Surge in gross sales for vacation houses in Greece and Cyprus as consumers goal EU residency shunning the UK

Leptos Estates has recorded a surge in gross sales and enquiries for high-end vacation houses in Greece and Cyprus to purchasers from the UK seeking to safe residency standing and freedom of journey throughout the EU.

Prior to now few months, Leptos Estates has remodeled €3 million price of gross sales to British-based consumers, with the bulk making the most of the Greek and Cypriot Golden Visa Programme, which affords the most cost effective everlasting residency scheme in Europe.

In 2021, the Greek and Cyprus Governments introduced essential modifications to their Residency Programmes, with Cyprus abolishing the Golden Visa initiative and reforming their Everlasting Residency initiatives.

The brand new Everlasting Residence Programme in Cyprus permits foreigners to accumulate an Immigration Allow by property funding, ranging from €300,000. This permits people to get pleasure from limitless entry to the nation and throughout the EU, which is a facet that’s proving particularly common with UK nationals since Brexit. Cyprus and Greece are additionally gaining popularity with worldwide traders as a result of different EU nations, akin to Portugal, Spain and Eire, discontinuing their Golden Visa and Residency programmes.

Greece’s Golden Visa Programme is among the final remaining of its kind within the EU and affords the most cost effective entry to the Schengen Zone. Buying a principal residence or vacation house from as little as €250,000 qualifies the client to use for residency.

The Greece Golden Visa affords lifelong everlasting residency to the applicant, which additionally extends to their partner and youngsters as much as the age of 21, in addition to the dad and mom of each the principle applicant and partner. As soon as issued, the Visa permits restriction-free journey within the EU Schengen Zone and if the candidates spend over 180 days per 12 months in Greece they qualify for an EU passport after 7 years.

Nonetheless, the Greek Authorities is predicted to lift the entry funding stage, which Leptos Estates credit for a current rise in enquiries from UK purchasers for brand new houses throughout the Greek islands.

Pantelis Leptos, Co-President of Leptos Group of Corporations, mentioned, “Cyprus and the Greek islands supply a implausible vacation house vacation spot for worldwide traders in search of a property they’ll use, while additionally offering a powerful rental return, if wanted, when they aren’t utilizing it.

“We now have at all times seen sturdy curiosity from the UK, however since Brexit the necessities have modified and we’re seeing purchasers take a extra everlasting outlook or spending extra time on the house, to allow them to utilise their Residency Visa and qualify for a everlasting passport sooner or later.

A few of the hottest vacation houses for British consumers have been throughout quite a few accomplished developments in Cyprus and Greece, with a choice for high-end houses on the island of Crete.

One of the common estates with UK nationals is Kamares Village, set on a outstanding hilltop near Paphos, which gives breath-taking views throughout the shoreline of Southern Cyprus. Kamares has lengthy been common with British expats, as a result of its big selection of high-spec villas, in addition to a thriving neighborhood.

The neighborhood’s freehold villas supply a rustic membership ambiance, with quite a few social occasions and actions organised on the Kamares membership, which is located on the coronary heart of the event. Costs for houses at Kamares Village begin from €567,000 +VAT.

Close by is the Coral Seas Villas resort, which can also be proving common with British consumers, particularly these with the next finances or in search of a house nearer to the ocean. Occupying a outstanding part of the Paphos shoreline. Set inside an unique gated improvement, these three, 4 and five-bedroom state-of-the-art seafront villas characteristic an impressive composition of design and creativity and comprise gardens, giant verandas, patios, a fitness center and sauna services, in addition to outside swimming swimming pools. Costs at Coral Seas Villas begin from €730,000 +VAT.

More and more common with British consumers, Limassol affords a cosmopolitan place to stay with practically all-year sunshine. The high-end luxurious improvement of Blu Marine affords a spot for residential, enterprise and pleasure functions, all throughout the space of town abuzz with change. Set within the coronary heart of Limassol on the seafront, Limassol Blu Marine features a number of one, two and three-bedroom residences throughout three spectacular towers, all with panoramic sea views.

A variety of facilities and companies, together with a 50-meter outside pool with panoramic sea views, a 25-meter indoor heated pool with pure mild, 1300 sq. meters. m spa space and fitness center. Underground parking, a bistro and restaurant, round the clock concierge companies, residence upkeep, property administration and rental division of the consumer’s passable wants.

Costs at Limassol Blu Marine begin from €674,000 + VAT.

The Greek island of Crete can also be the topic of elevated curiosity from the UK, with Leptos Estates’ Aphrodite Beachfront improvement in Chania, the place costs begin from €375,000 for a two-bedroom residence, attracting probably the most enquiries and gross sales.

Set on a outstanding beachfront location, the unique improvement affords a alternative of luxurious one, two and three-bedroom residences, penthouses with roof gardens, maisonettes and villas, which look onto a big communal swimming pool. Surrounded by beautiful landscaping of the gardens Aphrodite Beachfront encompasses a mild stream operating by the whole challenge that leads right down to the ocean.