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Since the country joined the European Union (EU) in 2004, the
fortunes of Cyprus real estate are on an upswing. Not only with
holiday-seekers, but second home buyers now are also flocking
to the country mainly due to the excellent climate and large English-speaking
population. Although Cypriot Greek is the preferred language here,
the majority of people understand and speak English with considerable ease and as a bonus they also drive on the same side of the road as the UK.
Cyprus has no shortage of investment property opportunities all
across the country. However, the hottest regions from the property
investment point of view include property and areas like:
and many more regions including Protaras, Kyrenia,
and Famagusta. These places have witnessed maximum activity in
terms of real estate transactions over the past few years. Investors have shown tremendous faith in these areas due to their
potential to offer high returns. Moreover, these are either tourist
spots or in proximity to the hotspots of the country. Therefore,
you can easily expect a consistent rental income from vacation
properties in these towns.
The prices of real estate in Cyprus are on a lower pedestal compared
to the UK real estate prices. Apartments in Larnaca are available
from £100K, and a separate dwelling (residential home) can
be yours for £250K. The Paphos region is comparatively cheaper
than Larnaca and Northern Cyprus has properties well below £50K.
The range of properties available for investment purposes in
Cyprus include villas, mansions, residential homes, and holiday
property. All of these properties are in great demand from the
domestic as well as international investors. However, the membership
of the EU brings in a large number of European investors into
the countries real estate portfolio. Therefore, there’s an
added incentive for British investors, having an opportunity to
share the neighbourhood with fellow countrymen and other Europeans!
The rollicking property scenario in Cyprus is as much attributable
to the long coastline as it is to the vine-blessed mountainous
region, which is famous for its Cypriot wine. The country has
a certain degree of historical significance also and you can visit
the remnants of Roman and Greek civilization spread all across
the country. The capital city of Nicosia is particularly popular
among the real estate investors in Cyprus due to its ultra modern
lifestyle and easy accessibility to the leading business and commercial
centres in the country.
Cyprus is also a strategic base for several nations. This is
the reason that Turkey is a part of the North Coast of the country.
Though the area is disputed and awaiting settlement, it doesn’t
flare up into any kind of violent turmoil. Peace despite serious
situation here is also a contributing factor for the investors
interest in the area.
Administrative Convenience in investing in Cyprus
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The government of Cyprus is in an overdrive in order to promote
property investment climate in the country. The laws, bylaws,
rules and regulations concerning real estate in the country are
already on an easing road. While investing in Cyprus, make sure
you are always on the lookout for VAT-exempt properties and strike
really outrageous bargains on some of the prime properties in
the country. Banks and financial institutions are also trying
their best to make loans more lucrative and accessible for small
investors.
Cyprus follows common rules and principles for real estate investment
that are adding to the English legal system. The understanding
of the UK property laws come in handy if you are planning to invest
in Cyprus.
Cyprus is in a developmental mode, and this gives rise to certain
economic disparities in the country. Additionally, Cyprus has
one of the lowest average salaries in Europe, which acts as a
double-edged sword. On the one-hand, it brings lots of employment
opportunities in the country, also, there is an ever-growing gulf
between the rich and poor. Though poverty is not a very big issue
at present, the government hopes to address it before it escalates
out of hand.
Cyprus is considered to be one of the easiest countries to invest
with not many hurdles for foreign investors. However, it will
still be advisable if you hire a local attorney to handle all
the legal and administrative paperwork in order to peacefully
own and enjoy a Cypriot property.
Latest Properties Added in Cyprus
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Latest Added Cyprus  | 2 bed semi detached house in Peyia(Paphos)
The project is located in a quiet residential area, in the village of Peyia. Just a few minutes drive from the village square, where restaurants, supermarkets bars and banks can be found. Only five minutes drive to the famous Coral Bay beach and 15 d......
Ref:D71178
Prices from: £166,320 View More Details > | | |
 | 2 bed townhouse in Xylofagou(SE Coast)
Brand new two bedroom town house in the ever popular village of Xylafagou. This property offers fantastic value for money and consists of verandas front and back, a drive way, a large kitchen, spacious living room, guest w.c, two large bedrooms with ......
Ref:R9173
Prices from: £121,968 View More Details > | | |
 | 3 bed bungalow in Xylofagou(SE Coast)
This property really needs to be seen to be fully appreciated, as it is no ordinary bungalow. Built using only the finest materials, this far outstrips your average build by far; the current owners have built this to their own specifications and have......
Ref:R8027
Prices from: £420,156 View More Details > | | |
 | 3 bed villa in Ayia Thekla(SE Coast)
Located in the sought after Ayia Thekla area, this 3 bedroom feature property villa is in a very good position, with sea views from the front and rear of the property and in a quite cul-de-sac it really would be a fantastic buy. The ground floor has ......
Ref:R8013
Prices from: £236,808 View More Details > | | |
 | Office space for sale on Limassol Sea Front(Limassol)
Originally consisting of two apartments, this large office space is in the heart of the Limassol tourist area on the sea front. Located on the top floor of the building, the office is fully equipped with designated male female WCs, kitchen and centra......
Ref:R5021
Prices from: £7,105,032 View More Details > | | |
 | 3 bed bungalow in Pissouri(Limassol)
This Bungalow situated in Pissouri Village offers excellent value for money. The property has a covered area of approximately 140m2 on a plot of approximately 500m2. The property is for sale partly furnished, has a 8mx4m pool, central heating, air co......
Ref:R5138
Prices from: £318,384 View More Details > | | |
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