In this rapidly developing era, for an individual to succeed, 'opportunity' is far more important than ability. By understanding the overall situation, strategizing effectively, and seizing every moment of 'opportunity', one can achieve success step by step! In recent years, Cyprus has shown a remarkable trend as a hotbed for investment, and those who are adept at seizing opportunities have already profited immensely.
Cyprus Residential Real Estate Prices Continue to Rise
The Central Bank of Cyprus (CBC) reports that the residential property index in Cyprus (including houses and apartments) rose by 0.6% to 75 units in the first quarter of 2018, continuing the upward trend that has persisted since the third quarter of 2016.
The CBC added that the residential property index increases by 1.8% annually.
In the First 8 Months, Cyprus Property Sales Contracts Increased by 22% Year-on-Year
According to official data released by the Department of Land and Surveys of Cyprus: In August of this year, the number of real estate sales contracts submitted to the Land Registry Office of the Republic of Cyprus increased by 21% compared to the same period last year; in the first eight months of 2018, a total of 6,016 property sales contracts were registered at the Land Registry Office, a 22% increase from 4,921 contracts during the same period last year.
As of August 2018, property sales in Cyprus have recorded continuous growth for 16 months. Paphos remains one of the most popular regions in overseas markets.
International Rating Agencies Upgrade Cyprus Sovereign Rating
In addition to the booming real estate market, the economic development trend in Cyprus is also unstoppable, prompting international rating agencies to upgrade their ratings.
Recently, the international rating agency Capital Intelligence Ratings announced that it has upgraded Cyprus's long-term foreign currency sovereign rating from 'BB-' to 'BB' and confirmed its short-term foreign currency rating as 'B'. At the same time, Cyprus's rating outlook has been affirmed as 'positive'. This means that an upgrade of Cyprus's rating may occur within the next 12-24 months.
The rating upgrade reflects several factors:
1. Sustained strong economic performance, with one of the highest growth rates in the Eurozone, exceeding previously predicted fiscal figures;
2. Satisfactory government access to international capital markets and improved fiscal management;
3. Gradually improving banking conditions.
The Cypriot economy continues its strong recovery in the first half of 2018, with real output growing approximately 4%, compared to 3.9% during the same period in 2017. Capital Intelligence Ratings forecasts a real economic growth rate of 4.1% for this year, further reducing macroeconomic vulnerabilities and placing debt indicators on a more sustainable path.
As is well known, Cyprus is a genuine maritime nation with extremely limited land resources, and available building land is even scarcer. The speedy economic recovery in Cyprus and the growth rate of property sales have attracted an increasing number of overseas investors; with the continuous influx of overseas investors, there will inevitably come a day when land resources in Cyprus are 'exhausted'. At that time, the supply and demand of housing will be inversely proportional, and the rising housing prices will become unstoppable, rendering property in Cyprus 'precious'.
Therefore, it is advised that investors intending to purchase property in Cyprus should seize opportunities and act promptly, striving to be visionary investors and not let their hesitation lead to missed investment opportunities!
Through the Cyprus Investment Citizenship Program, one can obtain a property with permanent ownership by purchasing real estate worth over €2 million, whether as a single unit or multiple units. This enables participation in the Cypriot real estate market investment, benefiting from the appreciation brought about by the rising property and economic conditions. Additionally, three generations of the family can swiftly obtain valuable Cyprus European Union passports, facilitating career expansion in Europe and the internationalization of the family's lifestyle. They can also enjoy the generous educational, healthcare, and senior care benefits that the EU offers, reaping multiple rewards.
WorldWay Group, as a leading institution in investment immigration and a top 500 Asian brand, ventured into Cyprus investment immigration as early as 2011, introducing the Cyprus investment immigration program to China and commencing an exciting journey of European investment immigration. They held the first large-scale European real estate exhibition themed around Europe, thereby creating a wave of European investment immigration in China. In 2014, WorldWay Group successfully organized China’s first investment and cultural exchange event themed around European cities, titled 'Night of Paphos', which created a sensation in the industry.
Over the years, WorldWay Group has actively promoted Cyprus and other European investment immigration projects in China, receiving high recognition and praise from the governments and institutions of Cyprus and multiple European countries, maintaining good trust, interaction, and cooperation relationships with these European governments.
Recently, Dr. Winner Xing, Chairman of WorldWay Group, and Ms. Li Ma, Vice President of WorldWay Group, were invited to visit the Cypriot Embassy in China and met with Mr. Antonios Toumazis, the newly appointed Ambassador of Cyprus to China since May of this year. Both parties engaged in warm and friendly discussions regarding Cyprus investment immigration matters. This further collaboration follows the conclusion of the 2018 China-Europe Trade and Investment Forum hosted by WorldWay Group last Saturday, reaffirming the excellent government relations of WorldWay Group.
For Cyprus investment immigration, choose WorldWay Group, making the path to immigration easier! For more details, please consult: 400-138-2929.