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Home Business Britons seek freedom throughout Europe as they flock to buy property in Cyprus and Greece

Britons seek freedom throughout Europe as they flock to buy property in Cyprus and Greece

by Uma
iStock 1057509614


As polarising an issue as Britain’s decision to leave the EU remains, one aspect that affects all British people is how much harder it is to travel and live in Europe for extended periods of time. The days of shorter queues at airport security and visa-less entry are over, and British people everywhere are feeling the impact.

Because of this, many British people now seek to regain access to freedom of movement by becoming a citizen of an EU state. Greece and Cyprus’ leading property developer, Leptos Estates have reported an increase in buyers flocking to purchase property in both markets, with 50% of Leptos’ British buyers citing the permanent residency programme as the major driver in their decision.

One of the easiest and most effective ways of achieving EU membership is through purchasing property in markets like Greece or Cyprus. Owning a property allows buyers to apply for permanent residency, and they can then go on to achieve citizenship and own an EU passport after residing for seven years.

Cyprus is now one of the main investment and residency destinations in the EU as buyers can invest as little as €300,000 and receive their residency card in just 60 days for both the buyer and their family.

According to Leptos, Paphos is the most popular area in Cyprus for British buyers seeking permanent residency. Kamares Village, which is nestled on tree-studded hills with views over the Med, is particularly popular. The development boasts a more traditional Cypriot village feel but with modern comforts. Anchoring the community there is a restaurant and community pool, in addition to a bridge and tennis club both run by Brits.

Venus Gardens Resort, another alluring development by Leptos Estates, currently in its ninth phase of development, is a coastal retreat nestled within lush, landscaped gardens in a community-style environment. Offering a diverse range of properties, Venus Gardens Resort presents a true lifestyle destination in a cosmopolitan location, with a myriad of coastal-luxe cafes, dining establishments, private schools, blue flag-awarded beaches, archaeological sites and places of interest, all on one’s doorstep.

Limassol is also extremely popular as sales at Leptos’ Limassol Blu Marine, a high-rise luxury tower located in downtown Limassol, have now totalled €100M, as buyers seek all-year-round sunshine and to take advantage of permanent residency programmes.

Whilst the level of investment for Greece’s Permanent Residency programme is increasing from €250,000 to €500,000 sometime next year, British people still have time to purchase at the lower rate of investment now in order to gain PR benefits. Leptos Estates boast several high-quality properties at this price point located in Athens, Crete, Paros and Santorini.

A Greek PR card also allows you free travel throughout Europe and within the Schengen Area without a visa, and buyers can receive their PR within as little as ten days depending on what area of Greece the property is located in.

Pantelis Leptos, Co-President of Leptos Group of Companies, comments: “Here at Leptos, not only do we guide you through every step of the property buying process, but we also guide you through each step of the permanent residency programme process, ensuring minimum stress and maximum results.”

Whilst the PR programmes are a huge draw post-Brexit, Cyprus and Greece are the ideal markets for either permanent relocation or for a holiday home as buyers can enjoy impeccable weather, a lower cost of living and access to some of the Mediterranean’s most stunning beaches and landscape”.

Of course, access to the EU is far from the only reason a buyer might be interested in purchasing a property in Cyprus or Greece. Both nations boast some of the most stunning scenery in the Mediterranean, and are located at the cross-roads of three continents. English is widely spoken and the cost of living in both countries is also a major attraction, as many Britons look for some solace away from rising bills.