Rental yields in Cyprus and Greece are consistently reaching all-time high levels thanks to interest from overseas.
Yields across some of their most popular destinations and developments are consistently reaching between 3% and 5%.
British purchasers have had a significant impact on the market, though since Brexit, those purchasers without EU residency have had limitations on the length of time that can be spent in either Greece or Cyprus.
Many Brits have therefore resorted to renting out their homes when they are not in use, while those purchasing purely as a rental investment can still use their homes for two weeks of the year.
Pantelis Leptos, co-president of Leptos group of companies, said: “Rental yields across popular Greek and Cypriot developments and destinations offer consistent and appealing returns.
“These returns have been a catalyst for international investors to buy second homes in Cyprus and Greece as they seek to capitalise on steady rental income.”
In 2023, 10% of Leptos estates’ sales were to British buyers.
Popular developments and destinations include the Akamantis Gardens development in Paphos, Cyprus where a three-year rental guarantee a 5% yield.
Meanwhile the Mandria Gardens development, located in Mandria, will generate a 4% yield for a five-year rental (Block of 6 apartments for €1,647,000 + VAT) and Coral Bay Villas in Coral Bay offers a 3% yield for a five-year rental. (Package sale of 4 villas for €2,682,000 + VAT).
In Greece, the highly sought after Molos Beach Village in Paros will generate rental yields of up to 3% over a three-year rental.