The Effects of Immigration on Real Estate Prices in Cyprus

Introduction

Cyprus is an island in the Mediterranean Sea and is one of the most stop-overs for Asians who come looking for their way to Europe as they travel by water. Being one of Europe’s states located in the East heart of the continent, Cyprus has for a long time been one of the most sought of destinations for Asian travellers who come from the east fleeing their home countries to seek refuge from any neighbouring hospitable state. Most immigrants in this country come from the neighbouring Arabic countries who come to take asylum in the country as a result of the rampant civil wars and unfavourable social life in their mother nations (University of Cyprus/the Cyprus Institute, 2016). Many foreigners have fled from their home countries and have permanently settled in Cyprus. In the process, this has led to numerous changes in prices in the real estate business in this country. The research is based on the above implication to survey the effects of immigration on prices of real estate in Cyprus.

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Literature Review

Background

One of the Mediterranean Sea islands is a European state called Cyprus which has for a long time registered a big number of immigrants who mostly come from Asia. Immigration refers to the process by which people of different nationalities or citizenship choose to leave and permanently settle in a foreign country (University of Cyprus/the Cyprus Institute, 2016). The country is endowed with a conducive environment for settlement. This is coupled with the fact that the Cyprian natives are hospitable people and they are therefore not hostile to the foreign immigrants. There is a myriad of reasons as to why Cyprus, as a nation, is forever filled with immigrants who normally come from the east and the core reasons for the coming of these are explained below.

Most neighbouring Eastern countries of the Asian continent have desert climatic conditions which do not favour enough food crops. For that reason, many foreigners depend on foreign food bought at a price (Constantinou et al., 2015, p. 35). This makes hard the lives of some low-income individuals who travel to Cyprus and permanently settle there to practice agriculture. Most of Cyprus neighbouring countries in the east, for example, Iraq and Syria, are faced with interminable wars which scare away their citizens and flee to west neighbouring Cyprus to safeguards their own lives and families. The author cites the other reasons why foreigners migrate to Cyprus, such as hunger.

Also, some immigrants come to settle down in Cyprus with intentions of looking for what to do in form of job opportunities to earn a living in a politically and socially conducive environment (Constantinou et al., 2015, p. 28). Mostly, migrants of this calibre are the youth who travel from the east to come and work in Cyprus. With the number of migrants ever more increasing in the country, the Cyprus Minister of Internal Affairs recently mentioned that the country was getting saturated. Similarly, it is reported that the increasing population numbers seem to be causing significant changes in the real estate business.

Review of Similar Research

Most studies on immigration are concentrated on the social and cultural impacts of immigrants in Cyprus (University of Cyprus/the Cyprus Institute, 2016). On the contrary, this study intends to fill the gap of effects of immigration on the prices of the real estate industry in Cyprus.

Gaps in Literature

Due to the rising numbers of immigrants in Cyprus, there seem to be significant changes in the prices of real estate which might be escalating or reducing. However, this cannot be proven right or wrong not until this proposed research will be carried out and the decision made from the analysed data by the help of appropriate tools.

Contribution of the Proposed Research

After completion of this research, it will be discovered and proven as to whether the prices of real estate are increasing or lowering as a result of immigration in Cyprus. The results obtained will also be referred to businessmen who are intending to join the real estate business in Cyprus so that they can plan the business with enough of information pertaining the pricing of the real estate business. The results obtained in this research will also be referred to by future researchers to make more future findings in the same field.

Methodology

Research Design

Both qualitative and quantitative data will be sought for in this research. In particular, qualitative data will be obtained from the immigrants who occupy households in Cyprus through focused group interviews. Quantitative data will be gathered from companies involved in the real estate business in the country through questionnaires. Lastly, further information will be obtained from the library and internet search after which an analysis will be carried out.

Analysis of Data

Preferably, a regression analysis method will be used to analyse the data collected from the various participants in the real estate’s industry. As a norm of regression analysis, the researcher will examine the relationship between a dependent variable which is the effect of immigration against an independent variable of price of real estate. A critical analysis of data will follow (Plotts, 2011) its collection with the help of appropriate tools. Data processing software will be used which will plot the data of immigration against prices and a regression line will be plotted to evidence the real picture of the relationship and the results obtained after the analysis will be used to tell whether prices in the real estate industry are increasing or reducing due to the growing numbers of immigrants in Cyprus.

Ethical Considerations

Regarding the ethics of qualitative researcher, no names or bio-data of the participants will be captured in the study. Also, as stipulated by researchers Bruzzese and Fisher (2003, p. 13), permission for conducting interviews with the participants will be requested prior to the actual date of the interview and consent of the participants will also be obtained as the participants will be informed of the purpose/objectives of the survey. Secondly, as Mayeux, Underwood, and Risser (2007, p. 58) provide for academic based studies, authority and permission to conduct this research will be obtained by the researcher from the university authorities. Guidance on how to appropriately carry out this research will always be sought for from the allocated research supervisor and every stage reached at will always be reported to the same supervisor.

Expected Outcomes

One of the minor findings of this research will be the current stand of immigration levels in Cyprus. The completion of this research will help to inform whether the prices of houses in the real estate business in Cyprus are either increasing or decreasing. Ideally, this will act as an indicator for businessmen who would wish to join the real estate sector in the country to determine whether they will be able to achieve their expected outcomes or not. The results obtained in this study will also be referred to by other researchers in the future to give direction to the research and make more findings upon any other relevant issue that will be calling for research. In the end, the successful completion of this research will also lead to the researcher being granted a Bachelor’s degree.

Gantt chart of Activities

Activity Time Schedule
Sept 2019 Oct 2019 Nov 2019 Dec 2019 Jan 2020 Feb 2020 Mar 2020
Approval to collect data
Collection of data from Real Estate Companies
Library search
Internet research
Analysis of data
Writing of Dissertation
Final submission

Conclusion

As one of Europe’s hospitable and welcoming nations, many immigrants have permanently settled in Cyprus. The unstable political and social environment in the Asian countries which are neighbours with this country has influenced many people to flee their home countries to seek refuge from the neighbouring Mediterranean Sea Island. Since lasting settlement calls for having permanent assets in the form of houses, the growing numbers of immigrants in this country are likewise being reported to be causing noticeable changes in the prices of real estate. It is therefore this implication which the researcher seeks to validate. By collecting data, analysing it, and making comparisons with the already existing findings in the same field, this process will, in the end, point out the changes that have occurred in the real estate business in Cyprus due to the growing numbers of immigrants in the country.

 

Reference List

Constantinou et al. 2015. The Cyprus Review. Vol, 21 (1), 15-99. Cyprusreview.org › index.php › issue › download.

Bruzzese JM, Fisher CB. 2003. Assessing and enhancing the research consent capacity of children and youth. Applied Developmental Science. Vol: 7(1):13–26. http://search.ebscohost.com/login.aspx?direct=true&db=aph&AN=8699738&site=ehost-live.

Mayeux L, Underwood MK, Risser SD. 2007. Perspectives on the ethics of sociometric research with children. Merrill-Palmer Quarterly: Vol, 53(1):53–78. http://search.ebscohost.com/login.aspx?direct=true&db=psyh&AN=2007-08527-003&site=ehost-live.

Plotts, T. 2011. A Multiple Regression Analysis of Factors Concerning Superintendent Longevity and Continuity Relative to Student Achievement.

University of Cyprus/the Cyprus Institute. 2016. Relocation and place attachment: housing … – Architecture MPS. http://ezproxy.lib.ed.ac.uk/login? url=https://search.ebscohost.com/login.aspx: architecturemps.com › 2016/08 › Architecture-MPS-5-Housed-by-Choice.

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