Cyprus's property market is changing a lot. A new idea called tokenisation is helping people invest and buy property. Leaders from companies like Eurivex and CrowdX met to talk about this new method. It is making it easier for more people to invest in property.
Tokenisation means creating digital copies of property on a blockchain. Each digital token is a small part of a property. This lets people buy small pieces of buildings. It is now easier for new investors to enter the market. Yervant Bohdjalian from Eurivex said, "Digital money is the future." This is important in Cyprus because property prices are high.
A recent event brought property experts together. They discussed the good and bad points of this digital change. They talked about getting money from abroad, even from people using cryptocurrencies. They also discussed taxes and safety for these new digital tokens. Tokenisation helps owners get money by sharing ownership with more investors.
Globally, property tokenisation is growing fast. Experts think it will be worth $1.7 trillion by 2027. Some say $4 trillion in property could be tokenised by 2035. Cyprus wants to use tokenisation to make its property market better. It wants to attract more investors from Cyprus and other countries.
This change is simple but important. By making digital copies of property, tokenisation divides ownership into small parts. Investors can now earn from rent or price increases with smaller amounts of money. Also, blockchain technology lets these tokens be traded worldwide. This makes the market more active and open.
This change is very important. Many people can now buy a part of Cyprus property. This was not possible before because it was too expensive. For companies, tokenisation offers new ways to get money. It is a faster way than old methods. The digital world is changing business. Using blockchain in property is a big step for easier and better property investment.