Cyprus, a stunning island in the eastern Mediterranean known for its crystal-clear waters, pristine beaches, and natural beauty, has become a hot spot for both tourists and global real estate investors. This Mediterranean gem has recently risen to prominence as a leading destination in Europe for securing Permanent Residency (PR). Leptos Estates, a leading real estate developer in Cyprus, is inviting Indian investors and global travelers to explore this unique opportunity.
Cyprus stands out as the last EU country offering an affordable path to PR, with a minimum property investment requirement of €300,000 plus VAT. This makes Cyprus a particularly attractive option for those seeking a European residency program at a more accessible price point. This is in contrast to other European countries like Greece, which has significantly increased the cost of its Golden Visa Program. The price for Greece’s Golden Visa Program has jumped from €250,000 to €400,000, and in high-demand areas like Santorini, Attica, Thessaloniki, and Mykonos, real estate investments now require a substantial €800,000.
Leptos Estates, with over 60 years of experience in residential, commercial, and holiday properties, has witnessed a surge in interest from real estate investors and tourists in both Cyprus and Greece. In Greece, property sales to Indian buyers have seen a remarkable 37% increase in recent months. Sanjay Sachdev, Group Marketing Director at Leptos Estates, highlights the significance of Cyprus’s affordability: “While countries like Ireland, Spain, and Portugal have closed their real estate investment programs, and Greece has significantly raised its costs, Cyprus remains the final destination offering an economical Plan B. We encourage Indian investors and homebuyers to seize this unique opportunity.”
Cyprus has become a preferred holiday destination for travelers from various regions, including Asia, the Middle East, the UK, and Israel. These visitors are drawn to the island’s sun-kissed beaches and relaxed coastal lifestyle. According to data from the Cyprus Statistical Service, over 2.2 million tourists visited the island between January and July of this year, marking a 3.1% increase compared to the same period in 2023.
Strategically positioned at the intersection of Europe, Asia, and Africa, Cyprus offers a high quality of life, year-round sunshine, and appealing business and investment opportunities. The Cyprus PR card provides numerous benefits for its holders, including free government education and healthcare, as well as simplified travel to Schengen countries for the cardholder, their spouse, and children. Additionally, investors can enjoy strong returns on their investments through rental income and capital appreciation, all within a tax-friendly environment.
Leptos Estates offers a diverse range of properties eligible for Cyprus PR. Some of their top developments include Venus Gardens, a distinctive residential resort near the Paphos coastline; Coral Sea Villas, a collection of freehold seafront villas in a prime location in Paphos; and spacious apartments at Limassol Park, surrounded by lush greenery. These properties offer a variety of options for investors seeking to secure their future in a thriving Mediterranean paradise.
