Cyprus is known for its crystal-clear waters, rich history and culture, and picturesque streets. But apart from its natural beauty, Cyprus has a lot more to offer.
The country is becoming one of the most popular investment destinations, attracting foreign entrepreneurs and investors from all over the world.
Keep reading below to find out more.
Becoming an international business hub
Over the recent years, Cyprus has quickly developed into an international business hub — offering attractive tax benefits, investment incentives, and specialised talent.
This has led to an increasing number of multinational companies setting their operations on the island, which, in turn, resulted in significant growth in the real estate market as both companies and individuals look for suitable spaces to work and live in.
What are the benefits of purchasing real estate in Cyprus?
Whether you’re looking to invest in a holiday home or a rental property, there are many benefits that come with investing in Cyprus.
- Attractive business location: Cyprus offers a robust business environment, ideal for setting up a business or establishing new headquarters.
- Tax incentives: Cyprus offers a low corporation tax rate (12.5%) which is among the lowest in the European Union.
- Access to the E.U.: Cyprus is a member of the European Union and uses the Euro as its currency.
- Growing property market: The high demand for rental properties creates opportunities for investors who seek a high return on investment.
- Growing economy: Cyprus has a well-developed economy, strong banking sector, and stable political situation.
- Favourable climate: With an average of 340 sunny days per year, Cyprus is the ideal place to live and work.
What’s the best location for purchasing real estate in Cyprus?
When it comes to choosing where to buy real estate in Cyprus, it’s important to consider your personal preferences and investment goals, as well as factors such as access to amenities, demand, and attractions.
Limassol
Located on the southern coast, Limassol has undergone significant growth over the recent years.
The city is characterised by stunning high-rise buildings, luxurious marinas, and busy shopping centres. Plus, it’s home to Europe’s first integrated Casino Resort, the City of Dreams, which offers five-hundred luxury rooms and world-class suites.
Because of the high demand, Limassol is a popular location for those looking to invest in real estate for rental purposes.
Paphos
Known for its beautiful beaches and historic sites, Paphos is another popular location for those looking to invest in real estate in Cyprus.
Voted as the best place for expats, Paphos welcomes hundreds of tourists and expats every year looking for a place to reside.
That said, Paphos is an ideal investment location promising a steady source of passive income, especially for luxury holiday homes.
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