Increased Interest of Chinese property investors in Cyprus Property
- Oct 3, 2016
- 1 min read
Chinese property investors are attracted to Cyprus due to the offer of passports / Nationality and a recovering economy and are catching up with Russian property investors when it comes to Cyprus (E.U.) Passport / Nationality.
The Cyprus (E.U.) Passport / Nationality Program and a recovering economy are attracting Chinese property investors to Cyprus. Chinese property investors are fast catching up with Russians when it comes to the Passport / Nationality Program.
Whereas Russians already have established communities and business presence in Cyprus, Chinese property investors keep a much-lower profile. That does not mean Chinese property investors are not contributing to the economy, however. Chinese property investors have been investing in hotels, for example.
Chinese interest in property investment abroad had been fueled by the currency devaluation a year ago in an attempt by the central bank to boost the country’s exports. Low interest rates in the US and EU have forced Chinese property investors to explore less-traditional options like Cyprus. Chinese property investors have closed deals on overseas assets worth $157.2 billion so far this year, according to Bloomberg.
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