Cyprus is seeing rising interest from international property investors, according to overseas property website TheMoveChannel.com According the website foreign buyers returned to the island’s property market at the end of 2016, with enquiries rising 22% in the second half of the year. Enquiries fell back at the start of 2017, but buyers are now showing signs of returning in greater numbers.
In real terms, enquiries for Cypriot property rose by more than half in the first three months of 2017 compared to Quarter 4, 2016. Cyprus accounted for 3.03% of enquiries, its highest share in two years.
TheMoveChannel.com Director, Dan Johnson, says, ““Foreign demand for Cypriot real estate is showing signs of strengthening again in 2017. Interest climbed in the final months of 2016, possibly fuelled by buyers racing to beat the deadline for a Capital Gains Tax incentive at the end of the year.
“Interest softened at the start of 2017, but enquiries have grown once more in March, without the impetus of the tax deadline. With prices bottoming out and climbing across almost all regions, according to multiple indices, conditions in the island’s market are certainly improving, which is beginning to bring back investors.
“The island’s Golden Visa scheme is also helping to drive recovering demand, with buyers on TheMoveChannel.com particularly interested in citizenship investment opportunities.”
Golden Visa Cyprus
Applicants can secure permanent residency in Cyprus through investment in real estate. The programme is one of the fastest and simplest investor visa programmes in Europe. It requires investment of just €300,000 into property to gain the Cyprus residency permit.
The residency visa is granted within two months and covers the whole family. It includes parents of both the main applicant and spouse plus dependent children up to the age of 25. It is valid for life and can be passed down to dependents and spouse.
Get Savvy when buying a property in Cyprus
Cyprus is offering some outstanding bargains but like buying in your country you need to seek independent legal representation. All estate agents are required to be members of the Cyprus Real Estate Agents Association (CREAA).
Nick Marr Homesgofast.com founder
“Always make sure you check an agent’s registration, as unfortunately, there still are some individuals and companies trading in property illegally. You can also check on the Association of International Property Professionals website to see if a company or legal advisor are members of the AIPP
More Cypriot buying advice from UK government
Are you looking to buy property in Cyprus ? Limassol , Nicosia , Paphos , Famagusta , Peyia
Are you looking to rent property in Cyprus ? Protaras , Limassol , Larnaca , Paphos , Pissouri
Author
Caz McDonald