Purchasing a holiday home in Cyprus, can be a great investment. Apart from securing you a base for family holidays in a family friendly, warm and hospitable location, easily accessible from most major airports in Europe, it can also be profitable way to invest in your future. Although for many it’s nice to think of this second home as being just for family and friends, it is well worth considering the benefits of having villas for rent in Cyprus. The number of people purchasing properties in Cyprus abroad for rental purposes has soared over the last 5 years and it’s easy to see why. Villas for rent in Cyprus
The amount of rental return and rental period for your Cyprus villa is firstly dependent on its location – Paphos, Limassol, Protaras or Ayia Napa have very different seasons and peak periods for demand and also attractions, facilities, nightlife. Time of the year obviously plays a huge role (summer season being the most attractive) and finally the type of villa you offer – number of bedrooms, facilities and whether it’s a beachfront Protaras villa or in the hills of Peyia Paphos with a private pool, it will attract different types of holidaymakers. Those choosing to rent their Cyprus villa usually find that the financial gain can be considerable, after the first couple of years. If you have a mortgage for the property and are only planning to accommodate the property for a few weeks per year, rental can be a great option for contributing towards mortgage payments, not forgetting the on-going costs of owning and maintaining your Cyprus villa.
Security of Your Cyprus Villa
The majority of Cyprus holiday homes used solely by their owners tend to be unoccupied for most of the year, especially during the winter period. In Cyprus, some may even choose to spend the mild winters in Cyprus and return home during much of the summer to catch up with family and friends outside the cold seasons. Even for those lucky enough to have 1-2 months off during the summer to spend in their villa, it can still mean that the property is essentially ‘abandoned’ for up to 40 weeks per year.
Although Cyprus is notably one of the most safe and secure places in the world, and the chances are there will be no problems at all with your villa in your absence, it is a waste of potential revenue to not take advantage while you are away.
Additionally, most home-owners will pay someone to check over the property during this time, cleaning the garden and pool, especially as property management and maintenance is relatively affordable in Cyprus. Although a safe option it can be an additional unnecessary cost which mounts up, considering how little the property is being used. When you choose to offer your villas for rent in Cyprus, the cost of these services can easily be covered by the rental return and you can be happy knowing that your property is being checked regularly.
Offering your villas for rent in Cyprus can be a solid way of turning your purchases into a long-term asset. Purchasing property in a popular area with proven rental return, such as Protaras, on the Eastern coast which is always in high demand, can mean you will continue to benefit from your investment whilst still enjoy spending time in your Cyprus holiday home.