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Why Invest In Cyprus Property

Why Invest In Cyprus Property

Attractive Investment Opportunity

Cyprus is considered to have one of the fastest growing real estate markets in the European Union. In the most sought after areas prices are increasing by an average of 20% annually. Even with the increase in property values, Cyprus still has some of the lowest prices on properties in Europe. The recent discovery of oil and natural gas near the coast of Cyprus will boost the economy even more over the next decade making Cyprus one of the most attractive countries for investments and relocation in the area. Huge projects have been undertaken in recent years with new Ports and Marinas, 5 star holiday resorts and the pending Casino Resort which will be one of the biggest in the area. Ongoing construction and improvements on existing facilities make Cyprus a very popular country for future investments. Apart from the natural beauty of the island, the Mediterranean Sea, the exceptional weather and the hospitable Cypriots, the island has a lot to offer when it comes to investments as well.

 

Tax Incentives for Purchasing Real Estate in Cyprus

The new regulations pertaining to foreigners purchasing real estate in Cyprus and the new tax incentives make it easier than ever to buy property on the island. There are no restrictions as to who can buy property, as long as you have the funds, do not have a criminal record and satisfy the Council of Ministers that you are financially secure, permission will be granted for you to purchase a home in Cyprus. The added bonus of being able to get Cypriot citizenship by investments is another big draw, because this can be done in a few months and automatically makes you a citizen of the European Union. With an investment of €2,000.000 of which €500,000 is used for a private residence you could be on a fast track to becoming a European citizen. With discounted VAT for first time purchases of property and discounted transfer fees, the Cypriot government has gone a long way in attracting big investments to the island. The Double Taxation Treaty that Cyprus is a part of is another attractive tax saving that has worked to attract even more foreigners to relocate to Cyprus.

 

 Properties in Cyprus
Whether you want to purchase a small holiday apartment or buy a mansion in Cavo Greco, Cyprus has a huge variety of luxury superior quality homes for sale. The cost of a residence in Cyprus has remained lower than a lot of other countries in the European Union, and you cannot beat the location of some of them. If it is seaside that you are looking for, you will pay more, but nothing can beat waking up in the morning to the sound of the Mediterranean Sea. With stunning sea and mountain views the island has a lot to offer with properties varying in price from €90,000 to €3,000,000 or more, it depends on what you are looking for, but rest assured there is definitely a suitable property available for you, whatever the circumstances.
All that is left to say is Welcome to Cyprus, you cannot beat all the benefits and quality of life the island has to offer.

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