main carriers.

Capital Growth

Since joining the EU in 2004, Cyprus has enjoyed a capital growth of 30-40%. Cyprus is rapidly becoming one of the fastest growing property markets in Europe, with annual property prices increasing in the order of 15-20% per annum.

Continued investment in infrastructure of the island, the growing popularity and accessibility of Cyprus, entry into the Euro in 2008 and the relatively low prices compared with the likes of other popular European destinations such as France and Portgual, support the expected continued growth in property prices for the foreseeable future.

Demand is outstripping the supply in Cyprus at the moment and with the population estimated to grow significantly beyond the current one million in the next 15 years, it seems that prices are set to soar and we could be approaching a "boom" period in the market. The financial economy in Cyprus is extremely strong and it is expected to join the Euro as early as January 2008, and as such has to meet very stringent financial targets, all good signs for the investor. These include the reduction of interest rates to fall in line with the European Central Base Rate, this can only serve to strengthen the rising property prices. Cyprus, is at present on track to meet all financial targets. History suggests, and Independent financial projections forecast, a subsequent boom in the property market, making now an ideal time to purchase in the short, medium and long term.