Just back from a first visit to the Turtle Beach Hotel. I was very pleased with the apartment I bought. It is obviously built to a high standard with nice high ceilings and tastefully furnished. The views over the Red Sea from the balcony are superb. The German couple running the project are very friendly and helpful as are the Egyptian personnel. I also want to thank Richard at International Dreams for all his help and advice which turned out so well.
Mr Evans Frankfurt
Purchasing on Turtles Beach
Property sales in Cyprus exceeded all estimates in 2014, recording the first year-on-year increase in transactions since 2010.
According to statistics published by the Department of Lands and Surveys, property transactions in 2014 grew by 20% to reach 4,527 compared with 3,767 the previous year.
Cyprus has recovered beyond international expectations as a result of the steady progress made in restructuring its economy, with a projected return to growth in 2015.
So far, Cyprus has passed all evaluations with flying colours and the country – one of the smallest EU member states – is estimated to come out of recession in 2015. After a three-year exclusion, the country’s return to international markets sooner than expected has been a significant confidence booster.
Of the 4,527 property transactions in 2014, 74% were bought by Cypriots with the remaining 26% being purchased by overseas buyers.
Cyprus has an open, free-market, service-based economy with a long record of successful economic performance. The country’s strong business environment, highly educated workforce and favourable tax regime are set to continue attracting investment in its property market.
The tourist hotspot Famagusta recorded the largest increase in the number of registered sales, from 241 in 2013 to 330 in 2014, an increase of 37%, followed by Limassol (35%) and Larnaca (31%). Nicosia and Paphos both recorded a much more modest increase of just 6% although transactions are expected to pick-up substantially in these regions during 2015.
The Cypriot tourism sector was harshly affected by the financial crisis and the country’s proximity to Syria has hampered growth in both tourist and real estate markets to some degree. Visitor numbers still increased marginally in 2014 by 1.4%. Tourists from the UK decreased by 5.1%, Russia by 25.2% and there were 10.4% fewer visitors from Greece whereas there was a surge in visitors from Germany, recording a 24.5% increase during the year.
Tourism is expected to strengthen into 2015 and with property prices at extremely low levels, there are plenty of opportunities for investors to snap up high-yielding bargain properties on this beautiful Mediterranean island.
Apartments available from 70,000 euros in this developmentsmore >>> Comments Off
Property sales rose by 19.79% year-on-year to 454 in December, an outcome which was expected, given last year’s low base, said Alpha Bank Cyprus Treasury’s Alexis Kitromelides and Stavros Hadjichristofi, in their weekly report.
The rise last month compared to 379 property a year earlier and 370 in November 2014 for a 22.7% monthly gain.
“Property sales have considerably increased in 2014 although the percentage rate of ascent has slowed down in the past months since it peaked at +50.94% y-o-y and +157.48% y-o-y in June 2014 and May 2014, respectively,” the Alpha Bank Cyprus analysts said.
In 2014, sales totalled 4,527 (+20.18% y-o-y), compared to 3,767 in 2013, driven by a rise in all districts. Transactions in the offshore company haven city of Limassol jumped by 35% y-o-y to 1,417 (from 1,049), whereas sales in Famagusta district increased by 37% y-o-y to 330 (from 241). During the same period, a rise was observed in Nicosia (+6% y-o-y to 748), Larnaca (+31% y-o-y to 794) and Paphos (+6% y-o-y to 1,238).
“The leap in sales can be attributed to several reasons,” the analysts said, and explained:
“Firstly, due to the 2013 low base that was shaped by the March Eurogroup decisions and the following liquidity squeeze. Secondly, due to increased foreign demand, a trend that has been building up since the government introduced the visa-for-property purchase scheme. Lastly (according to sector agents), 2014 transactions were boosted by housing loan settlements by banks, since there is clearly a positive correlation between rising non-performing loans and sales volume.”
According to the Department of Lands and Surveys, the number of properties sold to foreign buyers amounted in the previous year to 443.
Look for properties for sale in Cyprus then go to www.internationaldreams.co.ukmore >>> Comments Off
Provinces most preferred by foreign buyers for their investments are ranked as Antalya, Istanbul and Aydin respectively, with an average of 1500 monthly transactions between January and November.
The easing of the law which governs property purchases by foreign nationals in 2012, opened up Turkey’s booming real estate market to investors from Russia, the Arab world, and Southeast Asia. The country also grants residency permits to foreigners who acquire property.
Real estate purchases by foreigners in Turkey reached a volume of USD 3 billion in 2013. Recent data from the Central Bank of Turkey reveal that foreign direct investments in the form of property purchases have already hit USD 3.5 billion for this year in the first 10 months.more >>> Comments Off
First of all a million thanks to Richard Parker for making my Egypt investment dream come true. He explained the entire buying process in great detail and put my worries at complete rest. He and his team in Hurghada are very efficient, reliable and helpful in every way. The whole buying process went smoothly and today I am sorting out the furnishing via his team ( Ramy Kamel …another great guy!). I would whole heartedly recommend international dreams to anyone wishing to buy a property overseas.
Dr Sanjay Raos
Buy the International Dreams way
- *Members of the AIPP
- *Full Due Dllegence on all properties
- *Independant Lawyers
- *Discounts for multi purchases
International Dreams helped us choose our perfect Egyptian home in Hurghada. Richard explained everything to us every step of the way so there were no unexpected charges and we were kept up to date with all the construction. We are Very happy with our purchase and are now looking for a second on the same development to rent outMr and Mrs Brown - Newcastle - now hurghada !