According to the Cyprus Department of Lands and Surveys, the number of foreign property buyers in Cyprus in August increased by 34% compared to the same period in 2016.
The Department of Lands and Surveys stated that the number of non-Cypriot nationals purchasing property in Cyprus grew by 4.2% in the first eight months of this year.
With the significant increase in tourists and the government's encouraging passport and visa policies, the real estate industry in Cyprus has flourished, and the rise in property sales has led to continuous increases in housing prices. Data from the Royal Institution of Chartered Surveyors (RICS) shows that prices for residential villas and apartments in Cyprus rose by 1.7% and 0.7% per quarter, respectively, while prices for holiday villas and holiday apartments rose by 2.2% and 2.3% per quarter, respectively.
At the same time, property rents in Cyprus are also rising rapidly. Across Cyprus, apartment rental prices increase by 1.8% per quarter, villa prices by 2.9%, retail space by 0.8%, and office rents by 4.3%.
Properties in Cyprus are freehold and have no inheritance tax. Many investors have already come to view Cyprus as one of the most worthwhile European real estate markets to invest in. In recent years, the booming tourism industry in Cyprus has driven rapid economic development, causing property prices and rents to rise accordingly. Further significant growth is expected in the future, and real estate investment is set to reach a peak. Currently, investing in real estate offers great potential for appreciation, making it an excellent time for investment immigration to Cyprus. Investing in Cyprus real estate yields more than just a property; it allows for a fast-track application for immigration to Cyprus, granting access to numerous benefits:
Top-Tier EU Status
By choosing investment immigration to Cyprus, you can quickly apply for immigration to Cyprus in one step, with the whole family obtaining EU citizenship and enjoying the generous benefits afforded to EU citizens. As an EU citizen, you can freely enter, reside, study, and work in other EU member states and European Economic Area countries (including Switzerland, Norway, Iceland, and Liechtenstein). Additionally, you gain visa-free or visa-on-arrival access to over 150 countries and regions worldwide, providing you with the most useful and convenient "travel tool."
WorldWay Expansion
For those needing global asset allocation, a Cyprus passport is an essential document. There is no real estate tax for those immigrating to Cyprus through property purchase, and the corporate income tax in Cyprus is only 12.5%, one of the lowest in Europe. Immigrating to Cyprus can help applicants maximize the avoidance of various personal and corporate taxes.
Children's Education
By immigrating to Cyprus with EU citizenship, children can enjoy free education from primary school through high school in Cyprus or other EU member states. At the same time, they can easily apply to top domestic universities and attend international schools as foreign students in Cyprus. Furthermore, if children are studying abroad, parents can also obtain a Cyprus passport to accompany and care for their children's studies and daily life.
Medical and Pension Security
Immigrating to Cyprus allows you to enjoy corresponding medical benefits as an EU citizen. Moreover, in Cyprus, as long as you reside there for at least 183 days per year, you can receive a state pension upon reaching retirement age. Investment immigration to Cyprus means securing an insurance policy for your future retirement.
Currently, investors only need to invest 2 million euros in real estate to quickly apply for immigration to Cyprus and reap all the top-tier benefits mentioned above. For more project information, please call 400-138-2929 to contact WorldWay and consult with professional experts.