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Encouraging investment in Greek Cyprus

Updated: Feb 12

What are the reasons that make Greek Cyprus one of the most sought-after destinations in the world today for foreign investors from the Middle East, Europe, and Asia?

  1. Why is Cyprus one of the most desirable tourist destinations for people worldwide?

  2. How do you say "good night" in Greek - "kalinikta" or "klinishta"?

Cyprus, located just a 40-minute flight from Israel and a short flight from European and Middle Eastern markets, conceals an enchanting island with a Mediterranean Sea flair.

Cyprus is undoubtedly a prominent tourist destination, enjoying an average of 340 sunny days a year, with clear beaches and the Troodos Mountains in the island's center. The tourism movement to the island in 2022 peaked with around 3.2 million visitors from the UK, Israel, Poland, Russia, and more (three times the population on the Greek side of the island).

The country encourages foreign investments with favorable tax policies, attracting companies worldwide and private investors. This has led to the expansion of major technology companies in the region, including Microsoft, Oracle, SAP, Amadeus, IBM, and more. The country offers permanent residency, providing additional rights for education and work on the island upon purchasing real estate for long-term residence, amounting to 300,000 euros.

The island is experiencing tremendous economic growth with opening of the largest casino in Limassol, a plan to renovate the Larnaca marina and port, and the discovery of natural gas reservoirs.

Cyprus is a member of the European Union (EU) with convenient business regulation and a legal system based on British law.

Given the above, the local real estate market enjoys high appreciation and value, with an average annual increase of over 10% in property and rental prices and an average monthly return of about 7%.

In the past two years, there has been a significant increase in demand for property purchases for residence and investment in Greek Cyprus. This trend is expected to continue in the coming years.

We hope we have explained the global demand for investments in Cyprus. For any further questions, feel free to reach out to us.

Klinikta - Ofek Zamarot from the Zamarot Real Estate Group.

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