Cyprus and Greece considered the best places in the world to buy a vacation home

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Cyprus and Greece are the most favorable destinations in Europe for those who wish to buy a vacation home.

Such conclusions were drawn from a recent study conducted by Compare the Market, which analyzed locations in countries around the world, taking into account specific factors such as things to do, affordability, cost of life, restaurant, criminal incidents and local weather, Reports SchengenVisaInfo.com.

According to the study, three of the ten sites in total were in Cyprus as well as Greece, as they ranked second on the list of the best destinations in the world to get a vacation home after Venice in Italy, and have been considered Paphos, Cyprus.

“Although Venice is an amazing place to visit, you might want a vacation home somewhere with fewer tourists where you can really immerse yourself with the locals. In that case Paphos in Cyprus may be a good choice ”, according to the study published by comparing the Market.

Besides being considered the preferred place to buy a vacation home, Cyprus and Greece are also known for their Golden Visa programs.

However, the Golden Visa program which allows international investors who make a specific investment to travel visa-free to Schengen area countries has often been criticized for being included in illicit cases such as money laundering and corruption.

Due to the accusations, Cypriot authorities have announced that they plan to end the Golden Visa program on November 1, 2020.

Recently, the Cypriot government stressed that it will revoke the citizenship of a total of 45 international investors as well as their close Cypriot passport holders under the country’s golden visa program.

In this regard, Myron Nikolatos, a former Supreme Court justice, headed a committee to review the practice of issuing golden visas between 2007 and 2020.

“It is evident that Cyprus’s investment program was operating between 2007 and 2020 with gaps and loopholes, an inadequate legislative framework and almost no regulatory framework”, Nikolatos stressed in this regard.

On the other hand, internationals interested in obtaining the golden visa from Greece must invest a minimum of 252,328 € in this country. Then, internationals who obtain the golden visa are eligible to visit all countries in the Schengen zone without a visa.

Previously, international experts from real estate company Astons had ranked Greece as the most favorable destination for international investors.

In addition, Athens, along with several cities such as Kefalonia, Lefkada and the Cyclades, has been ranked among the most expensive places in the Greek real estate market.


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