Russians rushed to buy property in Cyprus

Россияне бросились скупать недвижимость на Кипре
6 May 2020 Maxim Arte

Due to pandemic, most of foreigners, including Russian citizens have become more interested in buying foreign real estate, especially in Cyprus – according to Golden Brown Cyprus.

Since the beginning of March 2020, the number of Russian requests for real estate in Cyprus has increased by 30%, analysts estimated. Look for options of moving to “Island of love” because of the mode of self-isolation in large cities of Russia. The current crisis has shown that it is possible to work effectively and conduct business remotely, experts explained.

According to their statistics, the most popular among Russian are property in Cyprus with sea views, within walking distance from the necessary infrastructure. The most popular budget up to 300 000 EUR (it is enough to buy a villa in Pafos suburbs or an apartment in Limassol) and up to 2 000 000 EUR (it gives a chance to participate in passport program). In recent months, many people have rushed to look for buying properties involving mortgages. According to the Cypriot rules, it is possible to conclude all deals and transactions remotely.

The procedure of registration of contracts already fulfilled and carried out through the Embassy and consulates of the Republic of Cyprus in Russia.

Earlier in March 2020, analysts said that wealthy Russians will become more active in buying foreign properties. And this forecast is coming true.


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