Cyprus is now very attractive for the Russian investors and this came around for many different reasons. Good relations that the two countries have, the same religion, the most favorable (for Cyprus) double taxation treaty with Russia, the existing low taxation system in Cyprus for Russian Investors, the regular flights to and from Cyprus From Russia and 500,000 visiting Russian Tourists Per year which is ever increasing, are the main pluses.
The Russians are investing right across the country both North and South, with its numerous luxurious Russian hotels popping up , the existence of a Russian church and schools popping up all over the country, not to mention the banks that facilitate the Russians to live mainly in Limassol, which is also the center of the offshore business. Russian Investors can be divided in three large categories.
The top end with a budget of around 1 mil.- 3.0 mil. whose interest is directed primarily for luxury right on the beach property. This price range refers to luxurious accommodation with parking, garden and pool, 4-5 bedrooms and having an extent of around 500-700 sq.m. The next category is that of the 300-400.000 which direct their interest for villas situated on hills of Cyprus North & South , offering attractive views, or property very near the beaches. This price range refers to villas with private gardens and pools, 3 bedroom-4 bedroom around 120-150 sq.m.
The third category is around 200.000 whose interest is mainly for apartments right across the country, Normally 2 or 3 bed property Falls in this price range. The Russian market deviates considerably as no two sales are the same and there are sales at around 7 Million . for homes (very limited) and many many Russian buyers also for lower priced units (around 150.000).
The prices quoted are Mainly for Re sale property that is fully completed Russian investors have also teamed up with local business people and have undertaken property development to help Finish complexes, whereas others are buying land as an investment to flip on for profit within years to come. There are literally all types of Russian buyer for all types of property in Cyprus at present contact us now to help sell your property in Cyprus.