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LJ Hooker extends its international reach

On Sep 01 2014
Tagged as:
  • Residential Property


Have you ever dreamt of owning a little villa in the beautiful Mediterranean? LJ Hooker has ...

Have you ever dreamt of owning a little villa in the beautiful Mediterranean?

LJ Hooker has recently announced an agreement with Cyprus’ leading real estate group, Fox Smart Realty, which opens up the Mediterranean island’s property listings to Australian buyers.


The relationship adds to LJ Hooker’s other international agreements with Siam Real Estate (Thailand) and Hamptons (England).


Russian, Chinese and English investors have already been drawn to the European Union island’s  amenities and Greek-influenced culture. But Australian investors are now being enticed by its similar banking system, proximity to Europe, Africa and Asia, and passport incentives.


“Cyprus’ banking and legal system is modelled on the British system, which has increased the appeal of property for investors,” said LJ Hooker’s Head of International, Bill Russell.


“Property prices are still down in the wake of 2012-13, offering exceptional opportunities for Australian investors. You can find a three bedroom villa on 500-600sqm within a very short drive of the coastline starting from €230,000 (AUD$334,000).’’


Non-EU citizens who purchase property can apply for a residence permit, with an annual pension or investment income of 30,000 Euros. After seven years, they may apply for a Cypriot passport, opening up a raft of benefits throughout the EU.

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