International property buyers continue to turn to Cyprus

Cyprus is receiving a lot of interest from property buyers with sales rising 18% in July compared to July 2016.

According to the Department of Lands and Surveys, there’s a sharp rise in the number of overseas purchasers in the month of July with the number of contracts issued to international purchases hitting 34% (448 by Cypriots & 251 by international purchases). This is an increase of 31% compared to last July.

Domestic property sales were also on the up recording a 12% growth in July, compared to July 2016.

Indeed, Cyprus is becoming popular among international property buyers and investors as the country’s economy is showing promising signs.

Recently, Cyprus was ranked fifth in the Knight Franks’ Global Lifestyle Review, the only European country alongside Switzerland to make it into the top five, beating the likes of London, Hong Kong and Singapore.

The country is also a ranked in the top 5 safest placed to live in the world.

It also came 32nd on Forbes list of best destinations for business in 2017, offering great business conditions with its attractive tax conditions.

With 320 days of sunshine, high availability of leisure pursuits and favourable tax regime for new residents, Cyprus serves as a great choice for foreign investors looking to invest in or purchase property on the island.

International Property Network based in coastal city of Limassol welcomes growing interest in Cyprus.

IPN’s Operations Manager, Mr Achilleas Kolonas comments,

“Cyprus continues to show signs of sustainable growth across the property sector. By focusing on our customers requests we hope to add to this number in the coming months!”

For more information on property in Cyprus, contact the team on +357 25 31 31 81 or visit www.ipncyprus.com

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