MiVida Ltd

Overview

Our story

The strong performance of Cyprus is bolstering the island’s status as an FDI hotspot, presenting exciting opportunities for serious investors ready to move in fast and reap the benefits of one of the fastest growing EU economies.

Large-scale projects, tourism infrastructure, privatisations and a burgeoning oil and gas sector are all strengthening Cyprus’ appeal as an interesting investment location, and the island has already enjoyed significant inflows from the US, Asia, Russia and the Middle East.

Cyprus has come a long way in the last few years, surpassing all expectations, a fact reflected in a 9.1% increase in foreign direct investment in 2016. The island’s improved credit standing, after consecutive upgrades by international credit rating agencies, the successful recapitalisation of its major banks, bond issues raising over €3 billion in international markets, and numerous large-scale projects, have all contributed to the resurgence of Cyprus as a top foreign direct investment (FDI) location.

Boost in Real Estate Sales

Property sales in Cyprus also marked a significant increase thanks to foreign buyers. Property purchases completed by overseas buyers increased 63% year-on-year in the first three quarters of 2016, with overseas buyers making up 14% of all real estate transactions.

Cyprus continues to be on the top of the list for investors, holiday-home seekers, expats and retirees, with the traditionally popular areas of Paphos and Limassol leading the way– a trend likely to continue throughout 2017. Sales in Larnaca have also been rising rapidly from a low base.

Interest in real estate has partly been spurred on by the incentives offered in the country’s permanent residency and citizenship programmes, which require investment in property. According to some reports the schemes are said to have brought in over €3 billion in revenue over the past two years, with most enquiries coming from Russia and China.

Recognising this there was a need to provide professional Asset Management services to this growing industry and huge inflow of Investors which are buying real estate to rent for investment, so we created MIVIDA ASSET MANAGEMENT to cater for this need.