In recent years, the economy of Cyprus has been improving, and both the Cyprus real estate market and the Cyprus investment-based citizenship program have become highly sought after by investors. Financial magnates, large domestic enterprises, and high-net-worth individuals are continuously pouring into Cyprus, all of which has paved a promising future for the Cyprus property investment immigration market.
Recently, the report "Cyprus Real Estate Market - First Half of 2019" published by PwC has once again confirmed the broad prospects of the Cyprus property investment immigration market. The report shows that in the first half of 2019, the total value of real estate transactions in Cyprus (sales contracts and property transfers) reached 2.5 billion euros, an increase of 25% compared to the 2 billion euros in the first half of 2018. The number of property transactions also rose to 7,900 units.
Data statistics show that in the first half of 2019, residential project transactions accounted for 77% of the total real estate market transaction value, reaching 2 billion euros, with a transaction volume of 5,500 properties. Among them, apartment project transactions accounted for 43% with 3,600 units; villa project transactions accounted for 34% with 1,900 units. This was followed by land projects, with a transaction value of 400 million euros, accounting for 16% of the national total.
In the first half of 2019, overseas investors purchased a total of 2,482 properties in Cyprus, a year-on-year increase of 13%, with nearly 70% of overseas investors coming from non-EU countries.
In addition, according to the Royal Institution of Chartered Surveyors (RICS) index, residential prices in Cyprus in the first half of 2019 increased by 8% compared to the first half of 2018, marking 14 consecutive quarters of growth.
As is well known, Cyprus is an island nation with limited land resources, and available building land is even scarcer. Judging from the economic recovery of Cyprus and the growth rate of real estate transactions, more and more overseas investors are arriving. With the continuous influx of overseas investors, the country's land resources may one day be "exhausted." At that time, the inverse relationship between property supply and housing prices will likely make the rise in housing prices unstoppable, and property space in Cyprus may become "worth its weight in gold."
Therefore, it is recommended that investors interested in purchasing property in Cyprus seize the opportunity, plan early, and strive to be a visionary investor; do not miss out on a golden opportunity due to hesitation!
Currently, through the Cyprus Investment Programme, investors can purchase Cyprus real estate starting from 2 million euros (whether one or multiple properties) and make a donation of 150,000 euros to not only obtain freehold property in Cyprus but also apply for Cyprus EU passports for three generations of their family.
In addition, investors can also apply for immigration to Cyprus by purchasing, establishing, or participating in the investment of a Cyprus company. For example, the Limassol Golf Resort project introduced by Worldway is an equity investment immigration project suitable for those who wish to invest by purchasing, establishing, or participating in a Cyprus company. By investing 2 million euros to subscribe for equity in this project, while also purchasing Cyprus real estate starting from 500,000 euros and donating 150,000 euros, the whole family of three generations can apply for Cyprus EU passports.
Holding a Cyprus EU passport not only allows visa-free travel to more than 150 countries and regions, but also offers a "1=32" advantage! This means that holders of a Cyprus EU passport can freely move, work, and reside in 28 EU member states (including the UK, Germany, Austria, Italy, France, Finland, etc.), 3 member states of the European Economic Area (Norway, Iceland, Liechtenstein), and Switzerland—a total of 32 European countries—while enjoying the generous benefits of EU citizenship. Under certain conditions, it is also possible to indirectly immigrate to multiple European countries!
With the popularity of the Cyprus EU passport and the increasing number of applicants, the Cyprus government has repeatedly raised the application threshold since last year, not only limiting the number of applicants but also increasing the donation costs. No one can predict whether policies will be further tightened in the future. Therefore, investors interested in immigrating to Cyprus should cherish the opportunity while it lasts.
Great news! To thank new and old clients for their continued trust and support, as we approach the end of 2019, Worldway is launching a "Year-End Mega Sale, Giving Back to Clients" promotion. From December 1st to 31st, 2019, there will be many activities, discounts, and surprises. We welcome all new and old clients to actively participate and seize the opportunity! For more details, please call: 400-138-2929.
