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Cyprus attracting more overseas interest

Overseas interest in the Cyprus property market strengthened in March to become the sixth most sought after destination in the Top of the Props index published by

Cyprus property attracting more overseas interest CYPRUS moved up 12 places in the’s Top of the Props index in March 2017 to become the sixth most sought after location by overseas property investors.

Foreign buyers returned to the island’s property market at the end of 2016, with enquiries rising 22 per cent in the second half of the year. Enquiries faltered at the start of 2017, but buyers are now showing signs of returning in greater numbers.

In real terms, enquiries for Cypriot property rose by more than 50 per cent in Q1 2017 compared to Q4 2016. The country accounted for 3.03 per cent of enquiries, its highest share in two years.

“Foreign demand for Cypriot real estate is showing signs of strengthening again in 2017,” commented Director Dan Johnson. “Interest climbed in the final months of 2016, possibly fuelled by buyers racing to beat the deadline for a Capital Gains Tax incentive at the end of the year.

“Interest softened at the start of 2017, but enquiries have grown once more in March, without the impetus of the tax deadline. With prices bottoming out and climbing across almost all regions, according to multiple indices, conditions in the island’s market are certainly improving, which is beginning to bring back investors.

“The island’s Golden Visa scheme is also helping to drive recovering demand, with buyers on particularly interested in citizenship investment opportunities.”

RankCountryShare (%age)Change
1USA7.89Up 2
2Spain6.01Down 1
3Indonesia5.98Up 3
4Portugal3.96No change
5UAE3.4Down 3
6Cyprus3.03Up 12
7Croatia2.69Up 27
8FRANCE1.47Down 1
9Italy1.47Down 4
10Germany1.39No change
11Turkey1.26Down 2
12India1.02Up 2
13Cape Verde0.84Down 1
14Bulgaria0.68Up 1
15New Zealand0.54Up 14
16Greece0.53Up 15
17Barbados0.51Up 15
18Thailand0.43Up 1
19Australia0.38Up 2
20Canada0.34Down 7
21Slovenia0.22Down 10
22Montenegro0.18Up 11
23Azerbaijan0.16No change
24Malta0.15Down 2
25Hungary0.14Up 2
26South Africa0.14Up 15
27Morocco0.14Down 11
28Switzerland0.12Down 8
29Vietnam0.12Up 1
30Singapore0.11Down 22
31Sri Lanka0.11Up 13
32Mauritius0.07No change
33Romania0.07Up 9
34Tunisia0.06No change
35Ireland0.05No change
36Albania0.05Down 19
37Brazil0.04Down 14
38Philippines0.04Down 1
39Egypt0.04Down 4
40Panama0.04No change
41Latvia0.02Down 3
42Russia0.02Down 14
43Finland0.02No change
44Cayman Islands0.02No change
45Austria0.02No change
46Mexico0.02Up 2
47Poland0.02Down 11
48Colombia0.01No change
49Bahamas0.01Down 23

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Readers' comments

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  • George says:

    Trying to talk up the Cyprus Market won’t cut it. sort out the real issues rather than pretending they don’t exist.!

  • The views expressed in readers' comments are not necessarily shared by the Cyprus Property News.


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