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14.01.2019

Real Estate in Cyprus 2018

Following the market collapse in 2013, property sales in Cyprus continue to record growth for the fifth consecutive year, while foreign investment in real estate is also picking up. According to the statistics issued by the Department of Lands and Surveys (DLS), the number of registered contract of sales nationally filed at the DLS during 2018 reached its maximum of 9242 compared to 8734 in 2017, representing an uplift of 6% in total.

The citizenship and permanent residency schemes have played a catalytic role in the attraction of foreign investors from non-EU buyers (Chinese, Russian, Indian and UAE) to the real estate market of Cyprus. In addition, there have been  several other incentives and measures launched by the Cyprus Government such as

  • the exception of transfer fees,
  • the abolishment of immovable property tax,
  • properties exempted or subject to reduced VAT and
  • Town Planning incentives.

Apart from the government’s schemes encouraging direct investments in Cyprus, other factors which contribute to the growth include:

  • Increased levels of demand from the domestic housing market driven by an improved consumer sentiment and employment.
  • Increased supply of new housing stock for both foreigners and locals.

 

Check here the properties available in Aphrodite Hills Resort. If you would like to receive more details to learn about the available properties which fit the criteria for obtaining citizenship and permanent residency, please, call us at  +357 26 828 050 or send us an email at realestate@aphroditehills.com.

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