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Real Estate Renaissance



Real Estate Renaissance

The Cyprus real estate market is more attractive to foreign buyers now than it has been for decades. A combination of legislative changes together with strategic planning by the construction industry, mean this is the optimum time for overseas investors to move into Cypriot real estate. Cyprus, with its year-round sunshine, high quality of life, and convenient location between three continents, has long been a magnet for international investors, expats, retirees and those looking to enjoy a second home in a mild and hospitable climate. It seems that despite the uncertainty of fluctuating global economic cycles, these factors continue to have enduring appeal. The 2013 Knight Frank Global Lifestyle Review ranks Cyprus as the fifth best place in the world to relocate, establishing the island as the only European location alongside Switzerland to make it into the top five – ahead of London, Madrid and Monaco. Cyprus ranks highly because of its favorable tax regime for new residents – particularly for high-net-worth individuals. In May 2014, the island ranked 11th out of 40 countries in the Top of the Props chart, which records the most searched for overseas destinations to buy property. Recent legislation, coupled with a continuing fall in real estate prices, has triggered new interest in the middle and lower end of the market, while sales of luxury, top-end developments have surpassed expectations.

Head Office:
33 Nicodemou Mylona
Pafos, CY8101
T: +357 26 848 800
F: +357 26 934 910
E: info@pafilia.com
Freephone: 8000 89 89
Limassol Office:
28th October Avenue
Limassol, CY3105
T: +357 25 590 880
E: info@pafilia.com

Moscow Office:
6 Presnenskaya Naberezhnaya, bldg. 2
Empire Tower, Floor 31
Office 3
123112 Moscow, Russia
T: +7 (495) 137 8998
E: russian@pafilia.com
Beijing Office:
Room 3305, No.6 Building
Jianwai SOHO
No.39 East 3rd Ring
Middle Road, Chaoyang
District, Beijing, China
T: +86 136 6102 2984
E: info@pafilia.cn.com
South East Asia Office:
Level 46, Bitexco Financial Tower
2 Hai Trieu Street
District 1
Ho Chi Minh, Vietnam
T: +84 28 6287 5911
M: +84 777 686 019
E: b.winter@pafilia.com
Athens Office:
Corner 58 Kafkasou &
52 Skopelou Streets
T: +30 210 2717100
E: info@pafilia.gr