The crisis in Cyprus is not scare Russian investors

The crisis in Cyprus is not scare Russian investors

Economic difficulties in the euro do not scare Russian citizens. In contrast, direct investments of Russian citizens are constantly growing. This trend can be seen in Cyprus - in 2012, investment in the real estate market of the country reached 1,5 billion euro.

In bank accounts in Cyprus is more than 26 billion of Russian money, in this time an annual GDP in the country is 17 billion.

Russian buyers remain steady customer in the segment of luxury property in Cyprus. According to Peter Christofi, representative of real estate agency Antonis Loizou: «In the segment of real estate, ranging from 500 euro to 2 million euro, market is fully occupied by Russian investors and a small proportion of European buyers. The most expensive housing, worth more than 2 million, attracts Russian buyers and CIS countries. "

Cyprus has a population of more than 50 thousand Russian citizens – it is 5% of the all island's population.

Investors are also attracted by the fact that investing in real estate in Cyprus more than 300 thousand euro gives to buyer the opportunities to qualify for a residence permit.