Why do people around the world invest in real estate in Cyprus?
Why do people around the world invest in real estate in Cyprus? The Republic of Cyprus, is a fruitful and solid island, not only for businesses and companies but also for investors. Wise people, who have recognized the potential of it and are looking to invest in real estate as well.
Cyprus, not only is it a member of the European Union, the EU is a modern and progressive country with political stability, a solid economy and extremely impressive growth rates. There is broad consensus among analysts around the world that economic growth in Cyprus is likely to continue for another good year. The economy of Cyprus, relies primarily on the productive and prosperous tourism industry, millions of tourists each year, well-developed trade and commerce – as it is an attractive destination for investment and international companies due to low tax rates as well as provides highly developed international banking services and is a very attractive market.
Cyprus real estate investment is the most lucrative, secure and profitable because...
- Location, climate and tourism – The island is nestled in the Mediterranean waters along its magnificent and magical beaches with Mediterranean weather, which attracts millions of tourists from around the world for most of the year.
- Tourist season – Cyprus is a longer tourist season than anywhere else in Europe. In other words, this has a significant impact on the potential annual return on property.
- Casino – Construction of the largest casino hotel in Europe that will make Cyprus a global gambling power, Europe’s “Las Vegas” which will include: 136 gambling tables, 1200 slot machines, 500 rooms, 11 restaurants, shops, sports and health centers, Amphitheater and more … and, as of June 2019, a temporary casino will open and during this year another 4 small casinos will be opened.
- Europe’s Largest Water Park – Construction of the largest and most attractive water park in Europe is expected to begin soon, which will be a tourist attraction.
- EU membership – Cyprus A member of the European Union and national currency is the euro, a stable currency.
- Eligibility for Cyprus Resident Certificate – An investor who purchases property in the island worth around € 300,000 and is over 25 years of age and without a criminal record, is entitled to obtain a resident’s certificate and for his immediate family, namely: wife / spouse and their shared children. It should be emphasized that the island resident’s certificate does not require actual residence in Cyprus.
- Citizenship in Cyprus – An investor who invests about € 500,000 in a home purchase in Cyprus and who, in addition, will invest in business / real estate in the island worth of around € 1.5 million can apply for Cypriot citizenship that also gives him European citizenship.
- Multiculturalism – Cyprus has a profound influence of the British, who ruled it until 1960 since then driving is on the left side of the road as in England. At the same time, there is a Mediterranean environmental influence, both Greece and Turkey, as well as many investors and citizens of the world who have moved their center of life to it: Israelis, Russians, British, and from Europe and the rest of the world
- Cheap housing prices – Housing prices in Cyprus are low and are also considered very cheap and attractive.
- Prosperous Real Estate Island – The attractiveness of the location and the growing economy in Cyprus have led to a resurgence and growth and demand for real estate investment in the island. Data has recently been released showing that the value of building permits granted in January-February 2019 amounted to € 282.6 million, a 15.6% increase over the same period last year. In addition, the total area for construction increased by 22.4% and reached 284,930 square meters, while the number of apartments increased by 23.9% this year. Therefore, in Cyprus you can find many attractive investment opportunities.
- Good opportunities for the smart investor – Guaranteed return on investment – All over Cyprus you can find excellent real estate investments and in the holiday and tourism areas in particular you can find the most lucrative real estate deals: purchase / construction / rental. With a half-room apartment in Tel Aviv / New York / London etc. you can purchase a luxury villa in the most touristic and desirable area that can serve both as a vacation home for you, and yield the highest return during the year from renting to tourists / business people on Airbnb and more …
- Low tax environment – taxation in Cyprus is one of the lowest in the EU. The corporate tax rate is 12.5% and there is no tax on capital gains and dividends. In addition, the property purchase tax is rated and depends on the value of the property and can range from 3% to 8%. Therefore, Cyprus is an attractive target, both for the investment of global international companies such as Microsoft Worldwide and Israeli Amdocs, moreover, for private investors and private companies.
- High Yield – The estimated return on rental property in Cyprus is up to 10% per annum, this is without taking into account the rise in value of the apartment.
- Registration of property ownership – the property is registered in Kushan, which is the same as the registration in Tabu. In other words, in order to prevent cases of fraud, it is mandatory to make a proper registration of ownership of the property in the authorities.
If you also want to invest in real estate in Cyprus we are here for you, leave details or pick up a phone and our representative will be back to you soon.