INVESTMENTS

Russians buy Cypriot real estate

Over the past eight months of the year, the number of Russians willing to purchase real estate in Cyprus and Malta has gone up by 40%, according to the Knight Frank statistics.

Credit: goodfreephotos.com

Russian nationals buy residential premises in the EU states as a means to get an EU citizenship. Yet they are also interested in acquiring commercial estate such as apartments and hotels. The number of development projects where Russian capitals participate alongside the local ones, has also grown.

A passport of Malta is a most obtainable in the European Union. To get a local citizenship, one has to invest €1.2 million. In Cyprus, the required investment is about € 2.5 million, but the procedures are much simpler.

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