A significant percentage of real estate sales in Cyprus is attributed to Israeli citizens, and several reasons contribute to this: both economic and socio-political. Among the most popular factors, we can mention Cyprus’s special tax regime for IT companies, which we discussed in one of our webinars earlier, and its transportation accessibility. For example, a flight from Tel Aviv to Paphos takes just an hour, and ticket prices can be as low as a few tens of euros. All of this allows Israelis to implement business scenarios in Cyprus while being able to stay at home and visit relatives several times a week.

The climate factor also plays a role here. Take, for example, the dust that forms due to the intense heat in the deserts of Israel and reaches cities from mid-May to September. During this period, known as “Khamsin” in honor of the dry winds from the south, it is even recommended to wear masks when going outside in Israel. In Cyprus, this period is also felt but much less intensely because far less dust reaches the island.

Speaking of the economic reasons that lead Israeli citizens to choose Cyprus, it’s enough to compare several indicators related to daily living expenses. For example, private British schools in Cyprus are almost half the price (on average 800 euros compared to 1,500 euros in Israel), car rentals on the island cost around 550 euros compared to 1,000 euros, and family trips to Cypriot stores and restaurants amount to approximately 1,500 euros per month, while in Israel, it averages around 2,000 euros per family.

The rental cost of apartments is roughly the same in both Cyprus and Israel, but when it comes to buying real estate, the cost per square meter in major cities in Israel and Cyprus varies significantly. On average, it’s 6,000 euros per square meter in the center of a major Cypriot city compared to 14,500 euros per square meter in the central part of major Israeli cities (for the same class of housing).

That’s why many Israelis love Cyprus and have already invested their funds in the island’s real estate.

If you, like Israeli citizens, see prospects in Cyprus for living, starting a business, or growing your capital through real estate investments, don’t hesitate to contact Replace for detailed consultation on any matter. We will provide you with qualified support at every stage and help you find real estate properties from reliable developers that meet your requirements free of charge.