Top 10 reasons to buy property in Cyprus
1. Luxury lifestyle
You can take your time and really enjoy life at a slower pace , in a friendly environment. And then it’s the Sun ,the beach and the natural beauty of the island. Small enough to go about and discover to your hearts content and big enough to offer a multitude of lifestyles for all ages. Swimming, dozing off by the beach , enjoying water sports, or exploring a nature trail inland. By night going for the taverns, gourmet restaurants , pubs or clubs. The five star hotels and resorts around are an alternative where fitness gyms , health spas , sport facilities and golf are available throughout the year. To top it off snow skiing is an option, two to three months a year.
2. Climate
Let the sunshine and the warmth in to your heart. You can do whatever you’ve planned knowing that the weather won’t get in your way, 9 out of ten times at least. With sunshine 340 days a year you can enjoy outdoors and your hobbies all year round.
Average temperatures between 16 degrees in January to 32 C in July, warm but mild most of the year, one can enjoy the winter too .
3. People
Being an island in the cross roads of Europe, Middle East and Africa, throughout the centuries Cyprus and its people have developed a culture of openness and acceptance of overseas cultures and visitors.
One finds himself surrounded by hospitable people that really know how to make you feel welcome. You can adopt your own lifestyle and blend seamlessly with the locals without much effort and rather soon.
4. Language
You don’t need to learn a second language to get around comfortably. Greek is the native language but English is widely spoken , signage is in both languages making it easy to go around. Bi-lingual menus , announcements & instructions as well as official documents are the norm.
5. Peace of mind
The crime rate on average is about 1/6 of the E.U., so you won’t be needing state of the art security systems, as theft is not common place in Cyprus. You just need to lock up and go, just as if you’d be away for the weekend.
Moreover, the way things are run by the government, the legal system and the banking standards make you feel at ease. Your property and affairs are treated fairly.
6. Traveling
Travel to Cyprus from the UK takes no more than four and a half hours.
The island is serviced by 30 or so airlines throughout the year. At least two to three scheduled flights per day, more during the high season, reaching Larnaca and Pafos International airports.
7. Cost of Living
Cyprus has a relatively low cost of living, compared to western European standards, allowing you to maintain a luxury lifestyle you could not dream of in the UK.
The standard of living is high, for overseas visitors and locals alike, making Cyprus an extremely pleasant to visit or live. Food, clothing, facilities and services are just like the ones you are accustomed to in the UK.
No hidden costs as far as your property is concerned, knowing exactly how much it will cost you and being a fraction of what one needs to pay in the UK.
8. Solid Property Ownership
Freehold properties unattached from expiry dates, land rates and passed to your descendants, meaning its your’s for ever.
Based on a solid property law, partly a heritage of our Ex- British colony status, ownership is straight forward, you are actually in control of it from the moment you sign a contract, a copy of which should always be deposited at the land registry.
From that moment on one can sell, or do whatever else he wishes with his property.
9. Investment Opportunity
Property price in Cyprus is on average a fourth of the value in Western Europe.
This makes it possible for you to own a second home, for holidays or leisure, a more luxurious retirement home, or even a lucrative investment opportunity.
Although so much cheaper it appreciates steadily over the years and especially during the last five, on a rate of 15 to 25% per year depending on location. Accompanied by a strong currency your property’s net worth is growing at a very healthy pace.
With the European Union accession recently, a healthy and growing economy, a rising overseas property demand and the right for multiple ownership and rent out by all member state citizens, provide the foundation for a momentum that will keep healthy property price growth for a good many years to come.
10. Tax Advantage
Individuals that become tax residents of Cyprus pay 5% income tax, while
€ 3,500 are tax exempt, applying to amounts remitted to Cyprus from pensions or income arising from overseas investments.
Moreover, double taxation treaties signed with a number of countries assures that you won’t be double taxed. (United Kingdom , Ireland , Germany, France to name a few).