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The total value of building permits issued in the first seven months of the year increased by 49.2% and the total area by 41.6%, the Statistical Service of Cyprus reported on Thursday.
The Cyprus Golden Visa Program, which enables non-EU citizens to purchase Cypriot passports and residency permits by investing money in property and other sectors, has raised €4 billion.
The Cyprus- Chinese business ties have entered a new development stage, Chinese trade officials told a Business Forum organized on Wednesday by the Chinese Business Investors Association.
Thanks to the growing economy, new property tax incentives and the government’s golden visa scheme that offers Cyprus citizenship in exchange for cash investments, the Cyprus property market is booming.