CYPRUS REAL ESTATE: STILL AN ATTRACTIVE INVESTMENT?
In the recent years Cyprus has become by far one of the most attractive destinations for property investment in the Mediterranean region.
Although the real estate industry in Cyprus was negatively affected by the global financial crisis and the domestic banking crisis between the years 2008 and 2015, it has successfully spiraled out of the crisis and is on a constant increase.
Based on the official statistics published by the Department of Land and Surveys, property sales continued to rise in January 2019 as compared to the same month of 2018.
Demand for Cyprus property has traditionally been related to the weather conditions and the purchase of holiday homes. However, recent investment incentives, in combination with a stable legal and tax framework, has resulted in a thriving real estate industry with increased demand in residential and commercial property.