Investing in Cyprus: A Secure Retreat Amidst Regional Challenges

Cyprus Property Experts Offer Reassurance as Island Maintains Safety and Stability

As the Israel-Gaza conflict unfolds, potential property investors in Cyprus may harbour concerns about the safety and stability of the island. However, leading Cypriot property expert, Chris Michael, asserts that despite its proximity to Israel and Palestinian territories, Cyprus remains a secure and stable haven for real estate investment.

  • Cyprus maintains a ‘high’ state of peace according to the 2023 Global Peace Index
  • Foreign sales account for 46% of property sales in Cyprus
  • Cyprus real estate has seen a 45% increase since 2019

Global Peace Index Highlights Cyprus Stability

According to the 2023 Global Peace Index, Cyprus maintains a ‘high’ state of peace, placing it alongside other sought-after investment locations such as Spain, Italy, and Germany. In contrast, France is recorded as being in a ‘medium’ state of peace. This distinction underscores Cyprus’s unwavering commitment to maintaining a peaceful environment, providing an additional layer of assurance for prospective property investors.

Chris Michael commented:

“I find the 2023 Global Peace Index’s acknowledgment of Cyprus’s ‘high’ state of peace to be highly significant for prospective property investors. This places Cyprus in esteemed company alongside other desirable investment locations like Spain, Italy, and Germany.”

“The contrast with France, which is recorded as being in a ‘medium’ state of peace, accentuates Cyprus’s unwavering commitment to fostering and preserving a peaceful environment. This endorsement adds an extra layer of assurance for those considering property investment in Cyprus, reaffirming the island’s stability and attractiveness in the real estate market.”

Rising Momentum in Cyprus Real Estate

According to a recent study, foreign sales accounted for an impressive 46% of property transactions in 2023, the highest proportion since 2007, signalling trust in both the island’s safety and potential as an investment location. Paphos emerged as the most favoured city among foreign investors, followed by Limassol, Larnaca, Nicosia, and Famagusta

Notably, the first two months of this year saw a total of 1,069 sales, marking a remarkable 31% increase compared to the previous year. The Cypriot market has seen continued growth with property sales increasing by 45% since 2019.

“These recent trends show a significant surge in Cyprus real estate, capturing the interest of holidaymakers and investors alike. The market is experiencing unprecedented growth not seen since 2008, with foreign investment now constituting nearly half of all real estate ventures in Cyprus.”

“The study also identifies Russia and the UK as the dominant groups of foreign nationals showing keen interest in purchasing property in Cyprus and showing no sign of slowing down.”

The enduring appeal of Cyprus for real estate investment can be attributed to its attractive tax system, sun-soaked locales, and promising work opportunities. Even in the face of regional concerns, Cyprus stands as a resilient and immensely popular destination for those seeking real estate investment opportunities.