The Cyprus real estate market has always been highly attractive to foreign investors and lifestyle purchasers due to the beautiful natural surroundings, highly developed infrastructure, ideal location and attractive tax system amongst other reasons. Over the past three years, the Cyprus economy has witnessed considerable growth, this can be attributed to the significant activities in the shipping, tourism, oil and gas, and financial service sectors. The real estate market has also seen significant growth, particularly for high-value properties. According to official land registry statistics unit sales to foreigners rose by 34% in 2016 compared with 2015, while H1 2017 saw a 106% increase over H1 2016.
The figures also show that 92% of property transactions with a value over €1.5M occur in Pafos and Limassol. As with all markets, prime properties, including seafront and integrated resorts, offer the best value and security of investment. To enhance FDI, the Cyprus government has introduced several tax incentives, for example, properties subject to VAT are exempt from transfer fees, while first time investors can benefit from a reduced vat rate of 5% instead of the prevailing rate of 19%. What’s more as of 1st January 2017 immovable property tax has been abolished. It’s an excellent time to invest.
ONE, the tallest seafront residential tower in Europe
ONE occupies an unrivalled prime seafront location in the city of Limassol, at the point where 28th October reaches its most advantageous – an address that embodies exclusivity.
The sea and beach lie on its doorstep, while its city aspect fronts the lively business quarter, this unique locality gives ONE a high value address unmatched in the city.
ONE is 37 storeys of design intelligence, a pioneering landmark for Cyprus that has been designed and is being realised by a team of internationally renowned experts including Atkins, WKK and HBA. The development offers 83 ultra-luxurious residences, each with uninterrupted sea views and exclusive access to exceptional facilities, amenities and service.
ONE offers the ultimate Limassol address
Minthis Hills, The most exclusive Golf Resort in Cyprus
Combing the virtues of nature with sophisticated living, contemporary architecture and mesmerising views, the acclaimed master planners Atkins and celebrated Architecture firm Woods Bagot, have created a resort where you can unwind, relax and indulge in the pleasures of contemporary living. Situated on a Natura 2000 protected site which spans five million square metres, Minthis Hills enjoys a breathtaking hillside location with incredible views.
The resort offers exceptional facilities which include an 18 hole championship golf course, which encircles a twelfth century monastery, exquisite clubhouse and restaurant, nature trails, mountain bike paths, tennis academy.
The Minthis Hills residences exude uninhibited elegance, inspiration was drawn from traditional Mediterranean architecture, characterised by open spaces, water features and private courtyards. Reflecting Cypriot character and style, they incorporate traditional stone and rich wooden detail. Several design styles are available; each is customisable to the purchasers’ lifestyle requirements.
In addition to the above flagship developments, Pafilia has a vast and varied portfolio across the southwest of the island, the area most popular for foreign investment.
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