The housing market in Cyprus is on the rise with a high demand for both residential and commercial real estate. If you are looking to invest, then Cyprus should be at the top of your list! However, what has recently made a splash in the world of investing is cryptocurrencies – digital money that can be used to buy real estate all around the world. The good news is that it's possible to purchase property in Cyprus with crypto as well! In this article, we'll discuss five reasons why you should invest in Real Estate in Cyprus using cryptocurrency and how you can do so.
5 Reasons Why You Should Invest In Real Estate In Cyprus with Crypto
1. Attractive Tax Benefits: There are several attractive tax incentives available when purchasing or selling real estate in Cyprus. For instance, long-term capital gain tax and transfer fees on property purchases can be reduced to a minimum, and foreigners making real estate investments in Cyprus are eligible for a permanent residence permit.
2. Excellent Return On Investment: Investing in real estate in Cyprus will give you an excellent return on investment due to the appreciation of value that properties tend to experience over time – especially when compared with other countries around the world.
3. Wide Variety Of Property Types To Choose From: When investing in Real Estate in Cyprus, there’s a wide variety of options available from residential apartments and villas to holiday homes or commercial premises (such as office buildings). No matter what kind of property you’re interested in, you’ll find something that suits your needs in Cyprus.
4. Easy To Buy And Sell Properties: Buying and selling real estate in Cyprus is a breeze. The process is usually completed within a few weeks, making it easy to take advantage of the latest opportunities available on the market.
5. Excellent Location With Access To Developed Infrastructure: Cyprus is a well-developed country with excellent infrastructure and access to some of Europe's best cities as well as airports and ports such as Paphos International Airport and Limassol Port, respectively.
Can You Buy Real Estate With Crypto In Cyprus?
The answer is yes! Buying real estate using cryptocurrency has become increasingly popular over the past few years and Cyprus is no exception. In fact, the country has embraced this new form of currency, allowing individuals to purchase properties using Bitcoin or any other digital currency.
How To Buy Real Estate With Crypto In Cyprus?
Buying real estate with crypto in Cyprus requires four steps.
1. Find a Property that suits your budget
The type of property you’re looking for will depend on your budget, the size of the property you need, and other factors like proximity to amenities.
Factors like location, size of the property, and budget will determine whether or not a particular property is suitable for your needs.
2. Search for a Crypto Real Estate Agent
When it comes to buying real estate with cryptocurrency in Cyprus, it's important to look for a real estate agent that specializes in transactions involving digital currencies. These agents are knowledgeable about the process and can help smooth out any potential hiccups along the way.
3. Choose the right crypto exchange
The next step is to find a reliable crypto exchange where you can purchase the cryptocurrency you need to complete the transaction. XEROF is one of the most trusted exchanges out there and offers competitive trading fees and an easy-to-use platform. XEROF is fully regulated in Switzerland and allows clients to buy real estate with crypto while gaining access to a wide range of markets.
4. Sign all necessary documents
Once you have found the right property and exchanged your fiat money for digital currency, it’s time to sign all necessary documents before closing the deal. This includes signing contracts with both parties involved and ensuring that all legal requirements are met.
While buying real estate with crypto can be a smart and convenient way to invest, there are some factors that you should consider before making the purchase. These include taxes, transfer fees, exchange rates, as well as any limitations or restrictions imposed by the local government.
Investing in real estate in Cyprus using cryptocurrency is becoming increasingly popular as people realize the potential advantages that come with using digital currencies such as Bitcoin or Ethereum. With attractive tax benefits, excellent returns on investment, a wide variety of property types to choose from, and an easy buying process, it’s no wonder that more people are turning towards cryptocurrency when it comes to investing in real estate.
FAQs About Crypto Real Estate Cyprus
Q: Does investing in crypto real estate in Cyprus require any special permission?
A: No, you don't need any special permission or license to invest in real estate with crypto in Cyprus as long as the transaction is completed within the country's legal framework.
Q: Are there any tax benefits associated with buying real estate with cryptocurrency in Cyprus?
A: Yes – depending on your individual circumstances, you may be able to benefit from certain tax exemptions when purchasing properties with digital currency.
Q: What is the best crypto exchange to use when buying real estate in Cyprus?
A: XEROF is one of the most reliable exchanges out there and offers competitive trading fees while allowing clients to buy real estate with crypto. Additionally, XEROF is fully regulated in Switzerland and provides access to a wide range of markets.
XEROF is a Swiss-licensed Crypto Gateway that offers exchange services for customers who possess crypto wallets and want to use them as fiat currency to purchase real estate properties and luxury goods.Learn more about XEROF