Buying Property in Cyprus
With its gorgeous all year round Mediterranean climate, Cyprus has to be one of the best places in Europe to buy property.
Cyprus property prices have continued to rise. In the coming years, property prices are predicted to rise considerably as the Cyprus government continues to relax the rules which control the amount of property that can be owned by people who are not residents of the European Union.
From the ever popular areas of Paphos and Limassol to the fast growing tourist areas of Larnaca and Protaras, South Cyprus Property is well positioned to help anyone interested in buying property in southern Cyprus to find the investment or home of their dreams.
Inland property prices are currently growing by as much as 20% per year; properties in beach areas such as Larnaca, Limassol and Famagusta are increasing by about 30% per year on average.
Traditionally, retirees have been attracted to Cyprus because they pay 4.8% tax on their pensions and nothing in the UK. But now Cyprus is becoming a growing golf destination, with a cluster of excellent golf courses around Paphos and Larnaca, and Cyprus is now seeing a younger generation choosing to invest not only for personal holiday retreats but also because of the bouyant buy-to-let investment market where you can expect expect to receive an annual return on your investment of between 4% and 5%.
Although there has been a recent emergence of new markets for overseas property buyers, Cyprus remains a big favourite among British holiday home buyers in particular because the Cypriot legal system and Land Registry are very similar to those in Britain. With English staff in Cyprus to guide and advise you every step of the way, no one is positioned better to help you buy a property in Cyprus.