REALTY Group International, Inc. (RGI) announced today their plans to expand the Company’s reach into the upcoming boom in the European country of Cyprus.
Visibly the first American realty company to do substantial business in the region, RGI has developed an alliance with Antonis Loizou & Associates (ALA), the most recognized and respected real estate company in Cyprus with over 3000 properties for sale. Directly contracted with the Cypriot firm, RGI additionally boasts satellite offices in New York, Paris, Rome, Barcelona and Rio de Janeiro.
Recognizing that Cyprus has a massive potential for economic and residential growth due to a recent discovery of large deposits of natural gas, a recovering market and an underrated tourism destination, RGI owner and CEO Michael Fiscina says,
“Real Estate investors are looking internationally for new buying opportunities with a better return on their investments. Most of the investment opportunities from the US crash in 2008 have been exhausted, not as many deals emerged in 2014 due to the decreasing availability of short sales, foreclosures and higher market rate sales.
“We see countless homeowners taking advantage of the possible temporary housing bubble and are getting out when the market is at its peak. Also, we discovered that these sellers and investors are not necessarily re-investing; the common reason is because they are waiting for the market to deflate before they re-purchase and many sellers choose to rent instead.”
He states that the potential for growth in Cyprus is incredible for investors as for the time being it is still a buyer’s market.
“In many Southern California neighborhoods the demand is more than the supply, pushing up pricing,” quoted Mr. Fiscina who is a licensed Real Estate Broker in multiple American states.
Unaware to most Americans, market research indicates that investors from other European nations, China and the Middle East are the primary participants showing interest in the island nation of Cyprus, in part because its real estate investment laws allow for obtaining residency and citizenship in the European Union.
“Investors who purchase property totaling €300,000 are eligible for permanent residency with visa-free travel throughout the EU; and now, through Realty Group International, Inc., this includes Americans as well,” Fiscina explains. “These factors, and a real estate market that’s still reeling from the recent financial downturn, are the reasons why properties in Cyprus are about to be red hot.”
Determined to provide their clients and potential investors with the essential information on the Cypriot market, RGI has brought on board American resident and native Cypriot, Hratch (James) Chaderjian as a consultant. Mr. Chaderjian who was previously employed at the UN for nearly 10 years brings a more personalized approach to the unfamiliar investor.
“Since Americans are now intrinsically involved in the natural gas and oil drilling and production we feel it’s important to have a Cypriot influence to provide our US citizens and companies a high level of consumer confidence to be able to comfortably purchase,” Chaderjian stated. “It is necessary that the US investor be educated towards the fiscal developments and investment opportunities and in turn put Cyprus on the map for not only American but potential international investors.
“Also, our Executive Sales Coordinator, another native Cypriot is located on the island. He is our welcoming committee and even considered our tour guide when needed,” said Rachelle Schreiber RGI’s Executive Regional Manager. “Having a native Cypriot here and on the island grants us an influential vantage point to provide our clients and investors the most successful real estate information and prospects.”
Rachelle who has been licensed with the BRE for over 25 years states that RGI is currently working with a few Fortune 500 Companies that are showing great financial interest in the Cyprus real estate and business marketplace.
“In addition with the discovery of natural gas and the American alliance forged for this endeavor it is only a matter of time until the Cyprus economic market and real estate industry skyrockets. Along with the hydrocarbon industry and the tourism sector being greatly highlighted due to the state of the art developments such as the marinas, golf courses, commercial buildings, multi-family and single family residences—the super casino will be a significant deal in this region as there is nowhere else like this except for Monte Carlo and a project as such will dwarf it in comparison. The casino resort will be something the EU and the Middle East cannot experience anywhere else except for in Las Vegas, Nevada,” according to Mr. Chaderjian.
About Realty Group International, Inc.:
Realty Group International, Inc. (RGI), headquartered in Beverly Hills, is a worldwide residential and commercial real estate company with offices in London, Paris, Rome, Barcelona and Rio De Janeiro. Specializing in the most exciting cities for over a decade, RGI has had the privilege to complete over a thousand purchases, sales, leases and build-outs for companies throughout the globe. With a proud heritage of providing comprehensive representation for their clients, RGI is committed to informing and connecting global communities by utilizing their extensive experience and knowledge of the market to ensure a unique experience for investors and home buyers. By delivering unparalleled value and customer service to sellers in the most glamorous cities in the world, RGI successfully keeps your ultimate goals as the focus of any deal while utilizing our media relationships to ensure maximum exposure for every property we represent.
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