The Department of Lands and Surveys has published figures according to which the sale of real estate to foreign buyers has decreased, and with it the recovery of the Cyprus property market has slowed down.
While domestic property sales during the first eight months of 2021 (4,089) are at their highest, overseas sales over the same period (2000) have not yet recovered to pre-pandemic levels in 2018 (2,884 ).
One of the reasons for the decline in interest in Cyprus property is the closure of the residency by investment program.
If you are considering getting a residency by investment, then Portugal may be an excellent choice for you.
The advantages of the residency by investment program are especially attractive to investors:
- Straightforward and flexible investment requirements
- Extremely low minimum stay requirements – 7 days first year and 14 days following periods of 2 years
- Possibility of Permanent Residency after 5 years and nationality after 6 years
- No limitations on ownership of the selected investment
- Residency applications quickly processed
- Fully extensible to family members (with no further investment requirements)
- Freedom to travel to all European countries members of the Schengen area
- No limitation on subsequent investments or employment opportunities
- Very limited number of documents required
- Access to all Portuguese Public Services, including health and education
Find out more about Portugal investment options
Source: news.cyprus-property-buyers
