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Cyprus property sales up 46 per cent

Cyprus property sales up 46 per cent

Cyprus property sales up 46 per cent in November 2016 Cyprus property sales continued their upward trend in November 2016 with sales rising by 46 per cent compared to November 2015 according to official figures from the Department of Lands and Surveys.

November’s increase follows a 37% increase in October, a 50% increase in September, and a 50% increase in August.

Of those 651 contracts, 463 (71%) were deposited by domestic (Cypriot) purchasers, while 29% (188) were deposited by overseas (non-Cypriot) purchasers.

With the exception of Famagusta, where sales fell 42%, sales rose in all district compared with November 2015.

In percentage terms Limassol led the way with sales up 82%, followed by Famagusta, where sales rose by 74%.

Meanwhile, sales in Nicosia and Larnaca rose by 43% and 3% respectively.

During the first 11 months of 2016 property sales have risen 34% to reach 5,929 compared with 4,439 during the first 11 months of 2015.

Sales have increased in all districts. Sales in Limassol have risen 48% and by 28% in Famagusta, Nicosia and Paphos. Meanwhile, sales in Larnaca have risen by 24%

In 2017 sales are expected to increase as the island becomes more and more affluent and out of recession with unemployment falling and tourism increasing year on year. 2016 was a record year for tourism in Cyprus.

So with Cyprus property sales up 46 per cent could be a good time to buy property for sale in Cyprus, contact us for more information here  http://www.cypruspropertydreams.com/cyprus-property-contact-us/

We are here to help in every way possible to make your search for that fantastic Cyprus property an enjoyable experience.

Read the testimonials from our previous clients who are still enjoying thier life in the sunshine on the fantastic island of Cyprus. Why not take the plunge and come and see for yourself the laid back lifestyle, the fantastic food and people.

During the first eleven months of 2016 sales to the overseas (non-Cypriot) market are up 20% compared with the first eleven months of 2015 with sales reaching 1,459 compared with 1,214 during the corresponding period last year.

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Cyprus Citizenship Passport

Cyprus Citizenship Passport  

The Cyprus government has approved a revised citizenship-by-investment scheme, Cyprus Citizenship Passport . Designed to further encourage investments in the island’s economy by non-Cypriot businessmen and investors.

THE COUNCIL of Ministers approved on Tuesday the 13th September 2016, a revised scheme for granting Cyprus Citizenship Passport to non-Cypriot entrepreneurs/investors.
In statements to the press on Wednesday, Minister of Finance Harris noted that the revision of the scheme aims to encourage real investments that would benefit the economy.
The government, he said, wants to attract investors who will chose Cyprus as their basis of residence and economic activity.
Investments should be kept for three years and companies in which investments are made should employ at least five Cypriot citizens.
The most important change, Georgiades said, is that the revised scheme abolishes the provision for collective investment of €12 million, which is being replaced by an individual investment of €2 million and the purchase of a residence worth at least €500,000.
The new scheme, terminates the provisions for the granting of citizenship to those with bank deposits worth €5 million. Also to persons whose deposits have been impaired due to the measures implemented after the 15th March 2013 and those who purchased bonds worth €2.5 Million read more about it here

Contact us today for further information

Reasons buy Cyprus property

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 Over the years, Cyprus has become an appealing tourist and holiday resort in terms of the international market.

Foreign visitors are on the rise, comprising primarily of Europeans, with the British market dominating (accounting for approximately 40% of tourists), trailed nowadays by the Russian market at 20%, with other European markets in pursuit.

As the Mediterranean’s third largest island, it is particularly attractive for vacationing families, though there are hot-spots for younger and unattached tourists as well — limited to certain towns and localities. And, being a former British colony, Cyprus has adopted many of the UK’s customs, as well as legal and other procedures.

The island thus offers numerous advantages & Reasons buy Cyprus property when compared to its real estate competitors, chief of which are as follows:

• The overwhelming majority of the population speaks English as well as Greek, though given the increasing numbers of arrivals from other countries, around 15% of the population also speak additional languages, such as German and Russian
• Motorists drive on the left (a concern for un-accustomed drivers)
• The legal system is akin to the UK’s
• The island is the EU’s second safest country and eighth most secure in the world. Serious crime is limited, even though it seems thefts might be on the rise • As an EU member, public health, domestic worker assistance for the elderly and other EU benefits and obligations apply in Cyprus
• The island claims six of the Mediterranean’s top blue flag beaches and is likely to add to this number as part of ongoing infrastructure upgrades
• Two top-quality marinas are already operating in Limassol, with another under construction in Ayia Napa, expected to be completed in 2018. A fourth is planned for Paphos and a fifth for Protaras. Small fishing harbours are also placed all along the coast
• There are two international airports (Larnaca and Paphos) offering ease of access to all cities via a highway network. Travel time is 30-45 minutes from airport to urban centres
• In addition to an array of sports facilities, the island boasts five international golf courses, plus various sporting clubs of all kinds
• Cyprus enjoys 300 days of sunshine a year and, depending on weather conditions, snow over the Troodos range, with facilities for skiers
• There are several schools and universities where tuition takes place in a major European language in all towns
• For those seeking a business destination, Cyprus offers the lowest tax rate in the EU, and holds double taxation agreements with key commercial partners, including the UK, Russia and Egypt. Perks such as special tax incentives for foreign managers of offshore companies are an additional attraction.
• Distances are comparatively short, with travel between coast and mountains taking about an hour. The island also offers an attractive countryside that combines history with natural beauty.
• Citizens of non-EU states can secure a permanent residency visa by acquiring a home worth over €300,000. Non-EU residents can also acquire a Cypriot passport with an investment of €5 million and a €500,000 house purchase. Such visas and passports also cover family members, whereas in the case of group investments (i.e. a number of buyers getting together or operating through a developer), the investment amount is reduced to €2.5 million per person. This scheme compares favourably with similar schemes in other European countries, and offers a one- to two-month response period from application date. Meanwhile, after a six-year recession, local real estate is showing signs of recovery with prices rising, so it is a suitable time to invest for personal use/buy-to-let/capital gains. It’s important to note that, under the prevailing incentives, the ownership transfer fee (stamp duty) is charged at 50% of the normal rate if transfer takes place in 2016 although we anticipate this may be extended.
Additionally, no capital gains tax is incurred for real estate acquired (if not necessarily transferred) within 2016, and sold at any time in the future.

Prices are dependent on a property’s location, quality, proximity to the beach, size and plot extent. As a frame of reference, the following are price guides for primarily new properties (prices for re-sales would be lower): Villas with pool – 100m2, two-bedroom villa with a pool: €150,000-€250,000 – 125m2, three-bedroom villa with a pool: €250,000-€400,000 Apartments with facilities – 90m2, two-bedroom flat: €180,000 – 110m2, three-bedroom flat: €220,000 Offices – Newer, high-tech at €3,000 a month (rental at €15 per m2.) Older at €2,000 a month (rental at €10 per m2) The above prices do not reflect those of properties in Nicosia, where prices are between 10%-15% lower than elsewhere. Luxury/beach accommodation Beach villas: €5,000-€10,000 per m2 Beach apartments – €3,000-€4,000 per m2 Less popular/non-beach tourist areas are estimated at 25%-35% less

Finally Reasons buy Cyprus property the growing number of airlines connecting to Cyprus, together with the government’s new open skies policy are also boosting the island’s popularity. Meanwhile, deflation has brought down the island’s cost of living index, to rank it 12th in the EU. So, for those on the hunt, it’s definitely worth paying a visit to a variety of local properties, to get a first-hand look at what the island’s real estate market can offer.

 Courtesy Cyprus Weekly
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