Real Estate: The blooming industry is a priority of investors
The economy of a country is usually based on various sectors, depending on each jurisdiction’s characteristics and trends. Governments build their investment plans around those particular sectors in order to attract investors and further improve the overall financial stability of their country.
On the opposite side, investors looking to expand their business and invest in a thriving jurisdiction, must take into consideration a number of factors before making their decision where, when and how to invest. For that reason, there are specific questions to be answered beforehand, such as what their main goals are when looking for investment opportunities, what industries are blooming at that particular jurisdiction etc.
The investment decision is not an easy task and sometimes involves risk and all things considered, the sole purpose of every investment is capital increase, either on short-term or long-term basis.
Being a European Union member state and a widely recognized business hub, Cyprus offers various investment opportunities in a number of industries.
However, Real Estate industry in blooming in Cyprus and has been for the past few years, offering numerous opportunities for investment along with the traditional investment opportunities in tourism, shipping etc.
The Cyprus Investment Programme is a significant booster which, when successfully implemented, encourages foreign direct investments (FDI) and attracts High Net Worth Individuals to settle and conduct their business activities in Cyprus. Today, there are numerous attractive opportunities in real estate all over Cyprus, both on commercial and residential units, that promise a relatively secure initial capital investment, an excellent Return on Investment (ROI) and capital appreciation.
Tourism is the second strongest industry with various investment opportunities due to the excellent weather conditions in the island and of course, past investments to further develop the tourism sector in Cyprus. This particular industry is quite competitive and is constantly upgraded offering investment opportunities classified as premium, especially when large scale projects are involved.
According to the World Data Atlas, “In 2017, the contribution of travel and tourism to GDP for Cyprus was 22.3 %.”
Additionally, Deputy Minister of Tourism, Mr. Savvas Perdios, has stated that “the tourism industry has the long-term potential to contribute to Cyprus’s economy by 25%.”
Being a small island with two major ports, Cyprus offers high quality shipping services renowned for its appealing legal framework and trustworthy operational infrastructure. The solid foundations set have established Cyprus as the 3rd largest ship management jurisdiction in Europe with a substantial share in the worldwide merchant fleet market.
Taking everything into consideration, Real Estate is top investment in Cyprus with countless opportunities for development and financial boost and should be top priority for every investor.