In recent years, under the favorable conditions of tourism, energy, and trade, Cyprus has shown remarkable economic development and global competitiveness. The World Economic Forum recently released the 2019 Global Competitiveness Report, evaluating the competitiveness of major economies worldwide, with Cyprus ranking 44th and showing an overall increase in its score.
This index reflects the macroeconomic stability of Cyprus, optimistic industry development, and vibrant business activity, making it competitive in the international market. As a result, Cyprus has also welcomed significant investment opportunities.
The RICS Cyprus Property Price Index indicates that in the second quarter of 2019, the Cypriot economy showed further signs of recovery, with seasonally adjusted quarterly GDP growth of 0.7% and annual seasonally adjusted GDP growth of 3.2%. Housing prices for villas and apartments rose by 1.2% and 1.4% respectively in the second quarter.
Property Prices
Limassol recorded a significant quarterly increase in apartment prices, reaching 3.87%, while villa prices rose by 4.82%. The prices of holiday villas also increased by 1.3% this quarter, and holiday apartments rose by 1.8%.
On an annual basis, apartment prices increased by 8.1%, villa prices by 7.7%, office prices by 6.0%, warehouse prices by 3.6%, and retail property prices by 4.0%.
Rental Values
Quarterly, apartment rents increased by 4.6%, villa rents by 3.2%, retail property rents by 0.9%, office rents by 0.2%, while warehouse rents remained unchanged.
On an annual basis, apartment rents rose by 16.4%, villa rents by 14.4%, retail property rents by 7.0%, office rents by 4.9%, and warehouse rents by 1.3%.
The Cypriot economy is steadily growing, with property prices and rents generally rising, attracting the attention of numerous investors.
Currently, through the Cyprus Investment Citizenship Program, applicants can purchase properties in Cyprus starting from €2 million (whether one or multiple properties) and make a donation of €150,000, allowing three generations of the family to apply for Cypriot EU passports.
In addition to applying for citizenship in Cyprus through property purchase, investors can also apply for immigration to Cyprus by purchasing, establishing, or participating in Cypriot enterprises. For example, the Limassol Golf Resort project introduced by WorldWay is an equity investment immigration project suitable for those who purchase, establish, or participate in Cypriot enterprises. By investing €2 million to subscribe to the equity of this project, while also purchasing real estate in Cyprus starting from €500,000 and donating €150,000, the entire family can apply for Cypriot EU passports.
Recently, there has been significant positive news for Cyprus investment immigration: Cyprus is expected to join the Schengen Area! Investing in Cyprus immigration means obtaining a Cypriot citizenship that encompasses EU member states, Commonwealth countries, Eurozone countries, and Schengen countries, facilitating global asset allocation and providing convenience for expanding careers and lifestyles in Europe, while allowing the whole family to enjoy the EU's generous benefits in education, healthcare, and retirement, achieving multiple benefits at once.
Advantages of the Cypriot EU Passport
1. One investment allows three generations of the family to apply for EU passports, which are visa-free for over 150 countries and regions worldwide;
2. 1=32, holding a Cypriot EU passport allows free residence, work, and study in 32 European countries (including the UK, Germany, Italy, France, and other 28 EU countries, as well as Switzerland, Norway, Iceland, and Liechtenstein), enjoying the same benefits as EU citizens in EU countries;
3. Permanent ownership, real estate can be inherited;
4. British education system, children can enjoy quality education;
5. Favorable tax system.
With the increasing popularity of the Cypriot EU passport and the growing number of applicants, the Cypriot government has repeatedly raised the application threshold since last year, not only limiting the number of applications but also increasing donation costs. It is uncertain whether future policies will tighten further, so investors interested in immigrating to Cyprus should cherish the opportunity.
Currently, WorldWay is holding a major discount event for its immigration projects in 18 countries throughout November! During this event, there are many discounts and surprises, and we welcome all new and old customers to actively participate and seize the opportunity! For more details, please consult: 400-138-2929.
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