Cyprus, as one of the popular tourist destinations in the Mediterranean, is highly favored by investors. In recent years, Cyprus has achieved comprehensive and sustained GDP growth, with the real estate market and EU passport being highly sought after by domestic investors.
The tourism industry is booming, with the number of visitors to Cyprus reaching a new high in the first half of the year
According to the latest data from the Cyprus Statistical Service, from January to June 2018, the number of foreign tourists visiting Cyprus reached 1.645 million, an increase of 12.4% year-on-year, once again setting a historical high. Among them, in June, the number of foreign tourists was 511,000, an increase of 8.2% year-on-year. Compared to the same period last year, the number of Chinese tourists visiting Cyprus in the first half of this year increased by 14.1%, accounting for 0.13% of the total number of visitors to Cyprus.
According to data released by Hermes Airports, from January to July 2018, the passenger traffic at Cyprus's Larnaca and Paphos international airports grew by 8% year-on-year, reaching nearly 6 million. In July alone, these two airports received 1,414,954 passengers, an increase of 3.8% compared to 2017.
According to the Financial Times, Cyprus's tourism industry has been recovering over the past two years, welcoming a record 3.65 million visitors last year, and it is expected that the number of tourists will increase in 2018.
The Cypriot economy is booming
In addition to the surge in the number of tourists visiting Cyprus, the Cypriot economy is also experiencing rapid growth. Earlier, a spokesperson for Cyprus stated that with the acceleration of economic progress, it is expected that Cyprus will achieve full employment in two to three years. The GDP and economic growth rate for the first quarter of 2018 released by the Cyprus Statistical Service indicate that the economic dynamics of Cyprus are good, with a potential growth rate of 4%. Recently, the Central Bank of Cyprus also raised its economic growth forecast for 2018 from 3.9% to 4.1%.
Real estate transaction volume continues to rise; those looking to buy property in Cyprus should act quickly
With both tourism and the economy booming, the investment potential in Cypriot real estate is evident, especially driven by the surge in European property immigration. The Cyprus Land Registry reported that the number of real estate transactions in the first half of 2018 increased by 24% year-on-year, reaching 4,470 transactions. It is foreseeable that as the volume of real estate transactions continues to rise, property prices will also increase. Therefore, investors interested in buying property for immigration to Cyprus should act promptly.
Investing in Cypriot real estate yields multiple rewards
Investing in Cypriot real estate valued at over 2 million euros (whether one property or multiple properties) not only grants permanent ownership of the property but also allows the entire family to quickly obtain a Cyprus EU passport, enjoying numerous benefits, such as seamless access to world-renowned schools like Oxford and Cambridge for children's education; enjoying a favorable tax regime in a tax haven for overseas investments; and providing additional security for parents' retirement.
Furthermore, holding a Cyprus EU passport allows for free movement, work, and residence in 28 EU member countries (including the UK, Germany, Austria, Italy, France, Finland, etc.) and 3 member countries of the European Economic Area (Norway, Iceland, Liechtenstein), as well as Switzerland, totaling 32 European countries, enjoying the generous benefits of EU citizenship, 1=32!!!
WorldWay Immigration Group - Pioneer and Leader of the Cyprus EU Passport Project
In 2011, introduced the Cyprus property immigration project to China, starting an exciting journey of investment immigration in Europe
In 2014, successfully held the "Paphos Night" event in Beijing and Shanghai, the first investment and cultural exchange event in China themed on European cities
Choosing WorldWay Immigration for obtaining a Cyprus EU passport makes the immigration process easier!
For more details, please consult: 400-138-2929.