Everybody is against Cyprus real estate, is it time to buy?

[Nicholas Wallwork]

Historically, whichever investment market you care to look at, you will see times when every investment adviser is recommending the purchase of shares in a particular company. The fact is that investment advisers and investment

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[Veronica]

This article is a few years old and things have improved considerably in the last couple of years.
specifically with investors from non EU countries buying to secure residency to enable them to have easy access to Europe.
Also Americans who are looking to get Cypriot passports. They have to spend 2.5 million on a property and it seems there is no shortage of rich Americans who want to get their money out of the States.
We are currently working with 2 American clients.

 

[Longterminvestor]

It could be a volatile few years for the Cyprus property market with talk of unification?

 

[Veronica]

Certainly the ordinary man who is looking for a retirement home is far more reluctant to buy now. Most British retirees are opting to keep their homes in the UK, rent them out and use the income to rent here these last few years. It is the wealthy who are looking to invest in Cyprus for several reasons including the future of the gas fields and the construction of new marinas which make Cyprus an attractive option for the yachting crowds.

 

[realdeals]

Probably best to assume Cyprus will not be unified any time soon and base your investment decisions on that basis?

 

[Veronica]

Actually it is not a bad time to buy in Cyprus now. The financial crisis which we had a few years ago is just about resolved thanks to the present governments hard work and the future of the gas fields means that buying now is a good bet as prices will rise once the gas fields are established. Also in the areas where the new marinas will be built prices will go up as soon as construction starts. The Paphos/Coral bay marina is due to start construction this year.

 

[realdeals]

I see the reunification talks have failed again - no surprise there lol

 

[Veronica]

I have said all along that reunification wont happen for a very long time. As long as turkey insist on their troops remaining and try to usurp the natural resources of Cyprus there will never be an agreement. However all of this does not take away from the benefits and great lifestyle in the Republic Of Cyprus.

 

[diyhelp]

It is a shame that the dark cloud of a split country continues to hang over Cyprus when as you say the lifestyle and the benefits of living in the Republic Of Cyprus are great.

A similar situation in Gibraltar where the King of Spain is apparently going to bring up the matter of sovereignty on his state visit to the UK.