Cyprus Offers a World of Opportunities to Property Investors with EU Citizenship Scheme

By HopwoodHouse, 29 November, 2017

In recent times, Cyprus has been working towards making itself an attractive place for property investors, seeing a recent surge of interest from all around the world, as well as showing significant promise to GCC buyers. With areas of Cyprus having such international appeal, investors from Russia, China, United Kingdom and the Middle East are turning their heads to see exactly what Cyprus has to offer them.

Why does Cyprus Appeal to Foreign Investors?

As well as offering a citizen-by-investment programme, of which will see the individual issued an EU passport within 3 months of their investment of at least €2 million, Cyprus is extremely appealing to many investors from different parts of the world. The country is ideally located for international business for a number of reasons, including the time zone and the fact that there are regular flights from major cities all around the world. Many areas of Cyprus have also seen prices begin to rise and the country’s economy is likely to experience a boom in the near future due to its work with energy.

Many areas of the country have interesting cultures and tourist attractions, and of course benefit from the world-renowned hospitality of the Cyprian people. Not only can the investors benefit from this and enjoy their overall investment experience in such a delightful country, but it also means that their investment is almost certain to be a success, with plenty of appeal to those looking to take advantage of their property.

Property Investment in Cyprus                                                                      

Cyprus offers a very attractive and flexible purchasing process to investors, especially when compared to many other countries. EU citizens and Cypriots alike can benefit from limitless buying capabilities, with no stipulation as to what they can buy or how much they can buy. International businesses can purchase property for their business or for their employees, and non-EU citizens can also make purchases of up to 4014 square metres.

On the properties for sale in Cyprus, there is a 20% rate of capital gains tax applied to any profits made from the sale, excluding the first €17,086.01 for individual property owners, and €34,172.03 for couples jointly owning their property.

The Cyprus Property Market

2017 was a big year for Cyprus, seeing promising changes to its property market, including rising property prices in many of its cities. Properties for sale in Limassol, Larnaca and Nicosia saw big increases, whereas Paphos and Paralimni also experienced smaller increases to its property prices. The rental values also increased throughout Cyprus, with average increases of 1% for houses, 3% for apartments, 3.7% for offices, 2% for retail properties and 0.7% for warehouses.

Such increases are expected to continue in the coming years, with industry experts predicting that Cyprus is to make its mark on the global property investment market, offering fantastic opportunities and returns for all kinds of investors. As the country’s property market is beginning to rise, investors can still take advantage of some fantastic properties in Cyprus, adding a new dimension to their investment portfolio.