7 Q2 2021 BUILD investors is the volatile exchange rate as this has a very real and direct impact on the actual cost of the investment. Timing is crucial in this aspect of investing offshore and if the investor is too conservative or waiting for a currency to strengthen, they could lose out on a good opportunity. Fortunately, our Forex partners have alert systems in place so that our investors can trade when their currency hits a favourable mark”. Despite the outbreak of COVID-19 leading to many investors being unable to travel to Cyprus, the property industry has managed to succeed in other ways as Jenny points out. “The volatility of certain currencies against a strong Euro has resulted in existing clients investing in additional properties as they understand the value of bricks and mortar, and the importance of safeguarding their offshore investment due to the favourable tax structures here in Cyprus. Moreover, as Cyprus has no inheritance tax, low capital gains tax and a very low personal tax structure, property owners can enjoy a decent Euro-based income from both long term and short-term tenants”. Finally, Jenny gives us a brief overview of the European property industry before outlining some of its plans for the future. “Europe remains a preferred geographic location for many investors to own an offshore property with its positive economic growth, decreasing unemployment rates and ongoing political stability. In Cyprus there are two international airports and several marinas, so this combined with the fact the country is economically stable has had a major influence on the demand for properties. The Mediterranean lifestyle is all about scrumptious cuisine and enjoying life to the full, so naturally people are looking for properties which will offer exceptional value. The key benefit of buying a property in Cyprus is the safety aspect as its regarded as one of the safest countries in the world. Making the investment in Cyprus is easier than people think due to the generous exemption of import duties, excise duties and VAT to bring one’s personal effects to Cyprus for their relocation. Moving forward, in addition to exploring different markets to expand our value proposition in real estate sales, our property management division Cypriot Realty Rentals is planning to expand to other cities within Cyprus. Currently we operate in the western city of Paphos. Additionally with a website booking and management service, our priority will be to ensure each property is guest-ready and meets our very high standards”. Company: Cypriot Realty Contact: Jenny Ellinas Email: [email protected] Web: www.cypriotrealty.com Address: 35 Taxiarhon St, Universal, Paphos, 8036, Cyprus, PO Box 61806, Paphos, 8138, Cyprus Phone: +35796592444 Q2 2021 BUILD 7
RkJQdWJsaXNoZXIy NTY1MjI4