Since the beginning of March 2020, according to Golden Brown Cyprus analytics department, the number of Russian requests for Cyprus real estate has increased by 30%.
Buyers are looking for options for remote work, as the current crisis has finally proved that binding to the office is optional and it is possible to work effectively and conduct business remotely. According to experts, this is why real estate with sea views is in great demand within walking distance from infrastructure facilities in the price category up to 300 thousand euros. For example, a villa in a suburb of Paphos will cost the buyer approximately the same amount. Investments also provide the possibility of accelerated registration of a residence permit.
Demand for real estate has intensified in the price category of up to two million euros, which allows you to take part in the passport program. Despite the scandals with the return of passports and the complication of the rules for participation, it is still popular.
As noted in the materials provided, the Cypriot rules allow you to conclude transactions remotely. According to the CEO of Golden Brown Cyprus, the procedure for drawing up contracts has already been worked out and is being carried out through the embassy and consulates of the Republic of Cyprus in Russia.
“The Cyprus property market allows you to conclude transactions even remotely. In addition, the crisis forces us to actively introduce new tools for demonstrating customer objects, such as panoramic shots, online video presentations, shooting from drones, and so on.”
Interest in overseas property is also fueled by developers who are ready to provide discounts of up to 25% for distance transactions. In recent months, many have also rushed to look for buying options with a mortgage.
According to Golden Brown Cyprus forecasts, the full recovery of the Cyprus property market to the 2019 figures will occur in a year. The time period will depend on the actions of the government and the support it will provide to the construction sector. Construction work in the republic was restored on May 4.
Source: stroygaz.ru photo: m.dp.ru