Selling Cyprus Property Trends

  • FSBO by FSBO
  • 6 months ago
  • Cyprus
  • 0

Have you considered buying property in Cyprus online? Do you want to sell your property in Cyprus fast? Regardless of your motivations, you will probably want to know about the buying and selling property trends in Cyprus.


First, let us understand why Cyprus has become such as popular overseas property destination and why there are so many cash rich overseas buyers who are eager to invest here.


Cyprus caught the attention of cash rich overseas investors about a decade and a half ago, when it emerged that an increasing number of British expats were buying second homes or retirement homes there.


Today, an estimated 80,000 British expats live in Cyprus, attracted by its picture perfect climate, perfect beaches, beautiful natural surroundings, friendly locals and relaxed lifestyle.


Cyprus has also emerged as a top business and commercial centre. It boasts of some of the lowest taxation rates in the European Union. A number of small business owners or online business owners have moved to Cyprus since its ascension to the European Union in 2004, attracted by the island’s low rate of taxation.


Cyprus has emerged as an attractive alternative to Spain, which has become too crowded with tourists and has experienced the sort of over development that puts off those who want to have a quiet time when on a holiday.


Cyprus is also an alternative to France, which has an atrociously high rate of taxation. A number of British expats have realised that Cyprus is the ideal place to buy a holiday home, which offers a quiet and relaxed lifestyle, with lovely beaches and stunning natural scenery, while having all the modern amenities that one expects to get from a modern European nation.


Indeed, many British expats who want to escape the tax burden back home in the UK, not to mention the horrible climate, find Cyprus to be the ideal place to live, earn a decent living and set up a business. Cyprus is hence an excellent alternative to the jaded overseas property markets in the western Mediterranean.


The country boasts of two modern international airports in Paphos and Larnaca, which are well connected by flights to all major cities in Europe. The country has a world class motorway network. There are dozens of first rate golf courses in Cyprus, and thousands of luxury properties for sale.


The financial institutions in Cyprus were quite primitive as recently as in the 1990s, but have undergone a complete transformation since then. Cyprus has modern banks, which sustain the property market here with cheap mortgages and home loans. Now, although the banks here lost a lot of money during the global economic crisis of 2007-2008, they have largely recovered since then.


The government has done its bit to encourage investment from cash rich overseas buyers by offering schemes such as the Golden Visa, which promises residency permits and a right to travel across the Eurozone to non-EU investors who buy properties worth at least €250,000 here. That’s why there are a number of high net worth Chinese and Russian investors who have bought properties in Cyprus.


Contact us today to buy or sell property in Cyprus fast.


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