Why Cyprus is a unique place to relocate?

There are so many beautiful places in the world, but it may interest you to know that the beauty of Cyprus is one with so much uniqueness.

Apart from its aesthetics, there are several reasons why this amazing place usually attracts a lot of interest from different parts of the world in its market for real estate dealings. Every day, more Europeans and migrants from 3^rd world countries are looking for ways to invest in real estate properties in the country. From apartments to villas and traditional stonehouse to sometimes even a whole building.

There are several reasons why the quest for properties is on a high in Cyprus; we cannot rule out the fact that the climate is favorable, and thus improves the attitude towards market conditions. For a small island, it may interest you to know that the development of the industries in the country is happening rapidly; hence, the rapid development of the industries have served as a force of attraction for many investors from different parts of the world. Though rich in culture and proud about their heritage, the locals are also contributing to the rapid development of the island, and they are doing a very good job of it.

Furthermore, the country makes it easy for migrants to become permanent residents, as opposed to other European countries. The reasons why people are opting for Paphos, Cyprus to purchase properties are not farfetched, as they are very obvious. It is so easy to make the decision of packing and starting the process of a house removal, especially after checking out the markets for real estate and also the lifestyle that comes with staying in the beautiful country of Cyprus. It is imperative to know that the increased demand for properties in Paphos is due the fact that there are some amazing benefits that are attracting property investors from far and near, and these benefits are the basis for the reasons why Cyprus is an attractive place for buying properties, here are some of the top benefits:

• Perfect Climate

One good thing about Cyprus that has been a huge plus for the country is the climate. It is not often that you get to hear anything other than the country having sunny weather almost all year round. It seldom rains, and that translates to the fact that the warm weather and sun are constant for the most part of the year. Hence, the favorable climate is a very good benefit and reason why a lot of people are buying properties and beginning to relocate to Paphos, especially people who cannot cope with the extreme weathers of some other countries.

• Low Crime Rate

This is another valid reason why the country of Cyprus has been experiencing an unprecedented influx of property buyers and investors. It is important to note that Cyprus is a relaxed country to relocate to, and that is due to the fact that the country's crime rate is remarkably lower than a lot of the European countries. The importance of this benefit cannot be overemphasized because it makes it easy for people to live peaceably and also build a family life that is peaceful and full of value. You may want to ask why the country's crime rate is low; the answer is quite simple: the country is a small one, and the culture of the people makes it difficult for them to keep secrets, which in turn makes it difficult for criminal activities to thrive in the country.

• Holiday Resort

Every year, Cyprus sees an influx of tourists who want to enjoy the sights and sounds of the country. Making the country a tourist destination is one of the reasons why there are several posts for tourists in different parts of the country. The country of Cyprus is notable for its amazing beaches, hospitable inhabitants, excellent climate, and it is also worthy of note that it is quite affordable. The fact that there are various side attractions for tourists in Cyprus makes the purchase of properties in Cyprus, a lucrative business for those involved. Hence, it is amazing to know that a lot of people have begun to use this benefit to become property owners in the beautiful country of Cyprus.

• Property Options

The property market in Cyprus presents you with so many options to choose from. Whether you want something traditional, or perhaps you want it brand new, you are presented with a variety of properties to pick from. However, it is important to know that getting a traditional property in Cyprus is not as easy as getting a brand new property, as you may need to search deeper for the former. Furthermore, it does not matter the size of your budget, or where you want the property to be located, there are suitable options for you. The availability of a variety of property options has attracted so many from different parts of the world, to come invest in the property market in Cyprus, and they are enjoying the decision.

• Citizenship and Residency Schemes

A lot of migrants come in from 3^rd world countries, and Cyprus has amazing plans for migrants. It may interest you to know that different programs have been started by the government in Cyprus. These programs are designed to help migrants, and non-Europeans get the chance to become permanent residents if they are able to purchase properties that cost at least €300,000 (Inclusive of VAT), and furthermore, they can also get to become a European passport carrying citizens if they are able to have an investment that is worth €2.5 million. It may interest you to know that both schemes are unique and considered to be among the best migrant schemes in the world. Hence, there are so many investments owned by foreigners, because many people want to become citizens of the country, and thus benefit from the provisions the government has made.

• You May Rent It

Owning properties in Cyprus comes with different flexible options. For instance, you can purchase a property and have it put up for rent, and that is one good way to get guaranteed returns on investments, and that is what a lot of property investors do in the country. Most times, they employ a strategy where they buy a home and then have it put up on the rental market, and then after some years, they relocate to their properties permanently. In different parts of the world, rental property is a lucrative way to get returns; however, Cyprus makes it even better for everyone with several favorable conditions to aid the decision-making process.

• Easy access to 3 continents

There are several other reasons why Paphos, Cyprus has become a go-to country for the purchase of properties. Take, for instance; the bubbly Mediterranean island makes it easy to access three continents: Asia, Europe, and Africa, and goes, without doubt, to mention that its strategic position had helped business transactions since 2004 when the island joined the European Union.

• Tax benefits

When a corporate entity, company, or individual decides to go through with the process of purchasing properties, it is imperative to know that they are entitled to obtaining tax benefits.

• Securety & Affortability
  securities of Title deeds are offered to property holders by the Land Registry Office located in Cyprus, and the prices of properties in the country are remarkably low compared to other European countries. 

It may interest you to know that within the Mediterranean, the island of Cyprus is the third largest. Furthermore, the country has a rich culture, and citizens are proud of their rich culture.

More people are buying properties in the country because over time; the country has gone through amazing progress in the development of the industry, education, technology, and banking sector. Furthermore, it may interest you to know that the locals, even though they have played integral roles in the development of the sectors, they have not failed to keep being the simple and traditional people that they are, which is also responsible for their famed hospitality and warmth.

The rate at which properties are being purchased every day is indicative of the fact that there the country makes the conditions favorable for property purchases. We cannot help but take into cognizance, the natural beauty of the island, that and the perfect climate, improved safety, and quick development of the island are important factors that have influenced the decisions of people to buy properties in Cyprus.

It goes, without doubt, to say that the island of Cyprus is a small and amazing paradise, with idyllic conditions that make it a good country to live a happy and safe life. If you are looking for where to spend your next vacation, you may want to consider visiting Paphos, Cyprus, and you could do your own findings too, who knows, you may get so in love with the place that you will purchase your property, and enjoy the wonderful benefits that come with owning properties in the country.

Source: C.N. Property Canvas Ltd. All rights reserved.

Author: Christos Nikolaou

BEng Mechanical Engineering, MSc Real Estate, ETEK Property Valuer, Register and Licensed Real Estate Agent.

Christos Nikolaou is the founder and Managing Director of Property Canvas, he holds a license as an Estate Agent from the Association of Real Estate Agents of Cyprus and he is a registered Property Valuer in the Technical and Scientific Chamber of Cyprus (ETEK). He is the author of our “Why Cyprus is a unique place to relocate?” and is a certified advance negotiator.