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Middle East is moving to Cyprus

Middle East is moving to Cyprus

They say that one man’s food is another one’s poison, this is unfortunately true when you consider that many Arabs from Syria and Lebanon have fled their war torn countries seeking a safe haven in nearby Cyprus which is only 130 miles away. This has been happening with the Lebanese since their civil war in 1975, with the result being, a huge community of Lebanese nationals living in Cyprus. The lucky few that have the means to buy second homes have taken advantage of the strategic position of Cyprus and when there is turmoil in their countries, a quick flight of less than an hour sees them safely settled and in Cyprus with their families.

Chinese Investing in Cyprus Real Estate Market

Chinese Investing in Cyprus Real Estate Market

Thousands of properties have been purchased by Chinese relocating to Cyprus, with over 80% settling in Paphos. Fairly new settlers on the island, the Chinese have shown an interest in investing just under €300 million in developments in Paphos over the next few years. The Chinese are mainly interested in seaside properties and the new developments at the Marina in Limassol and the unspoilt northwest Akamas peninsula in Paphos has attracted a lot of interest from the Chinese who are looking to purchase luxury residential homes near the sea. When it comes to Commercial properties Limassol offers many high end commercial real estate that also seem to be a big draw for the Chinese.

Russians Escaping to Cyprus

Russians Escaping to Cyprus

The Yeltsin era saw many Russian nationals buying property and settling in Cyprus. Most of the Russians came to Cyprus in the 1990’s and today we count over 80,000 people of Russian origin living in Cyprus, predominantly in Limassol. The Cypriot people in general have always been friends of the Russians, dating back to the time of Makarios. The fact that most of them belong to the Orthodox Church has also helped to cement relations between these two nationalities with many Russian nationals feeling very at home in Cyprus. Limassol now boasts 3 Russian speaking schools with over 600 students and many Russian businesses have opened in and around Limassol to cater for the Russians who have chosen to make Limassol their home. Cyprus has also become a favorite destination for Russians tourists. Visas are easily obtained through the Cypriot Embassy in Moscow by email and there is no charge. In 2016 a record number of over 3 million tourists arrived in Cyprus. Of these nearly 1 million were from Russia, a marked increase from previous years.

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