In the previous post we have recognized that foreign buyers make up approximately one third of the real estate market in Cyprus, their numbers are on the rise, and the most significant players in this market are Russian buyers (look at all authoritative sources in English that we have cited in that post).
Let’s see what the Russian sources tell us about the real estate market in Cyprus.
The Russians started buying vacation properties in Cyprus in the 1990th. Russia is a big country, but the most part of it belongs to the cold climate areas, that’s why the Mediterranean climate of Cyprus is so attractive to the Russians. (Some other factors were also important, and still are – see below how real estate sellers promote Cyprus in Russia.)
Many things have changed since then in the world, but Cyprus is still high (or even higher) on the Russian buyers’ of real estate radar nowadays. The Russians are interested not only in residential, but also in commercial properties in Cyprus now as many Russian companies open their operational offices in Cyprus.
I’ve searched the most important Russian search engine Yandex for “real estate in Cyprus” (in Russian, of course), and there are 40+ million pages showing up for this keyword. Not all of them may be relevant as it always happens with any search. Anyway, we see that the subject is very significant in the Russian internet.
There are about 10 000 searches performed monthly for this keyword as Yandex stats confirm. If we add some other keywords as “buying villa in Cyprus”, “apartment in Cyprus”, “real estate in Limassol, Cyprus”, etc., the number of relevant to “Cyprus + real estate” searches by the potential Russian buyers would double, triple or maybe quadrupled.
Let’s have a quick look at how the Russian quest for the properties in Cyprus is answered in the Russian internet.
On one of the major Russian real estate portals for international properties you can find about 10 000 various properties for sale in Cyprus. And it’s just on one of five or six big Russian portals featuring only international properties in Russian, there are also some Russian portals with mixed – domestic and international – properties, and multiple pages with properties in Cyprus on the Russian realtors’ sites.
So, here’s the summary of advantages that Cyprus offers to the foreign buyers of real estate in the country (namely, to the Russian buyers), according to some Russian sites:
-High standard of living with stable economy and low crime level
-Warm weather and sea
-Possibility of getting citizenship while purchasing properties over some price (which the government of Cyprus regulates) with all the privileges of the European Union passports
-English schools for kids
-Russian is widely spoken in stores, restaurants and other service establishments
By the next time I’ll find (and translate into English for you) the best property descriptions in Russian that beat others by showing high for the eyes of the potential Russian buyers of properties in Cyprus.
Happy blog reading,
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