The different needs of foreign property buyers in Cyprus, investment opportunities, and the role of quality of life in attracting international interest were at the centre of the panel “Investing in Property / Real Estate in Cyprus”, held as part of the 8th Cyprus-Israel Business & Investment Summit in Tel Aviv.
The discussion featured Arina Rada, Head of Partner Relations at bbf:, and Kostas Soteriou, Chief Executive Officer of DOMO, who presented the characteristics of the Cypriot market and the options it offers to buyers from abroad, with particular reference to the Israeli audience.
As highlighted, foreign property buyers in Cyprus can be divided into two main categories. The first includes those primarily interested in investment, while the second comprises those seeking property for personal residence, holidays, or to house their business and employees.
The speakers referred to the different buyer categories and to the characteristics of demand in Limassol, Larnaca and Paphos, underlining that the market serves both investment needs and personal and business purposes.
Cyprus: A familiar destination for Israelis
Particular reference was made to the Israeli public’s familiarity with Cyprus’ property market, both in the residential sector and in commercial properties and office space.
The presence of large communities of Israelis living and working in Cyprus strengthens the connection between the two markets and makes the country a familiar destination for those considering purchasing property for personal use or business activity.
The discussion also presented the lifestyle in the three cities, with emphasis on the characteristics offered by Limassol, Paphos and Larnaca. Quality of life for families was highlighted as one of the most important reasons for acquiring property in Cyprus.
Combined with other advantages, such as tax incentives, quality of life helps explain the growth of the property market and demand from foreign investors.
From luxury homes to comfortable living options
Another point highlighted was the development of different market segments. Cyprus records activity both in high-end and luxury real estate and in mid-level properties offering comfortable living conditions.
The coexistence of these options allows the market to cater to buyers with different needs and financial means, whether they are seeking a family home or a property for investment purposes.
Residential and commercial property: Different opportunities
Participants also examined the differences between investments in residential and commercial property, placing emphasis on the opportunities presented by each category.
In this context, rental returns and the factors shaping demand were discussed for both homes and commercial premises. The assessment of the two categories is linked to the purpose of the investment, the type of property and the needs of prospective tenants.
Overall, the panel highlighted that the Cypriot property market appeals to a broad range of international buyers. For the Israeli audience, the ability to combine investment options, business establishment and quality of life is an important part of Cyprus’ image as a property-buying destination.
Sponsors
The summit is being held in collaboration with Invest Cyprus.
Platinum sponsor: Eurobank
Sponsors: Alpha Bank Cyprus, Bank of Cyprus, bbf:, CYFIELD, DOMO, PwC Cyprus, K. Treppides & Co Ltd
Exhibitors: Aristo Developers, City of Dreams Mediterranean, D. Zavos Group, St. Chara Developers
Supporters: Nobel Trust, Ioannides Demetriou LLC
Media sponsors: CBN (Cyprus Business News), GOLD, IN Business
Organiser: IMH
