08.11.2023
Petr Valov, CEO of Exness Group, which operates in the financial technology sector and provides a wide range of financial instruments, stressed the need to stimulate the market with several thousand housing units so that supply meets demand.
As an investor, he noted that in order to solve the problem of affordable housing, which has become a big problem in Cyprus, especially in recent years, a framework must be created to attract investors, institutional investors and investment funds to stimulate the market by increasing supply.
Many investment opportunities
“There are many investment opportunities around the world, some with limited risk and some with high risk,” he said.
Obviously, according to Mr. Valov , for any investor the scheme should be attractive and provide better financial performance compared to other options.
At the same time, it should include some tax benefits, such as rebates and incentives, during construction and operation, and may also include some increase in the number of apartments that can be included in the building.
Examples from other EU member states
“In practice, we should not reinvent the wheel,” he said, noting that “there are many examples from other European Union (EU) member states implementing their own housing policies.”
The benefits provided relate to income tax relief, capital gains exemption, reduction in VAT rates, increase in depreciation rates, exemption from national excise taxes and an increase in the number of apartments that can be included in a building.
