Due to the strengthening economy and increased interest in Cyprus tourism, Cyprus investment opportunities have increased for the past years. Cyprus is in the Eastern Mediterranean. This tiny island offers stunning beaches and a robust economy, providing vacationers with a romantic and soothing respite from the busy world.
Cyprus Investment Opportunities: About the Economy
The Cyprus home market has recovered from years of economic turmoil, which has aided the grow Cyprus investment opportunities. Things are starting to look up. The economy and real estate market are both strengthening and stable.
According to the most recent economic statistics for the island of Cyprus, the Gross Domestic Product (GDP) increased by 2% in the first quarter of 2021 over the previous quarter. It predicted that GDP growth would be approximately 4.3 percent in 2021, robustly in this post-pandemic age.
According to the most recent Deloitte statistics on Cyprus’ real estate industry, real estate and construction activities contributed 17% of the country’s GDP in 2019.
Cyprus Investment Opportunities: Real Estate Projects
If you want to invest in real estate in Cyprus, the projects featured below are of the highest quality. They are in the thriving regions of Larnaca, Cyprus:
GAIA Project
2-3 bedroom apartments and skyvillas in Larnaca. GAIA provides the opportunity for a perfect marina-side contemporary life-style.
NOX Project
2-3 bedroom apartments in Larnaca. Strategically positioned to overlook the new port and marina along Larnaca’s waterfront
ARMONIA Project
2-3 bedroom apartments in Larnaca. ARMONIA is without doubt the epitome of the cosmopolitan lifestyle.
Other Cyprus Investment Opportunities
Tax Advantages
The low corporation tax rate is one of the most appealing features that create Cyprus investment opportunities. The corporation tax rate is 12.5 percent, among the lowest in the European Union, and entirely complies with EU and OECD rules. The advantages go beyond the low tax rate. Dividend revenue from the sale of shares, bonds, and other financial instruments, as well as foreign exchange (FX) dividends and earnings from Overseas Permanent Establishments (PEs), will all be free from tax.
Also read: Cyprus Tax System: A Detailed Guide For 2021
Low-Interest Rates
According to the most recent interest rate research (September 2020), the statistics for house loans have reduced to 2.10%. This is a significant decrease from its peak of 5.33% in 2012 and 6.05% in 2009.
Also read: Deloitte’s Cyprus Real Estate Market Report
Member of the EU
Cyprus is a European Union member that uses the Euro as its currency. The island has access to the single market and the customs union. As a member of the European Union, Cyprus enjoys the same rights as any other EU country.
Investment Rates and Yield in Cyprus
ccording to RICS data, office yields, which peaked at 4.6% in the fourth quarter of 2016, have shown an increasing trend since 2016 and have begun to catch up to retail rates. For the first time in the fourth quarter of 2019, office yields matched retail yields (2012-2019). Apartment yields have been continuously growing since 2017, reaching a peak of 5.0% in Q4 2019.
The average sale price of a property in Cyprus in 2018 and 2019 (for all quarters) was €1,477/sq.m. and €1,552/sq.m., respectively.
Pleasant Climate and Living Quality
Besides Cyprus investment opportunities, the average yearly temperature ranges from 25°C during the day to 15°C at night. It receives 300 days of sunshine every year. It’s a lovely area to live and work, with the island’s strong affinity for art and entertainment contributing to the desirable lifestyle. Cyprus has a lower cost of living than other comparable countries while ranking 27th in the Economist Intelligence Unit’s 2019 Quality of Life index.
Conclusion
If you’re searching for a one-of-a-kind location, Cyprus is a terrific area to start investing. The benefits listed above are not the only ones. Those, as mentioned earlier, are only a few of the aspects that we believe make Cyprus so enticing for investment and opportunities.
If you have any questions regarding starting your investment in Larnaca, do not hesitate to contact us at info@sunshadowinvest.com, call us at +357 24 816246, or Book a 20-Minutes Online Meeting.
Related: Complete Guide on Cyprus Investment
