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Is is a good time to buy a property in Cyprus?

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nicolas contavelis

New Member
Veronica, I have not received your email. maybe was looking for an email with the name of Veronica?
 
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Q

qurratkhan

New Member
Cyprus is very beautiful. I was gone in summer vocation for last year and stay in Cynthiana Beach Hotel. It was very nice and I also want to buy property in Cyprus.
 
Veronica

Veronica

Administrator
Cyprus is very beautiful. I was gone in summer vocation for last year and stay in Cynthiana Beach Hotel. It was very nice and I also want to buy property in Cyprus.
Cyprus is a beautiful country, we have lived here for 13 years and hope that we will never have to return to the UK.
 
C

Cashtuber Amicash

New Member
In general, Cyprus is a great place to buy property if you want to live there or you want to buy European passport fast (it takes 6 month),but it may not be ideal for investors.
1) Under Cyprus’ citizenship-for-investment program, investors have to retain ownership of their qualifying properties for at least three years. In March 2014, the investment threshold was lowered, ushering in a lot of new property buyers who wanted passports. Now that three years have passed, a lot of people who benefitted from the program want to sell their investment properties. The number of people who will try to sell their citizenship-for-investment properties will probably grow proportionally to the number of people who bought passports a few years ago, in my opinion. This process could temper the rise of real estate prices in the country. And if that trend coincides with the forecasted rise of mortgage rates in Europe, the prices may even decline.
2) For the last few years developers have been increasing construction volumes, which might lead to an overproduction of meters. Demand might exceed supply significantly as a lot of people buy properties not for living but for Cypriot passports only.
For this reason, I recommend exercising extreme caution in the Cypriot real estate market (unless you just love Cyprus and want to make a second home for yourself there).
To my understanding, Cyprus is attractive to investors because of the low taxes set out in the law, which is precisely for this purpose, to encourage investors from all over the world to buy properties for investment in this country. Cyprus real estate investors can enjoy affordable prices and a high return on real estate, which can reach 13 percent a year. Especially considering the potential for price increases. Another particularly significant area is the island's extensive tourism. Cyprus attracts millions of tourists a year, mainly Europeans, who are leveraging the local economy and becoming perfect consumers of local real estate in the era of Airbnb.In Cyprus, real estate investments have been popular for many years among the British and the Russians.
 
Veronica

Veronica

Administrator
It is also becoming popular with rich Americans who want to get European passports. They do have to invest at least 2million but for anyone with that amount of money to invest it does ensure a gateway into Europe very quickly.
Also some rich South Africans are starting to show interest.
We have had American clients who are unhappy with the current US government and want to get out.
 
C

Cashtuber Amicash

New Member
It is also becoming popular with rich Americans who want to get European passports. They do have to invest at least 2million but for anyone with that amount of money to invest it does ensure a gateway into Europe very quickly.
Also some rich South Africans are starting to show interest.
We have had American clients who are unhappy with the current US government and want to get out.
Do you mean that they are interested in obtaining a European passport for residential purposes or is this also beneficial to investors? Thanks in advance
 
Veronica

Veronica

Administrator
They want the passports to make moving around Europe easier but also some just want to invest here for the future. With the discovery of fossil fuels in the Cyprus economic zone inthe sea the future for Cyprus looks good.
 
D

diyhelp

Active Member
When will the new found Cyprus oil/gas industry come online? Are you starting to see investors investing their funds already in readiness?
 
C

Cashtuber Amicash

New Member
The report on the discovery of the gas reservoir has already been published worldwide. Although it is expected to pass several years before it will be developed, as happens with the Aphrodite reservoir, but for investors it should not be in principle. The main thing is that Cyprus is becoming a significant factor in the gas industry throughout the Middle East.
 
L

lookinginvest

Member
Seems like a perfect storm for the Cyprus property market - oil/gas finds and investors looking to buy for residency and freedom of movement around the EU.
 
Veronica

Veronica

Administrator
since the EU gave the Cyprus banks a haircut a few years ago they are far more reluctant to lend money so for anyone who has the cash available to invest it is pretty much a buyers market as the developers are desperate to sell their properties.
 
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Longterminvestor

Administrator
What kind of discount might cash buyers be able to negotiate in Cyprus?
 
F

FWL

Active Member
If cash is not as strong today then that must surely indicate some good underlying strength in the property market and strong demand?
 
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