Cyprus property news

Select Resorts International Director visits Cyprus, features in The Times

05 October 2018
Michael Reilly

Select Resorts Properties, featured in The Times today, following a recent visit to Cyprus by our International director, Georgina Reilly, accompanied by two of the leading International real estate journalists from the United Kingdom.  The vist covered some of the key developments on the island, including visits to view property in Aphrodite Hills, as well as some of our favourite developments such as Minthis Hills.  

The trip managed to cover a variety of pricing options from €350,000 up to €2m, which highlights both the range of properties available and also the varying motivations of buyers of property in Cyprus.

With year round sunshine, and its geographic closeness to the United Kingdom, Russia and the Middle east, Cyprus has seen tourist numbers soar by 12.4 per cent in the six months from January to June 2018.

Two incentives introduced by the Cypriot government since 2013 have been popular — one offers a residency permit with a property purchase of at least €300,000 (the golden visa), and the other gives EU citizenship, with property investment of €2 million (on one or several homes). “This demand has helped to push up the property prices in new-build resort projects,” says Georgina Reilly, the international director of Select Resorts Properties, a UK-based company that sells across Cyprus. “Our typical British buyer likes the climate, the ease of access and the safe, tax-and-pension-friendly environment, and spends from €500,000 to €1 million.” 

You can read the article in full here

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