Hi Alex,
While I agree that the prices of property here in Cyprus are stable I cannot agree that rental income is steady.
There is a glut of rental property on the market with many many properties empty for most of the time.
I know of many people who have bought over here having been told by developers that rental income will cover their mortgages only to find themselves in financial difficulty with properties they cannot rent, unable to cover the cost of mortgages.
If you need to rely on rental income I would suggest that you think twice before buying yet.
I am probably shooting myself in the foot by saying this as I sell property here in Cyprus but my main concern is to stop people making expensive mistakes. Do not allow developers to talk you into buying with promises iof renting it out for you. It dosnt happen, and rental companies have so many properties on their books chasing too few people.
Whatever your decision I wish you luck with your future plans.
If you have any questions feel free to contact me and I will try to help you.
Kind regards
Veronica
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