Cyprus has moved up by 12 places in a property ranking index during the month of March this year, as the Cyprus property market is moving forward from strength to strength.
It is said that Cyprus has become the sixth most wanted location to invest in, among overseas property investors in particular.
Foreign buyers have kept their eyes on the property for sale in Cyprus and have been making several enquiries about houses on the market and new builds. Enquiries about Cyprus property went up by 22% in the second half of 2016.
Buyers across the Cyprus property market are showing a big interest in buying in the country this year. So far this year the enquiries for properties have increased by 50% in the first quarter of this year. This jump is massive and demonstrates that the Cyprus real estate industry is certainly on the up throughout the rest of this year.
A few industry experts have suggested that the spark of interest has been fuelled by the deadline for a Capital Gains Tax incentive that came about at the end of the year. Prices have been climbing, on average, across all regions, which is attracting more and more investors – especially from overseas.
The island’s Golden Visa scheme is helping to drive the demand for Cyprus property too. A lot of buyers like the idea of becoming a citizen and this is a big investment opportunity that doesn’t go unnoticed.
Cyprus is very pretty and attractive and every year it attracts tourists from all over the world. It is a lush island that offers an idyllic lifestyle, especially for those who are looking to gain residency there. Owning or renting a property in Cyprus is becoming trendy and a lot of property investors are noticing Cyprus property market for what it is, which is in a very good place at the moment.
Written by Gemma Smith