The study shows that the profitability of apartments on the island amounted to 3,7%. The most profit in the residential real estate market was produced by renting out apartments in Nicosia.
The highest average profit of apartments and villas is noted in Limassol.The annual yield of these types of real estate in the city amounted to 3,9% and 2,9%. Residences at an average price of 166.2 thousand euro were rented out for 543 euro a month.
Villas at an average price of 446.9 thousand euro, were offered for rent at the price of 1.09 thousand euro per month.
Experts note that in the last couple of years, the island has had a tendency for the buyers to purchase property for future residence, and not to rent it out or resale.
ReLux Estates