Yair Bushari points out that the excessive costs of an apartment in Israel make many Israelis look for land choices abroad. Cyprus has specific and unusual centers that are worth considering in real estate investments and make it a tempting target for investors.
Yair Bushari, the owner of BDP Real Estate Investments Ltd., explains that the island of Cyprus is close to Israel in an exceptionally close way, so it is a recommended business place for Israeli investors and entrepreneurs. Cyprus’s tax collection strategy (low capital add-on debt of 20% and corporate charge at 12.5%) is attractive and attractive, a wonderful climate, a country in the EU, and especially, the large cluster of amazingly costly lofts and properties with growing and consistent yield patterns over the past few years. All of the above makes Cyprus an important destination for financial investors looking to purchase land or property overseas.
The housing market in Cyprus recently
When it comes to carrying out the venture abroad, the Cypriot economy, which integrates the housing market, has shown a steady steadfastness in everything and anything.
Property costs in Cyprus are considered modest because it is possible to find property options at a low price of NIS. 500,000. The economy of Cyprus is known to be strong: the nation has rarely encountered a financial emergency and its unemployment rate is insignificant.
In 2003, Cyprus joined the EU and in 2008, became part of the EU that had previously enlisted, and adopted the euro as money. In 2013 the banking circle in Cyprus encountered a deep state of emergency because of its commitment to the European Union however from that point on, the small nation actually recovered.
In fact, properties in Cyprus have been acquired over the past few years, mainly by English, Russian and Chinese residents (who are mostly financial backers). For their purposes, Cyprus was the ideal retirement area. These acquisitions over the years have made the housing market in Cyprus very attractive, despite financial emergencies in various regions such as Greece for example. Since 1995, the housing market in Cyprus has been experiencing a consistent and surprising development, with new commitments being collected every year. The relocation of Chinese and Russian financial investors has resulted in higher popularity levels, especially in the more prominent Paphos, which was considered a preferred place by populations coming from abroad aged 40 and over, and for families with children.
Yields have expanded in lofts recently
The development of income presented by financial backers from Israel, the United Kingdom, and Russia depends on three significant standards in the field of land interest in Cyprus: value, yield, and tax assessment. In each of these, Cyprus offers the best results for financial backers.
The rate of return on Cyprus land can reach up to 5.5% per annum. Assuming this and between, for example, the speculation market in Israeli real estate, we will notice that an interest in Israel will generate only about 5% return.
The Nicosia Public Authority clearly supports the assistance that stimulates financial investors, whether by providing work visas or European identification elections, and incredible tax breaks for organizations and companies. At the same time, financial plans for promotion in the Cypriot travel industry have expanded and are helping investors.
Cyprus enjoys proximity to Israel
Many Israelis are in favor of buying an apartment abroad and not buying in Israel because of the large prices. For comparison, for the price of a 2-room apartment in central Israel, it is possible to buy a loft in Cyprus.
At the same time, in recent years we have seen a growing number of Israeli companies building apartments in Cyprus, such as BDP Real Estate Investments Ltd. managed by Yair Bushari, as well as a growing number of Israeli private investors buying investment properties in Cyprus.
The reason? Not only the advantages mentioned above but because of one very clear advantage for the Israeli investor: the sacrifice. Cyprus is only a 45-50 minute flight from Israel and is a perfect investment.