Chinese property investors are returning to Cyprus after the Cyprus government regained their trust and the confidence the cash rich Chinese investors have in the Cypriot economy with the introduction of the Golden Visa in Cyprus.
Prices of villas and apartments have risen by 2% and 2.1% respectively, and rental values have also risen across the island by 2% over the last quarter. These were recorded in Paphos, Ayia Napa & Famagusta. Not only this but long term rentals for houses and villas have risen by 3%.
Compared to 2014 this year is showing nearly double the increase as the Cyprus economy improves and more and more people start renting long term in Cyprus again. Statistics show that the average price of an apartment in Cyprus is €140,000 with rent in around €400 per month.
Houses or Villas are averagely priced around €400,000 and the average rent for a property of this price is €700 per month. During the last quarter of 2014 / 2015 statistics show that long term rentals of property of this price is on the increase which strengthens the fact that the Cyprus economy is on the rise and it is a good time to re invest in property in Cyprus again. Which is bringing in the new wave of Chinese investors. Over the last 6 months to a year statistics show that Chinese property buyers have made up almost 30% of the investors in Cyprus property.
Not only this but there are plans for a €600 million Chinese commercial centre to showcase Chinese products and services in Cyprus. And more flights have been agreed from China to Cyprus between airport operator Hermes and Far eastern Phoenix LTD. Who plan to re develop the old Larnaca Airport area to a centre for many of the worlds leading partners including Europe , The Middle East and Africa and this partnership is looking set to run for the next 20 to 40 years.
This has all helped Chinese investors have faith in the Cyprus Government and is the main reason we are seeing so much investment in Cyprus again. With good tax benefits for buyers looking to get the Golden Visa in Cyprus.
There never has been a better time to sell overseas property in Cyprus contact us today .