The recent amendment of the tax law providing a decrease of 50% in the Immovable Property transfer fees as well as registration of any lease or sub lease until the 31st December 2016, is to positively affect the real estate sector. Additionally, this new amendment also includes the possibility for decreases on the mortgage, a very attractive fact for foreign investors since banks, financial institutions or companies will have the opportunity of the attainment of non-performing loans at negotiable prices.
The above fertile investment environment constitutes Cyprus as a very attractive option for a second home to many investors.
Another very important fact, is the essential agreements between Cyprus and other countries such as the double taxation treaty between Cyprus and 58 other countries including China, Russia, Malta. Qatar, Iran and Canada . This agreement is designed to safeguard the investor from any possible risk that may occur as such agreements lead to the fact that the companies registered in Cyprus that are, in effect beneficiaries to tax exemptions in Cyprus, will be enjoying the same benefits in the treaty countries as well.
Cyprus, apart from its strategic geopolitical position and its natural beauty, will continue to attract business people to settle and incorporate their own business in our island due to the above mentioned benefits .
Reputable and established developers, such as Constantinou Bros Properties, have numerous developments that may respond to the various needs of the market. From upscale luxurious villas reflecting a unique lifestyle in the upskirts of Paphos, to townhouses and apartments right in the heart of the busiest touristic area of Paphos, these high quality developments are bound to leave their owners contented with the feeling of making the right investment. Assistance from the beginning up until the delivery of the property and beyond, is readily available at all times. Our team of professionals as well as our Customer Care team are always ready to listen, provide solutions and options to our customers ,always keeping in mind their best interest. Once a buyer agrees to a certain property, we will be arranging a complimentary stay in one of our hotels for three nights for a tour of our properties as well as of our clients’ future home which is Paphos.
Cyprus’ real estate plans, such as the urban planning policy which focuses on the re-development of the rural areas as well as the promotion of large scale developments to contribute towards the economic recovery of Cyprus, promise an even more fertile ground for investment in our island.
Apart from a popular business hub due to our islands’ location between three continents, the friendliness and openness of the Cypriot people is an additional very important advantage that facilitates not only the business dealings but also the commencement of a new life in our island.