London Daily News: Record Tourism levels driving Property Boom in Cyprus
Leading international developer Leptos Estates has seen a substantial increase in the number of people travelling to both Cyprus and Greece from the UK has led to a rise in enquiries from those looking to buy their perfect luxury seafront villa, either as a holiday home or as an investment for the future.
According to the Cyprus Statistical Service (Cystat), a total of 3.09 million tourists arrived in Cyprus during 2022 up nearly 68% from the previous year. The number of international tourists to Greece nearly doubled in 2022, totalling just under 30 million and visitor numbers are expected to exceed 4.5 million in 2023.
Cyprus is one of the oldest civilisations in the world and attracts travellers from all over the world looking to experience the blue waters of the Mediterranean, enjoy the best food and for a better quality of life.
Living close to the sea has always been regarded as providing a number of different health benefits,
Paphos is considered to be one of the most desirable locations in Cyprus and Coral Seas Villas in Coral Bay and winner of Europe’s Best Interior Design Show Home in 2019, is perfect for those with a higher budget and looking for opulence and sophistication.
These detached three, four- and five-bedroom seafront villas in Paphos within an exclusive gated development offers extensive landscaped gardens, large verandas, a state-of-the-art gym and sauna facilities, all within walking distance of the Mediterranean Sea. This development is proving particularly popular with purchasers from the MENA. Prices at Coral Seas Villas start from €699,000 +VAT.
Viglia Beachfront Villas offers outstanding views of the mountains and is one of the most breathtaking developments situated at the westernmost side of Crete. Steeped in history, Crete was the centre of Europe’s first advanced civilization.
These detached luxury 3-bedroom villas located within an exclusive beachfront development consists of 16 individual villas each one with it own unique character. Varying in size from 1,500 to 2,000 square metres, they provide an exclusive development in a quiet residential area with easy access to all amenities. Prices for homes at Viglia Beach Villas start from €1.25 million +VAT.
Pantelis Leptos, Co-President of Leptos Group of Companies, said, “Cyprus is the perfect place to live and renowned for its fabulous beaches which draws people from all over the world. There is so much to enjoy here, from nightclubs, to Europe’s Biggest Casino, a cruise terminal and lovely nature including snow in the mountains in winter where you can Ski.
“With the increased level of tourism being experienced, Cyprus is well placed to provide opportunities for luxury living or for buying an investment property that will yield a regular income”. Consistent rental returns & capital appreciation.”
The new Permanent Residence Programme in Cyprus permits foreigners to acquire an Immigration Permit through property investment, starting from €300,000. This allows individuals to enjoy unlimited access to the country and across the EU which is proving popular with purchasers from the MENA. Cyprus and Greece are becoming extremely popular with those wanting to buy luxury property or looking for investment opportunities and seeing increasing interest from the MENA region. Leptos Estates are the number one developer in Cyprus and have a specialist support team to assist international investors to secure the right property.
The Greece Golden Visa offers lifelong permanent residency to the applicant, which also extends to their spouse and children up to the age of 21, as well as the parents of both the main applicant and spouse. Once issued, the Visa allows restriction-free travel in the EU Schengen Zone and if the applicants spend over 180 days per year in Greece they qualify for an EU passport after 7 years.
However, the Greek Government is expected to raise the entry investment level, which Leptos Estates credits for a recent rise in enquiries from investors and those seeking a luxury property.
Contact Leptos Estates on Tel: +357 26880120 (Cyprus), +30 28210 20830 (Greece), +44 7874093174 (UK), or visit: www.leptosestates.com