The real estate and construction sector is one of the key sectors of the Cyprus economy. The living and working conditions, the benefits and investment incentives offered by the country, has generated a competitive advantage and attracted a large number of foreign buyers and foreign investors.
The acquisition of a residential property, the enjoyment of the comfortable Mediterranean climate, the incredible sunshine, the strategic location, the safety and other characteristics of the island has always been the choice for retirees and other foreigners seeking for a peaceful place for them and their families.
It is remarkable that in the last years, the country has experienced a significant increase in the demand for large scale residential, investment and infrastructure projects, including marinas, golf and theme parks, hotels and tourist resorts, technology parks and luxury residential projects. This notable trend has had a very positive impact on the economy, boosting the real estate and construction sector, which forms a significant part on the country’s GDP.