East Asian investments in Cyprus appear to be gathering momentum, but the nature of the assets bought is shifting to non-urban investments, outside the citizenship scheme.
Initially, in the immediate aftermath of the 2013 crisis, there was a big demand in the Paphos area where the purchase of high-value, luxury villas made buyers eligible for the citizenship by investment scheme. Well-off Chinese seeking ‘access to Europe’ became a key target group for developers seeking new markets and quick sales.
It is Limassol,...