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Israeli interest in Limassol flats

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Re: Israeli interest in Limassol flats

Postby Tim Drayton » Thu Oct 04, 2018 8:39 am

miltiades wrote:Welcome back Tim


Thanks, but I am not really back. I am just trying to flush out as much information as I can on the above point using all available sources. Nobody I have spoken to here in LImassol has heard of a sudden rush of Israeli buyers snapping up flats at high prices. It is very odd, but, on the other hand, an offer that is too good to refuse is precisely that. We will see what happens.
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Re: Israeli interest in Limassol flats

Postby B25 » Thu Oct 04, 2018 8:46 am

Limassol real estate is currently a bubble and will burst soon.

If you can sell at an inflated price then might be a good time to do so.

Unless these israeli's have an EU passport they can only buy a single property!!!

I know there has been some recent interest by Israel for such properties but how real it is I don't know.

If you sell, you will also pay an inflated price when you move on unless you move to a cheaper area or rent!!

Good luck
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Re: Israeli interest in Limassol flats

Postby Tim Drayton » Thu Oct 04, 2018 11:08 am

B25 wrote:Limassol real estate is currently a bubble and will burst soon.

If you can sell at an inflated price then might be a good time to do so.

Unless these israeli's have an EU passport they can only buy a single property!!!

I know there has been some recent interest by Israel for such properties but how real it is I don't know.

If you sell, you will also pay an inflated price when you move on unless you move to a cheaper area or rent!!

Good luck


Thanks for the input. I also think that there is a property bubble in Limassol - and in many other places like the UK - which is why I am keen to sell out and not to buy again until the crash comes. And if they are prepared to pay over the odds, who can argue with that. Even though rents have increased a lot in Limassol, it's still a lot cheaper renting here than in the UK, so I may well move to a rented property here for a while. I had forgotten the rule about non-EU nationals being unable to buy more than one property. You are right of course. As far as I can understand they want to buy them as investment rental properties and in some cases the demand is for more than one flat. All very strange.
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Re: Israeli interest in Limassol flats

Postby Tim Drayton » Thu Oct 04, 2018 11:47 am

B25 wrote:...

Unless these israeli's have an EU passport they can only buy a single property!!!

...


Somebody has explained that to me. It seems if they buy enough properties so the total investment is large enough to qualify under the residence for investors scheme, they can then buy as many properties as they want and rent them out.
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Re: Israeli interest in Limassol flats

Postby B25 » Thu Oct 04, 2018 1:54 pm

Tim Drayton wrote:
B25 wrote:...

Unless these israeli's have an EU passport they can only buy a single property!!!

...


Somebody has explained that to me. It seems if they buy enough properties so the total investment is large enough to qualify under the residence for investors scheme, they can then buy as many properties as they want and rent them out.


They need to spend €2m min plus a house worth €500,000+vat to qualify for the passport/citizenship.
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