A Property in Cyprus is many a home buyer's dream
As the popularity of Spanish and French real estate
is gradually waning with British buyers, property in
Cyprus is now widely regarded as a far better investment
for a number of good reasons.
Property
in Cyprus - The Advantages
Besides the obvious advantages of lower property
prices compared to Spain and Portugal, an outstanding
climate with year-round sunshine and the fact
that around 90% of natives under the age of forty
speak English to a high standard, many informed
home buyers have also noticed that Cyprus
boasts one of the most favourable tax systems
in the European Union.
For instance, anyone selling their property in
Cyprus, is entitled to sunstantial capital gains
tax allowances which also encompass any improvements
made to the home during their period of ownership.
Take a look at our Cyprus
Tax Matters section for more information. |
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online database to find the perfect home in the
Cypriot sun
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More buyers are now looking beyond traditionally
popular locations
In the past, Paphos, Larnaca and Paralimni formed the
backbone of the Cyprus
property market.
During the past eighteen months though, an ever increasing
number of British home buyers looking for the perfect
property in Cyprus have ventured far beyond the boundaries
of these three communities in search of their dream home.
In the island's west for instance, the current constructiion
of the new motorway link to Polis
Chrysochous and the
neighbouring Latchi has
not only prompted an increased demand for homes in these
two communities, but also in a string of small villages
along the way such as Tala and
Kathikas.
The many improvements to Cyprus' infrastructure carried
out in the wake of attaining full European Union membership
provide another clear advantage.
Most analysts predict that price rises of properties
in the Republic of Cyprus during the coming five to ten
years will easily put the country in the top twenty global
locations for real estate investors.
Furthermore, the introduction of the Euro as the official
Cypriot currency on January 1st 2008 also brought with
it the introduction of VAT on land, thus fuelling overall price rises even more
So, by buying a property in Cyprus, you are getting a
superb home in the sun, as well as a high-yield medium
and long-term investment; truly the best of both worlds.
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