Why Buy Property In Cyprus Many people are choosing to buy a Cyprus property, either to live in, as a holiday home or as a property investment. There are many reasons for this, here are just a few:
10 GOOD REASONS TO BUY PROPERTY IN CYPRUS
- A beautiful Island with enviable year round climate: Cyprus is the third largest of all the Mediterranean islands. It has a population of approximately 800,000 most of which speak English. It is just 150 miles from west to east and 60 miles from north to south, yet Cyprus has something to suit everyone! Its wonderful warm climate seems to divide the year into nine months of summer and three months of spring; winter and autumn have just disappeared!
- Regular Flights and the Arrival of Budget Airlines to Cyprus: Ryanair and Monarch are set to launch low cost flights to Cyprus, in addition to budget flights already offered by Thomas Cook and Globespan. These flights and the development of new passenger terminals and runway extensions at both Larnaca and Pafos Airport, along with a flight time of just over 4 hours from the UK to Cyprus, make Cyprus more accessible than ever!
- Multi-Million Pound Tourist Investment: Cyprus already boasts an established growing tourism trade, and new multi-million pound marinas are set to emerge in both Paphos and Limassol, more exclusive golf clubs are planned throughout Cyprus, and there is fevered talk of “Neapolis” a £550M mixed used development near Paphos town. Plus the recent investment on motorway links means easy access right across the island - from Famagusta through to Paphos. The motorway is nearing completion as it is soon set to extend from Paphos to Polis. All these developments are set to increase the demand for holiday rentals.
- Quality Property in a Stable Property Market: Prices have shown a steady increase over the past 10 years, averaging about 8% p.a.. The property market is considered established, predictable and much less volatile than other, newer, property markets. The arrival of the Euro in January 2008, replacing the Cyprus pound the euro is set to add further stability and confidence. Property prices on the island are still competitive compared to other popular destinations. Cyprus offers a great choice of low rise property for sale throughout the island, from apartments through to beachfront villas and golf properties. Its strict planning and building regulations offers peace of mind for those looking to buy property abroad.
- Strong British Connections: Many aspects of living in Cyprus are similar to living in the UK, such as the cars are driven on the same side of the road, making it much easier for the tourist. Also the widespread use of the English language saves one from learning a whole new language, although it is always advisable to learn a few ‘pleasantries’ so that you can converse with the locals. The legal, accounting and banking services are based on British practices
- Familiar Legal System: As mentioned the legal system is based on the British legal system and the Land Registry system is probably the most advanced and reliable system in the world. Clients are often surprised how quickly a sale/purchase of a property can go through. We will introduce you to a Legal Consultant who will explain the system to you.
- Familiar Banking Systems & Fantastic Mortgage Deals: Similar to those in the UK, the banks have many convenient branches with English speaking staff, which are efficient, modern and well equipped with modern technology. We will introduce you to a Cypriot bank and help you to open a bank account. We have access to some fantastic Cyprus mortgage deals such as pay nothing for 2 years PLUS £1000 Cash back!*
- Tax Advantages: There is no inheritance, gift or wealth tax and personal taxation is low, starting from just 5%.
- Low Cost of Living & High Standards of Living: Unlike the increasing cost of living in the UK, Cyprus boasts a low cost of living whilst offering a high standard of living! The Cypriot medical care is also of a very high standard and many companies provide private health care. Educational facilities in Cyprus are also excellent and Paphos hosts the International School of Cyprus.
- Cypriot Hospitality & Low Crime: The Cypriot people are wonderfully hospitable and welcoming and the island has a very low crime rate, in fact it is one sixth of the average rate for Europe. Visitors are often surprised and reassured by the relaxed aspect of life on the island, where crime is almost unheard of.
So if you are looking for the same climate as the Costa del Sol and Algarve, a competitive - good capital growth and rental yields; high quality living at inexpensive prices; with increasingly easier and cheaper transport links, in a Brit-friendly, English speaking, easy-to-adjust to culture but with all the charm and hospitality of the locals - Cyprus property is an ideal choice for you!
These are just a few of the reasons why you should buy a property in Cyprus, whether you are looking for a Cyprus holiday home, want to move to Cyprus or are looking for an ideal investment property. There has never been a better time to buy - so why not book an inspection visit to Cyprus now. We look forward to helping you find the Cyprus property of your dreams!
* This mortgage deal expires end of June 2007. For further information on current mortgage details, complete and return our enquiry form.
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