Buying a property or depositing via a bank in Cyprus?

Покупка недвижимости или депозит в банке Кипра?
16 November 2020 Liza Medvetskaya
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Those who receive rent from income real estate earn more money than those who have bank deposits and receive interest.

When depositors are getting crumbs, and banks offer zero or negative interest rates, those who receive rents are enjoying multiple returns. The data presented from the office of Danish International Consultants and Real Estate Appraisers reveals what is observed in the rental returns from houses, apartments, shops, offices, and cottages in all Cyprus cities. The highest rental yield can reach up to 6.5% and the lowest at 2.5%.

Покупка недвижимости или депозит в банке Кипра?

If we consider the type of real estate and its location, then the yield from the rental of objects will look like this:

Nicosia

  • houses - 3.5% -4%;
  • apartments from 4% to 5%;
  • shops from 6% -6.5%;
  • offices from 5% -6%;
  • villas from 2.5% to 3%.

Limassol

  • houses - 2.5% -3%;
  • apartments from 4% to 5.5%;
  • shops from 5% -5.5%;
  • offices from 5% -5.5%;
  • villas from 2.5% to 3.5%.

Larnaca

  • houses - 2.5% -3.5%;
  • apartments from 4.5% to 5.5%;
  • shops from 5% -5.5%;
  • offices from 5% -6%;
  • villas from 2% to 3%.

Paphos

  • houses - 3.5% -4.5%;
  • apartments from 5.5% to 6.5%;
  • shops from 5.5% -6.5%;
  • offices from 5.5% -6.5%;
  • villas from 3% to 3.5%.

Experts note that it is straightforward to find out the profitability of real estate.

All you need to do is multiply the rent by 12 and divide the purchase price by that amount. The result will show the "dirty" annual yield of the property.

Since you should consider the costs that the owner may face during the delivery of his property, these include repairs, wear and tear of furniture and breakdowns of electrical appliances, various property taxes, and municipal expenses. And, of course, evil tenants, which, unfortunately, are not uncommon in Cyprus.

Source: philenews.com
Photos: pixabay.com
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