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What makes Cyprus properties a favourite with British homebuyers overseas?
The Republic’s medium and long-term investment potential does of course contribute to the overall attraction, regardless of whether you are looking at Cyprus properties searching for a retirement home in the sun, as a holiday residence, to derive a steady rental income or even as a permanent home.
In addition, the simple facts that capital appreciation on real estate has never dipped below 8% per annum since 1975, and that the country’s economy is one of the most solid and dependable in the region, are further responsible for bolstering Cyprus’ status as a firm favourite for British homebuyers overseas.
However, the British love affair with Cyprus properties is not all about money.
There is hardly any need to mention that the island’s location, in the heart of the eastern Mediterranean, makes it a veritable sun-trap, with an average of 326 days of sunshine per year; ideal for those of you with a sun-loving lifestyle.
Furthermore, Cyprus provides visitors with an intriguing mixture of history & culture, nightlife, outdoor pursuits, water sports and a variety of leisure activities.
Indeed, on the subject of leisure, the past few years have seen an explosion in the popularity of golf in Cyprus, a trend which has in turn led to the issuing of fourteen licences for new golf courses with associated luxury property developments across the Republic. Once these are complete, Aphrodite’s Isle will undoubtedly become one of the leading golfing destinations on Earth, outshining even such popular venues as Spain and Portugal.
Even the crime-rate statistics speak for themselves; in Cyprus, properties are 84% less likely to be burgled than they are in the United Kingdom.
Then there are the banking, tax and legal systems which, due to the fact the Cyprus used to be a British colony, are largely based on their UK equivalents, although there has of course been a certain amount of ‘evolution’ since the Republic’s independence back in 1960.
It may be worth noting that, although the Republic’s tax system is largely based on the British one, it is in fact far more benevolent than the UK’s. For instance, even the highest rate of income tax in Cyprus is only set at 25%, rather than the 40% payable on an equivalent income in Britain.
On the whole, overseas real estate buyers love Cyprus properties for a number of reasons ranging across the topics listed above and many more besides.
If you are interested in overseas properties and you have never been to the Republic of Cyprus, you really should pay a visit to this beautiful island before committing to buy a home anywhere else. Contact us today to find out how we can help you in your search for the perfect piece of real estate in the Cypriot sunshine.
Whilst the name Cyprus is not immediately associated with golfing, the Republic nevertheless boasts a number of excellent golf courses. In addition to these existing venues, a further fourteen are planned, to be constructed during coming years. These new projects aside, let's take a look at some of the existing courses in the island's west.
Tsada
Opened back in 1994, Tsada Golf Course, located in the hills above Paphos, about a ten minute drive from the town, was the first grass course to be constructed in Cyprus.
Its hillside location, some 500 metres above sealevel, not only affords it some stunning views, but also provides it with a steady, cooling breeze, which makes for a pleasant playing experience, even during the height of Summer.
Secret Valley
Two years after the completion of Tsada, the Secret Valley Golf and Country Club officially opened its doors and immediately became the local player's favourite of the two courses. Set in a secluded little valley running from the hills down to the Mediterranean coast near the village of Kouklia, Secret Valley golf course and its associated development of luxury golf properties, is probably one of the most exciting golf venues on the island, as it is set to undergo a huge transformation which will see the construction of the further two courses, one of which will be of championship standard & destined to join the PGA's European tour.
Aphrodite Hills
Currently the most high-profile golf course in Cyprus,the Aphrodite Hills golf course offers a challenge to even the most accomplished of golfers. Designed to take maximum advantage of the majestic views and the local terrain, this fantastic course is located in the coastal hill neighbouring the Secret Valley course. Although it will eventually be overshadowed by its neighbour, Aphrodite Hills is nevertheless a noteworthy venue in its own right.
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