Cyprus has taken first place in a global ranking of the most attractive countries for purchasing holiday home property, ahead of Australia, Malta, Italy, and Greece. The results of the study, published by Compare the Market, a mortgage lending division, are based on a comparative analysis of more than 50 popular holiday home buying destinations worldwide.
The ranking was based on a composite index that included such factors as climate, residential property prices, the number of available entertainment options, restaurants, and overall comfort for living and recreation. Based on the analysis, Cyprus scored 8.25 out of 10, the highest score among all the countries in the study.
Reasons for Cyprus’s leadership
Experts note that Cyprus combines several factors that make it particularly attractive for purchasing resort residential property. The island is renowned for its rich historical heritage, closely linked to ancient Greek mythology, picturesque beaches, mild climate, and developed culinary culture.
One of the key advantages was the high number of restaurants—534 establishments per 100,000 residents. An additional advantage was the low level of precipitation: the average monthly rainfall is about 31.9 mm, ensuring comfortable weather throughout most of the year. Cyprus also ranked among the top ten countries for the number of available activities, with 334 leisure options per 100,000 people.
The relative affordability of residential property played a significant role in Cyprus’s high ranking. According to the Organisation for Economic Co-operation and Development’s (OECD) Real Property Price Index, the country scored 99.6, indicating more reasonable prices than many other popular destinations.
Financial considerations remain a key factor when choosing holiday properties, particularly for buyers considering one, two and three-bedroom properties for both personal use and rental income.
Other countries in the top five
Australia took second place in the ranking with a score of 7.46. The country received high marks for its natural diversity, unique fauna, famous landmarks, and beaches. Australia also performed well in climate indicators, including average rainfall and comfortable temperatures.
Malta took third place with a score of 7.11. The island nation demonstrated a high number of entertainment options—414 activities per 100,000 residents—and favorable weather conditions.
Italy ranked fourth with a score of 6.91. The country received high marks for its relatively affordable housing prices and well-developed restaurant infrastructure, with 487 establishments per 100,000 people.
Greece rounded out the top five with a score of 6.76. Its high scores for entertainment and restaurants are complemented by a rich cultural heritage and diverse islands, making the country consistently popular among resort property buyers.
Financial planning and investment approach
Market experts emphasize that purchasing resort residential property is not only about choosing an attractive location but also a well-considered financial decision. Property availability, climate, infrastructure, and lending terms directly impact the long-term effectiveness of the investment.
Comparing mortgage offers and understanding financial options allows buyers to more accurately assess the prospects of purchasing a property, regardless of whether it is planned for holiday use, rental, or a combination of both.
