In recent months there have been dozens of recorded property sales in Cyprus to foreigners, mainly of Arab origin investors who come from Egypt, Syria and Lebanon.
Particularly Larnaca has gained investor interest from Arab descent investors. Indeed it is worth noting that there has been a greater number of foreign property sales in the city of Zenon (Larnaca) compared to properties sold to Cypriots.
City officials stress that amongst other reasons, the Larnaca harbor, the airport and the marina which are well known to Arab residents of nearby countries and the Hala Sultan mosque (one of the holiest places of the Muslim world) are some of the reasons the Arabs find the city an attractive destination for a property purchase.
It should also be noted that many Cyprus Developers are already preparing websites in Arabic and are in contact with potential partners who speak English as well as Arabic. A large real estate agency in Lebanon for example has taken a keen interest in Cyprus property sales.
Great hopes for the revitalization of the long-suffering Cyprus property industry are deposited in the Chinese market, but as it appears, the historical ties and the political and military circumstances lead many Arabs in Cyprus as well. It is very important though that in spite the amid economic environment many foreign investors give a vote of confidence to our country, by selecting to invest and buy property in Cyprus.