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Have you ever wondered why most people choose to buy a house and most specifically in Famagusta?
First and foremost, why would someone prefer to buy rather than rent? The reasons may vary significantly between people since people may have different needs and wants. There are though, some strong arguments why buying is better and these are just some of the reasons that make most people keen to buy.
Whether people see themselves living there in the long term or they just prefer to invest their money, these are some major benefits of buying a house or property:
- Pride of ownership. No argument here. The feeling that you own the place is unique and gives you a sense of stability and security. This is definitely one of the most important reasons as to why most people prefer to own a house or property.
- Property or house value appreciation: Usually and from what the past has shown, property prices tend to go up rather than down. Although there is no guarantee, buying a property is considered a very safe and solid investment especially if you invest wisely.
- Invest using a loan. Unlike any other type of investment, buying a house is most probably the only investment banks are willing and eager to loan out their money. Not forex investment, not business investments. This alone speaks volumes as to how safe of an investment property buying actually is.
The basic question is not if you should buy but “Where should I buy my house or property”? The answer is really simple. Invest now in Famagusta without any hesitation.
Why should you choose to invest in Famagusta?
7 good reasons to buy a house or property in Famagusta:
1. Beautiful scenery
Cyprus is one of the most beautiful islands in Europe and probably the world. Famagusta is considered to be the most attractive place to live in Cyprus for both locals and tourists.
2. Hottest holiday destination
Famagusta is considered to be one of the most attractive holiday destinations with the most beautiful beaches all over Europe if not the world. There are 26 beaches with a Blue Flag certification located in Famagusta. Some brilliant examples of beaches with crystal clear waters that have been awarded the famous blue spots award are: Fig Tree Bay, Pernera beach, Makronisos among many more.
3. Micro and Macroeconomic factors
Famagusta is not depended entirely on foreign investments or tourists. As we have seen recently, wars could happen but also a pandemic that could discourage tourists from travelling abroad. Although this should not be taken into account in the short term, these things happen and your property could lose value. In Famagusta, this is not the case simply because it is not just a tourist area but also the biggest attraction for domestic tourism as well.
4. Investment Opportunities
Cyprus economy is based mainly on the service sector and the low corporate tax rate of 12.5% attracts many investors since it is one of the lowest rates in the European Union. This has caught the eye of multinational businesses who have established their work base in Cyprus.
This in effect creates sustainable growth which in turn has created a boom in the market demand for rent and real estate.
To spice it up a notch, do not forget the brand new luxurious Ayia Napa Marina located in Famagusta area, which is already attracting foreign investors and multimillionaires who choose to come for a holiday.
Definitely a great investment opportunity!
5. Safety and hospitality
Regarded to be one of the safest places to live. This is a very important factor to consider if you are interested in buying a house and especially if you want a home for your family. You will be pleasantly surprised by the local community of Famagusta that is famous for the hospitality and very tourist friendly attitude.
The locals have learned to coexist in peace and harmony with the foreigners for many years and those that choose to move in this spectacular, beautiful and graphical place do not regret it.
6.Quality of life
People living in all other areas of Cyprus dream of their summer vacation in Famagusta and it’s no wonder that prices for rent during the holiday period are almost always unreachable especially in August. Tourists spend a fortune to visit Famagusta as it is once in a lifetime experience and you could have this benefit all year long if you are fortunate enough to buy a house in this area.
Famagusta has really all the necessary amenities at a foot distance which always gives the opportunity to have a more convenient lifestyle without the unnecessary big city fuss.
The rhythms are slower and you will get the feeling of relaxation and fresh air in no time while not giving up any of the luxuries of the modern cities.
7. The weather
In Famagusta, it is sunny almost all year round. This is a fact and given that Famagusta is surrounded by so many nice beaches you wouldn’t want a rainy day spoiling the fun.
Hope this brief article has inspired you to start your journey. Let the house hunting begin!