Cyprus is changing its property market with a new idea called tokenisation. This makes investing in property easier. Companies like Eurivex and CrowdX are creating digital tokens. These tokens represent a part of a real property. This helps more investors and builders join the market.
Using special technology called blockchain, properties become digital. Investors do not need to buy a whole building. They can buy these digital tokens instead. Each token gives a share of the property's money. This money can come from rent or when the property value goes up. Property prices are rising. This makes it hard for many people to invest. Yervant Bohdjalian from Eurivex said tokenising is a good way to solve this problem.
Cyprus has held meetings to support this digital change. These meetings help plan how to get money from other countries. They also talk about taxes and rules for these digital tokens. The aim is to make Cyprus a top place for property investment. They want to attract investors from all over the world.
This digital trend could be very big. Experts think the global market for tokenised property will grow a lot. It could reach $1.7 trillion by 2027. For Cyprus, this is a chance to make its property market stronger. Builders can get money in new ways. Individual investors can buy into property with less money to start.
Tokenisation splits property ownership into digital parts. This makes property easier to buy and sell. More people can invest in Cyprus property. This can increase demand. It also gives builders more ways to get money. New systems will allow these digital tokens to be traded worldwide. This makes investing more active. Mr. Bohdjalian believes digital securities are the future. Cyprus is moving towards this future. It will create a fairer and more connected property market.