Referred to as the ‘Paradise of the Mediterranean’. Situated in the northeastern basin, it is the third largest island in the Mediterranean with a moderate climate and some 340 days of sunshine each year on average. It is an island of immense beauty with sun kissed beaches, tranquil countryside and a leisurely lifestyle. Healthy and fresh produce provides delicious cuisine catering for all tastes both vegetarian and the carnivores.
Having joined the EU in 2004 and set to convert the currency to the Euro in 2008 it is an ideal investment for the property buyer as the market is buoyant and attractive. Property prices are relatively modest at present and are expected to show a significant growth in the next few years.
Cyprus is easily accessible by air and many airlines both scheduled and cheaper chartered fly to the island. Larnaca has the main international airport of the country. A new and much larger airport is under construction here to replace the existing one with expected completion by 2009. English is widely spoken and driving is the same as in the UK, with little traffic and clear road signs. Cyprus has the lowest crime rate in Europe. Cost of living is modest as compared to the rest of Europe and the tax regime is very favourable.
Cyprus has proved to be an increasingly popular place for holiday and retirement homes by foreigners. There are an estimated 60,000 British homeowners on the island enjoying all the benefits that Cyprus has to offer.
The only golf courses on the island are situated in the west but a new one, the first, is being developed in the east just outside of Larnaca. New Marinas are being added and the existing Marinas are being updated with more berths and additional facilities.
Property prices have been steadily increasing with growth of 10%-20% per annum in recent years. With one of the most sophisticated Land Registries the investment in property is secure. The legal process is both straightforward and understandable with documentation in English.
Paul Overseas Properties has access to properties ranging from Cyprus £45,000. Properties are available to cater for all tastes such as seaside, city centre or perhaps a totally rural setting
