Is now the right time to be investing in Cyprus?
The Cyprus EconomyExceeding international expectations and returning to positive growth in 2015, Cyprus has made substantial progress in restructuring its economy. Cyprus has been remarkably resilient following the financial crisis and has implemented tough austerity measures to restructure its economy. Although it has been a challenging time, the economic adjustment programme is very much on track, with good progress made in all key objectives set out by the country’s international lenders. So far, Cyprus has passed all evaluations with flying colours and the country is coming out of recession in 2015 – a year earlier than first projected.
Investors and progressive business minds recognise that Cyprus today is one of the best places to invest! It is well known that the recent discovery of the largest oil and natural gas near to the coast of Cyprus is expected to completely transform the country’s economy over the next decade! There has recently been some large notable Real Estate investments reflecting the new confidence in the Cyprus economic position
The Cyprus Property Market
A new horizon has opened for the property industry and other major investments in response to the oil and gas that has been found in Cyprus, with large overseas investment in new Ports and Marinas, new Malls and other major projects already planned and under construction. These new projects inject daily progress into the Islands plans making Cyprus one of the most attractive places for investment in Europe.
The confidence in this market is typified by a number of major real estate projects that are currently planned including:
Limassol Marina, yia Napa Marina, Venus Rock , Limin Bay Two 18-hole Signature Golf Courses, Eagle Pin Golf development, Neapolis Smart EcoCity: Paphos, Nicosia City Mall,
Limassol Landmark a 34 story tower
Land Registry reveals that the total number of property buyers has increased notably, particularly with purchases from overseas increasing by 20% in the first half of 2015.
It is now considered by many as the best time for foreigner investors to invest in the Cyprus Property Market, after the global recession, the properties are still at low prices, but not for too long! This is the chance for investors to grab the opportunity today in buying exceptional properties in this beautiful and developed Island at the post-recession prices and see an impressive and guaranteed return from their investment over the next few years!
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