“For us in Cyprus, which was a British colony, it is not as easy to accept Brexit as other countries might do, especially bearing in mind our close links with the U.K.”

to observe how this will develop.

Will the existing British residents start selling their property to go back home (?), bearing in mind the 60,000 British who stay in Cyprus on a permanent basis will upset the market (depending on the volume of return) affecting property values/prices for all of us, including the British citizens.

So, Brexit may not affect Cyprus real estate to a great extent, but it will affect tourists and by projection the Cypriot economy, especially with the expected developments of the sterling vs euro.

Be that as it may and coming back to the real estate industry, we attended the launching of the Paralimni marina where we were introduced to the Marina planners (British) the architects (British), the local architect (British educated), the environmental engineers (British educated). One example of how the U.K. may lose long/mid-term.

A good client of ours (British with a New Zealand passport) who is considering changing his passport to a Cypriot one, due to business concerns in the U.K, post-Brexit informed us that notwithstanding his wish to secure a Cyprus passport, he does not have the 2 mln euros in order to secure it (there are many like me, he told us).

We have to wait and see to the end and hope that the Cyprus government will bend over backwards and accommodate British nationals, especially during the transitional period.