Recent years have seen an active movement between Israel and Cyprus, where a large number of Israelis have moved to live temporarily or permanently in Cyprus, and some have left Palestine to settle in Cyprus, in what looks like immigration, where everything is there: scenic landscapes, vibrant cities , Luxurious restaurants, wonderful beaches, comfortable tax policy, and low cost of living. All this is accompanied by a guarantee of citizenship, all achieved after a 40-minute flight from Israel to Cyprus.
The Israeli press turned to this expanding phenomenon, and began to prepare investigative reports on the matter.
It is not surprising that more Israelis each year buy the dream home in Cyprus and make the neighboring island their second home or main residence, says The Marker, an economic newspaper for Haaretz.
The security of Cyprus, tranquility and low cost of living, coupled with the calm and welcoming nature of Cyprus, make the country comfortable and enjoyable, and the Israeli population is desirable.
"We meet a few Israelis who buy summer homes for their families," says attorney Lynn Yodz, owner of a real estate company. "There are villas near the sea or on the hillsides with stunning views of the water line, lush green gardens with private pools and careful planning. All this beauty at affordable prices and excellent conditions. Advance planning can simply book a trip and within 40 minutes to get there."
Prices in Cyprus are considerably lower than those in Israel, with high returns due to a year-round tourism boom and rising demand for short-term holiday rentals. This allows the combination of a house that can be rented for tourist purposes or personal use for special purposes, coupled with lower costs of purchase and maintenance of property compared to its Israeli counterpart, the high level of construction and high quality of European life.
“Cyprus has it all, with wild nature, a sunny island surrounded by beautiful beaches, historic sites and even a vibrant sports scene outdoors, and when you think about it all you get the perfect holiday. Residential real estate investment on the island more profitable. "
It should be noted that real estate prices, especially houses and apartments, are much lower than in Israel. Sometimes an average of 60% or more.
Another advantage of real estate investments in Cyprus is the tax exemption from rental income up to the legal ceiling. Cyprus also grants residence to anyone who has invested 300,000 euros or more in residential property in Cyprus, in addition, the spouse, children and parents of both spouses are entitled to residence. This means that investing in residential property in Cyprus can give the whole family permanent residence on the island, even a passport in the European Union (with investments of 2 million euros or more), without having to reside or stay on the island, and without a complex bureaucracy.