According to the forecast of the European Commission in 2018 and 2019 a serious growth of the economy of Cyprus is expected (GDP growth of the country is 3.6% and 3.3% respectively). In turn, the Ministry of Finance of Cyprus forecasts economic growth at 4% this year and 3.6% in the next. The most optimistic was the Hellenic bank, which predicts a growth of 4.2% this year. All these structures agree that the main factors of economic growth are: — Increased demand in the domestic market of Cyprus; — Reduced unemployment to 9.2%; — The low inflation rate is 0.5% and 1% in 2018 and 2019, respectively.
The main risks are the following factors: — High level of indebtedness; — unemployment; — High level of state debt (in relation to GDP). The above factors make the Republic’s economy vulnerable in the event of any external shocks or delays in ongoing reforms. Nevertheless, experts are confident in the steady economic growth of Cyprus. At the same time, this year the government debt is expected to increase, but in the next year it will decrease.
At the moment, the real estate market in Cyprus is very active, with a good response from buyers: houses and apartments with an optimal price-quality ratio diverge quite quickly. Timely investment in Cyprus real estate opens up the possibility of business diversification and guarantees a stable income. Taking into account the time factor, popular wisdom […]
Grounds for obtaining a Pink Slip in Cyprus for foreign citizens. To obtain a Pink Slip residence permit in Cyprus, at least one of the following conditions must be met: In order to obtain a Pink Slip residence permit with the possibility of its subsequent extension, it will be necessary to submit the relevant documents […]
If this is your first transaction in Cyprus, it is better not to take risks and act through a realtor or organization. You can contact our experts for advice and direct assistance. Remember that the independent execution of all papers is a long, complicated and often incomprehensible process. Documents in a foreign language are perceived […]
Buying a property is still the most profitable investment in Cyprus. This is because local residents have no other alternatives where they could invest money. By the way, interest rates on deposits remain at a very low level: 1.29% for individuals and 1.27% for legal entities. In turn, the Cyprus Stock Exchange also offers a […]
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