The British are forced to sell their homes in Cyprus massively

Британцы вынуждены массово продавать свои дома на Кипре
21 December 2020 DOM LiVE
1359 0

In addition to the coronavirus pandemic, which has dealt a significant blow to the Cyprus property sector, the housing market may face another equally severe shock shortly.

The fact is that due to innovations within the framework of "Brexit," from January 2021, the British, who owns a considerable amount of real estate on the island, will be able to stay in Cyprus for no more than 90 days in half a year.

In other words, they will be subject to the common European rule as for all property owners who are not EU citizens. It means that many Englishmen will lose the opportunity to reside in Cyprus permanently.

In this regard, experts predict that in 2021, the British, who own housing on the island as a second home, will be forced to sell their property massively. Undoubtedly, this could bring down the local real estate market even more.

It is worth noting that the British who own real estate on the island can receive the MEU1 certificate, which allows them to become a resident of Cyprus and avoid the new restriction. On the other hand, it will change their status as taxpayers in the UK and disqualify them from using the UK's free National Health Service.

Those who prefer to stay in Cyprus for more than 90 but less than 183 days a year will not be affected.


Британцы вынуждены массово продавать свои дома на Кипре

I must say that many Englishmen who own housing in Cyprus have certain burdens in the UK - relatives, children, work. At the same time, they have invested in Cyprus property.

Many of the British claim that the new rules mean that the only alternative available is to become a Cyprus resident, which is highly impractical for most of them.

The British complain that they were treated unfairly and demand that the law be reviewed in favor of the British who own real estate on the island. They even created a particular group with which they are trying to defend their rights.

Source: cyprus-mail.com
Photos: pixabay.com
No one has left a comment yet
Place qoute
Interesting offers

Villa for sale in Limassol

€ 3 300 000

Villa for sale in Limassol

€ 1 190 000

New duplex in an elite complex

€ 572 000

Buy apartment in Limassol

€ 4 500 000

Villa for rent in Limassol

€ 12 000

House with sea view

€ 265 000

Penthouse for sale in Limassol

€ 365 000

Hotel for sale in Paphos

€ 1 350 000

Buy penthouse in Limassol

€ 695 000

Villa with sea views in Pissouri

€ 1 450 000
Компания «Dom Real Estate» Контакты:
Адрес: Limassol, Cyprus,
Телефон:+357 25 212 212, Электронная почта: i[email protected]