Cyprus And Greece Rental Yields Reach Record Highs

Leading Greek and Cypriot real estate developer Leptos Estates reveal that rental yields in both Cyprus and Greece are consistently reaching all-time high levels as international purchasers let their holiday homes across sought-after destinations. The developer reveals that rental yields across some of their most popular destinations and developments are consistently reaching between 3% and 5%.

British purchasers have spearheaded the international investment into properties across Greece and Cyprus in recent years, seeking out beautiful holiday homes in amazing locations. 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, whilst those purchasing purely as a rental investment can still use their homes for two weeks of the year or if they’re property is in use can opt for a similar unit within the Leptos portfolio for the same period.

The rental yields achieved from these holiday homes are so consistent and impressive that more homeowners are renting out their vacation properties. After seeing the rental returns being made on these homes, more investors are purchasing within popular destinations with the foresight to rent out their properties to generate impressive income. This has boosted the overseas sales traffic within popular holiday destinations in both Greece and Cyprus. In 2023, 10% of Leptos Estates' sales were to British buyers.

Among these buyers, the preferred property types were 2-bedroom apartments for holiday use and 2-3 bedroom villas for permanent residences with typical locations favoured by Brits being the coastal areas.

Many overseas purchasers cite the diverse potential of their properties as a key factor behind their investment. Whether purchased as a holiday home or purely as investment/ income generator, Cyprus and Greece remain some of the most popular holiday destinations with YouGov revealing that Greece is the second most popular overseas destination for Brits in 2024.

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. Sitting comfortably between 3% and 5%, purchasers can enjoy a passive income on their homes when they are not choosing to holiday there. 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.

“Leptos Estates provide a rental team that takes care of all aspects of the rental process, creating a seamless and stress-free process when letting a holiday home. Owners feel assured that their homes are being handled with utmost care and attention whilst reaping the benefits of rental income. From posting the unit on various rental portals, including its own’ Resitours’, doing the check in/check out/maintaining the unit etc.“

Leptos Estates is the leading provider of new homes in Greece and Cyprus. For more information contact Leptos Estates by visiting www.leptosestates.com.