The national income per capita in Cyprus, which is among the countries with a growing economy, was recorded as 12 thousand 649 dollars. The domestic distribution of gross national product is as follows;
- Trade and Tourism 22.2% (10.5% of this rate is based on wholesale and retail trade, the remaining 11.7% is hotel and restaurant business)
- Self-Employment and Services 13.2% (6.8% of this rate is higher education, the remaining 6.4% is self-employment and other services)
- Public Services 16.1%
- Import Taxes 9.0%
- Industry 7.8%
- Transportation and Communication 7.3%
- Financial Institutions 8.0%
- Construction 5.8%
- Agriculture 5.5%
- Housing Ownership 5.2%
If you have any questions about the cost of living in Cyprus, “What is the Cost of Living in Cyprus ” You can read the article titled.
Investments that Improve the Economy in Cyprus
Cyprus offers great advantages especially in real estate investments to revive its economy. While newly built housing projects have enabled the real estate sector to become active, they have also been effective in terms of tourism. Beachfront villas and holiday homes are often preferred for tourists from all over the world, as they offer the best accommodation.
With the development of universities, the student potential also increases on the island. The facilities provided to foreign trade investments also support developments in trade. Since Cyprus' economy is based on tourism, new housing projects allow to increase tourism dynamics.
Apart from certain regions, holiday living spaces have been created thanks to new housing projects. In particular, Döveç Construction creates real estate opportunities that will support the growth of the economy while undersigning the most successful housing projects in Cyprus.
Is Investing in Cyprus Advantageous?
It is always advantageous to invest in a country with a growing economy. Investing in real estate, especially in a holiday paradise island like Cyprus, means a guarantee of income. For example, it is possible to buy a luxury villa by the sea or a residence in the city center at a very affordable price. Taxes and other fees are also subject to deductions by the government and there is no rental income tax.
Cyprus is suitable for holidays 360 days a year. The island has always had a dynamic tourism structure. Students and investors increase the dynamics of the island. Buying a residence in the center, buying an apartment close to the university, buying a holiday home or villa are among the smart investments. Call or message the Döveç Construction support line to consult reliable experts about investment in Cyprus real estate.