The Cyprus real estate market is regaining the interest of foreign investors and becoming more attractive than it was a decade ago. The Cyprus Citizenship and Permanent Residency programmes promoted by the government plus a combination of legislative changes and tax reforms, create solid investment opportunities in a secure and business oriented environment.
Tourism-related projects are very popular and constitute prime investment assets. Evidence of this, is the number of foreign investors closing multi-million Euro deals, acquiring hotels and shopping malls in Limassol, Nicosia and Paphos.
Residential and commercial property sales showed a significant increase, mainly due to foreign individual buyers and international companies establishing their offices on the island. Limassol and Paphos are leaders in the real estate market, a trend that will continue for the years to come.
Multi-billion projects are on the way and in combination with the reforms in the banking sector as well as the reforms in relation to property transfer fees, VAT and capital gains tax, the issuance of title deeds and the political stability are boosting the real estate market proving the confidence and trust foreign investors place in Cyprus.
Moreover, immigration experts rank the Cyprus’ Citizenship by Investment programme amongst the top ten worldwide, attracting investors coming from Russia, China and the Middle East.