Chinese property developers found to be adding hidden charges to sales in Cyprus

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A portion of the foreign interest in the Cyprus real estate market comes from China, and buyers are mainly interested in visa acquisition (rather than passports) due to the lower associated costs. Chinese companies have shown such a keen interest to invest in the property market in Cyprus, due to its clean air, low crime rates and welcoming small neighborhoods.

Buyers are urged to be careful with Chinese visa agents who are also operating as estate agents, which then charge an above average commission rate at 20% on the sales price, which to the untrained property developer, can go unnoticed until after the contracts have been signed and drawn up. The standard commission rate in Cyprus is 5%.