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Chinese developers set sights on Cyprus

By Juwai, 30 January 2013
Property Showrooms

Chinese developers are chasing Chinese buyers to Cyprus, buying land or entering joint ventures with local developers to build homes for Chinese people.

Cyprus has been successful in attracting Chinese buyers and investors, thanks to its relatively relaxed immigration law granting permanent residency to anyone who spends €300,000 on a property and has an income of at least €30,000.

By the end of 2012 it is reported that Cyprus had received nearly 600 applications from Chinese investors looking into developing property within the country.

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