The enthusiasm of Chinese people for real estate seems to be more persistent than anything else. Nowadays, people's perception of housing goes beyond just being a "home" or "residence". With the development of the times, more and more investors view real estate as an asset and a means of investment. Many high-net-worth individuals have turned their investment focus to overseas real estate markets. Among them, the properties in Cyprus, a Mediterranean tourist resort, are highly sought after. So how is the performance of the real estate market in Cyprus? Let’s explore this with WorldWay.
According to WorldWay Group, based on data released by the Cyprus Department of Land and Surveys, the sales volume of real estate in Cyprus increased by 11% year-on-year in the first quarter of 2019. In March 2019, sales to overseas (non-Cyprus) real estate markets increased by 9% year-on-year. Overall, the sales volume of real estate on the island has shown basic stability.
Annual housing sales situation for 2018/2019
According to official data released by the Cyprus Department of Land and Surveys, in March 2019, the number of real estate sales contracts deposited with the Land Registry of the Republic of Cyprus was 766, of which 398 (52%) were deposited by Cypriots, and the remaining 368 (48%) were deposited by non-Cypriots, including 125 from EU citizens and 243 from non-EU citizens. The total sales volume of real estate in Cyprus for the first quarter of 2019 was 2366, an increase of 11% year-on-year. Among them, the sales volume in Paphos increased by 17%.
Sales situation of overseas (non-Cyprus) real estate
In March 2019, sales of Cyprus real estate to overseas real estate markets increased by 9% year-on-year, with 368 sales contracts deposited. Compared to the first quarter of 2018, sales to overseas markets in the first quarter of 2019 increased by 11%, and compared to March 2018, sales to non-EU countries in March 2019 increased by 8%.
The Cyprus real estate market is in a golden investment period
In recent years, the economy of Cyprus has been continuously heating up, leading to a more active real estate market, with property prices in major cities increasing. On the other hand, driven by a booming tourism industry, rental yields have also been continuously improving, making it very attractive for investors. Currently, the Cyprus real estate market is booming, representing a golden investment period.
Through the Cyprus Investment Citizenship Program, one can obtain permanent ownership of real estate in Cyprus by purchasing property worth over 2 million euros, whether it is one or multiple properties. This allows participation in the Cyprus real estate investment market, sharing in the investment dividends brought by economic growth, and obtaining Cyprus EU passports for the entire family across three generations in one go. On one hand, it achieves the goal of global asset allocation; on the other hand, it grants EU citizenship, facilitating the internationalization of career and lifestyle in Europe, while the whole family can enjoy the generous benefits of education, healthcare, and retirement in the EU, achieving multiple benefits at once.
Holders of Cyprus EU passports can not only travel visa-free to over 150 countries and regions worldwide but also enjoy the benefit of 1=32!!! That is, holding a Cyprus EU passport allows free movement, work, and residence in 32 European countries, including 28 EU member states (such as the UK, Germany, Austria, Italy, France, Finland, etc.), 3 member states of the European Economic Area (Norway, Iceland, Liechtenstein), and Switzerland, enjoying the generous welfare benefits of EU citizens! Meeting certain conditions can also facilitate easy immigration to multiple European countries.
WorldWay Group kindly reminds you that the amendment to the Cyprus Investment Citizenship Program will officially take effect on May 15, 2019, at which time the cost of donation for investors applying for Cyprus EU passports will increase by 150,000 euros; if investors purchase properties that have already been used to apply for Cyprus investment projects (second-hand properties), the minimum investment amount will increase from the original 2 million euros to 2.5 million euros. "Immigration should be done early"; those interested in immigrating and investing in Cyprus should seize the current policy window and submit applications before May 15 to benefit early.
Investment immigration is a long and complex process, making it important to choose a legitimate, professional immigration agency with good government relations! WorldWay, a leading institution in investment immigration and a member of the Asia Brand 500, has always been at the forefront of promoting Cyprus passport immigration: in 2011, it introduced the Cyprus investment program to China, starting an exciting journey of investment immigration to Europe; in 2014, it successfully held the "Paphos Night" event in Beijing and Shanghai, which is an investment and cultural exchange event themed on European cities. Moreover, WorldWay Group has maintained a good relationship with the Cyprus government for many years, providing comprehensive services for your immigration journey.
Start your immigration to Cyprus from 150,000 euros + ultra-loose background checks + quickly obtain Cyprus EU passport/UK residency/Swiss residency, now is the time! Currently, the project, copywriting, and customer service teams of WorldWay Group are working together to not only customize a complete immigration plan for investors but also meticulously prepare and oversee every key detail, assisting investors in seizing the policy window for a smooth immigration to Cyprus! For inquiries, please call: 400-138-2929.