The summertime in Cyprus is not traditionally the time to hunt for a new property – the visitors that are arriving hot and sticky on the tarmac at Larnaca and Paphos airports at the moment are coming for the sun, the sea and the inimitably excellent holiday spirit in Cyprus.
However, the real estate agents that we’ve been speaking to on the ground in Cyprus advise that property in Cyprus enquiries increase now ready for the influx of potential property buyers from September onwards…so if you’re contemplating a move to Cyprus or an investment into Cypriot real estate, you should get in ahead of the wave and register your interest today.
It’s a well known fact that property markets are cyclical – take the UK for example, there’s a boom, there’s a bust, there’s stagnation and then there’s a boom again – and this cycle can drag on for decades rather than weeks or months! But when it comes to property in Cyprus – both North and South – there are certain months of the year when buying activity is most intense.
For example – the Easter break is traditionally a time for those seeking a holiday villa in Paphos or an apartment on a development with communal facilities in Larnaca for example. The Easter school holidays see family groups coming out to view property for sale in Cyprus with a view to purchasing it by the forthcoming summer holiday break or for buying off plan for school holidays in the future for example.
The summer is not a good time to view and buy because it is just so hot and construction activity ebbs away because of the intense heat – additionally it’s traditional for all Cypriot families to take extended breaks in mainland Greece or Turkey for example as well as for families in Cyprus to host their international cousins…
But it’s just about now that property in Cyprus enquiries begin flowing in ready for the second wave of buyer interest that starts in September.
The estate agents that we’ve been speaking to in North Cyprus and in the Republic of Cyprus are in agreement for once - the months from September to Christmas are quite possibly the busiest time for these guys because the weather is still stunning but far cooler and the kids have gone back to school meaning that parents can travel alone, retirees can travel in peace and investors can travel unhindered by backpackers or children with inflatables!
Because real estate agents are so busy in Cyprus during these forthcoming boom times, we would recommend that you begin searching hard and lining up your own appointments sooner rather than later so that in the Republic of Cyprus you can get in ahead of the introduction of increases in VAT and the euro in 2008 and so that in North Cyprus you can take advantage of the still incredibly low prices for property that are gradually being inflated by the strength of the location for resales and tourism.
