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Cyprus real estate market offers a lot of classic “houses in the skies.” The location on the first coastline of Limassol and in the business districts of Nicosia makes this type of real estate very attractive for both investment and personal residence.
Sotheby’s International Realty broke its own records in 2019 as measured by global sales volume, web-site traffic and media exposure. Web-site traffic saw another record year with more than 34 million visits, a 14 percent increase year-over-year.
More than twice as many property sales were made to non-EU citizens than EU citizens as compared to January 2019. Of the total number of sales contracts 56% were deposited by local (Cypriot) purchasers and the remaining 44% were deposited by foreign buyers. Of 44% contracts of foreigners 14% were made by EU citizens and 30% by non-EU citizens.
Nobody could have predicted that this little Mediterranean country would recover from the toughest crisis so quickly and effectively, and yet, it has just taken another step to confirm that it has a stamina and integrity by repaying this loan ahead of time.