Cyprus has long been a popular holiday destination. Many of us have relied on this

fact for our financial stability, making money off tourism and foreign investment.

Because of the island’s centrality, people from Europe, Africa, and the Middle East

are regular visitors. This is why the property market is so dependent on borders

being open.

Unfortunately, over the past year we have seen how easily the economy can be

brought to its knees without international travel. The property market in particular

has struggled, with thousands of international investors putting their purchases on

hold. Even in Cyprus, potential property buyers have had to postpone their plans

due to their economic troubles.

With the light at the end of the tunnel, the property market in Cyprus has begun to

recover as lockdown restrictions around the world are being gradually lifted.

Economic recovery

The fact that the Cyprus property market is recovering is unsurprising. The

pandemic hit economies around the world hard, but most economies were able to

rebound with the easing of restrictions. Tens of millions of people who had been left

unemployed found new jobs fairly quickly.