What is the Maximum Sized Property for Minimum Investments under the Cypriot PR Program?
A 110 m2 centrally located property in Limassol.
Cyprus Residence Programs offer investors the ability to reside in Cyprus, through purchasing a residential property of a minimum value of €300,000 (plus VAT). The investor(s) families are also eligible to apply and obtain a permanent residence in Cyprus.
As the country’s economic and tourism center, Limassol is always on the top of the investor’s lists, despite it not being the capital of the island. With this minimum investment amount, one can afford a 110 m2 property that is located in the central district of the city with the market price of €2,735 per square meter.
According to Investment Migration Insider, property prices in Limassol are in the mid-range amongst the 5 EU countries that offer residence by investment programs via the real estate investment opportunities, which can solely lead to the residence applications without other investment requirements. The breakdown of these countries includes,
Spain, Madrid -- €5,244 per square meter against a minimum investment amount of €500,000
Portugal, Lisbon -- €4,276 per square meter against a minimum investment amount of €500,000
Cyprus, Limassol -- €2,735 per square meter against a minimum investment amount of €300,000
Latvia, Riga -- €1,816 per square meter against a minimum investment amount of €250,000
Greece, Athens -- €1,723 per square meter against a minimum investment amount of €250,000
As you will note, in terms of property price, Cyprus is not the cheapest option amongst other EU countries. This is due to the uplift of the economy, growth of the real estate sector and the increase in the number of foreign investments. Property prices should not be the only defining factor when considering residence and relocation, as every country offers different benefits to investors.
Find out which residence program is more suitable for you and your family, contact us now to have a further discussion.