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The Republic of Cyprus, a member of the European Union (EU), boasts an advanced economy, high income, and an impressive Human Development Index (HDI). This makes it a prime destination for settlement. The Cypriot real estate investment program offers numerous opportunities such as permanent residency, the ability to bring family members, tax benefits, and other government-provided benefits. Let's delve into the details in this article!
Statistics show that the Cypriot real estate market is experiencing positive changes, with foreign investors making up about 50% of investments. This indicates that investing in Cypriot real estate is becoming increasingly attractive to foreign investors due to several reasons:
Renting real estate in Cyprus offers an average annual yield of 8.5%.
Current investors can take advantage of the opportunity to rent out real estate in Cyprus, which offers an average annual yield of 8.5%. There is high demand for both commercial and residential properties, providing favorable conditions for investors to tap into this promising potential.
Another notable advantage for investors is the ability to sell real estate at attractive profits. In fact, the Cypriot real estate market has experienced positive growth for over nine years. This growth demonstrates that the country provides a favorable environment for leveraging the increased value of real estate and reaping substantial profits upon resale.
Foreign investors can obtain long-term residency in Cyprus by purchasing real estate worth at least 300,000 Euros. This residency offers significant benefits, including the freedom to live, work, and enjoy a high quality of life in Cyprus.
Benefits of Holding a Permanent Residency Card for Investors
Once you obtain a permanent residency card, you are free to live, study, and work in Cyprus. After holding the residency card for eight years, you are eligible to apply for Cypriot citizenship. With Cypriot citizenship, you can travel freely to 160 countries without needing a visa. Additionally, investors are free to live, study, and work throughout Europe.
The Republic of Cyprus is an island nation located at the intersection of Europe, Asia, and Africa, making it convenient for trade and travel. Compared to other European countries, Cyprus has a relatively low population density but boasts one of the best living environments. The capital is Nicosia, the political hub, while other major cities like Limassol, Paphos, and Larnaca are prominent for their economic and cultural significance.
Cyprus features a temperate climate, with summer lasting from May to early October and a short winter from December to February. With its warm and sunny weather year-round, Cyprus is often referred to as the “Jewel of Europe.”
Cyprus: A Highly Rated Place for Living and Vacationing
When visiting, tourists can also experience the unique culture and festivals of this nation. Cyprus respects and maintains its distinct identity, traditional customs, and hosts events throughout the year in various cities. Consequently, this island nation is always a top choice for both domestic and international tourists seeking a vacation.
The Republic of Cyprus is one of the safest countries in Europe. Statistics show that it ranks high on the peace index for 2024, placing 51st globally and 23rd in the world for quality of life.
Additionally, Cyprus offers extremely favorable tax policies, and the EU consistently rates its economic growth indicators positively. In 2023, the GDP per capita reached nearly USD 35,000, earning Cyprus the reputation of being the most prosperous nation in the Mediterranean region.
The latest report from the Cyprus Property Index by RICS in collaboration with KPMG revealed positive figures for the Cypriot real estate market in Q1 2024. Real estate prices continue to trend upward, especially in the apartment segment, which recorded the strongest increase.
Data from the first quarter of 2024 indicate that most property types maintained stable prices, except for apartments, which continued to rise, particularly in the Nicosia and Paphos areas. In terms of housing quantity, Nicosia saw growth while other districts remained stable.
The warehouse and office real estate markets in Cyprus witnessed slight increases. Specifically, Nicosia experienced the strongest development in warehouse real estate, while Larnaca stood out for its growth in office real estate.
Cyprus: A Promising Land for Investors
While the retail real estate market shows no signs of change, continuing its stagnation from Q4 2023, especially with a slight decline in Larnaca, Limassol, and Paphos have also witnessed a decline in the warehouse real estate segment. Paphos, in particular, has seen a decrease in the retail sector.
However, the rental property index has shown positive growth, with residential properties such as apartments and houses leading the way in rent price increases. Therefore, Cyprus remains a promising land for investors to continue their investments.
The average price per square meter for residential real estate in various regions of Cyprus is as follows:
Currently, the average house price in Cyprus is around €2,054/m². Compared to many other European countries, this price is considered quite affordable. For instance, the average residential real estate price in France is €13,462/m², in Milan, Italy, it is €5,271/m², and in Portugal, it is €4,800/m².
When applying for permanent residency, investors need to include the following additional costs:
The government of the Republic of Cyprus has established an investment program that allows investors and their families, who are not part of the European Union, to reside long-term in Cyprus and have the opportunity to become EU citizens. Therefore, the conditions for residency in Cyprus are quite simple.
Investors need to invest a minimum of €300,000 (approximately 8.4 billion VND) in one of the following categories:
Minimum Investment for Cyprus Residency: €300,000
One of the benefits of investment-based residency is the ability to apply for an electronic visa or submit an online application for entry and travel within the European Union (EU, Schengen). Moreover, the processing time for a European visa (EU, Schengen) only takes a few days.
Notably, this program allows investors to own real estate to obtain a permanent residency card without requiring donations to the government, qualifications, management experience, or language proficiency.
If you are interested in the Cyprus real estate investment program or Cypriot citizenship in general, please leave your information below. We are a reputable service provider specializing in obtaining second citizenship, with a strong commitment to customer satisfaction. Let us accompany you on your journey to living and working in some of the most powerful countries in the world.
Investing in Cyprus real estate has significant potential. Projects focused on apartments and housing investments are particularly appealing due to the high standard of living, clean air, and high Human Development Index (HDI) in Cyprus. Visit our website at https://quoctichthuhai.com/ daily to stay updated with useful information and knowledge!
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