There is a huge demand for properties in Cyprus from Chinese investors. The latest news from Cyprus is that the island has recently become one of the ten most popular overseas property destinations for wealthy Chinese nationals.
The Chinese property portal Juwai.com talks about the increase in interest in Cyprus from the Chinese community. If you are keen on selling overseas property fast in Cyprus, you can now sell it at a premium to Chinese buyers.
What do Chinese buyers like about Cyprus? Obviously Cyprus is one of the most naturally beautiful places in the world. There people of Cyprus are a warm and friendly lot, always good to tourists. The place is quite advanced, has excellent infrastructure and world class amenities and yet features a laid back lifestyle.
There are spectacular beaches in Cyprus everywhere you look. There are a plenty of opportunities for water sports such as snorkelling, scuba diving, rafting and more. The island has a bright Mediterranean climate for much of the year.
The most important reason for Chinese nationals to prefer Cyprus over other equally beautiful regions such as, say, Cape Verde, is the promise of residency permits for buying properties in the country worth at least 300,000 EUR. Cyprus is a member of the European Union, so as you can imagine, this is a major benefit.
The scheme is Cyprus’ version of the Golden Visa which is also offered in Portugal, Spain and Greece. It has aroused a lot of interest from cash rich Chinese and Russian buyers in particular.
Most Chinese rich dream of staying in Europe. A Cyprus Golden Visa grants them a permanent residency of an EU member state. This gives them extensive rights to travel across the European Union – to any country within the Eurozone that is subject to the Schengen Agreement.
The Cyprus Golden Visa is popular not only with the Chinese, but with many other nationalities. Russians have been investing in Cyprus in a big way lately. There are many flights that connect Moscow and St. Petersburg in Russia to Cyprus. Russians are keenly interested in the island nation because of its connectivity with Russia, low cost of living and relaxed lifestyle. Yes, they like the Golden Visa too.
Savvas Vergas, the Mayor of Pafos explains in an interview with The Guardian why his city has been so effective at attracting Chinese buyers: “It’s a very quiet place with very little crime, and it’s different from Chinese cities because its character has been kept intact. There are nice green areas and mountains nearby.”
He adds, “The Chinese also believe Pafos has a good future. Over the next 10 years there are plans for a new marina, a new port and a network of new roads around the city. In 2017, it will be the cultural capital of Europe. They believe it’s a good investment.”
The Golden Visa program has a massive boost to Cyprus real estate sector just when it needed it the most. Cyprus is still recovering from the after effects of the recession of 2008-2009. This certainly presents a great opportunity for those interested in selling overseas property quickly in Cyprus.
Contact us today to sell your property in Cyprus fast and free from stress.