Just a Thought
If you’re thinking about moving to a better quality of life in Cyprus, firstly, before you buy, I’d suggest you rent a place for a while to give you time to make the right decisions. The property boom started back in the early 2000’s, eased off a bit, but has recently been rejuvenated, to say the least. There’s development in all major cities with prices varying from town to town and location, location …
Cha-Cha-Changing
Cyprus is still a fast-developing country, and after our entry to Europe in 2004 and the Euro in 2008, the first invasion started just after that, and I was telling everyone then, Cyprus is an excellent investment, for many reasons.
Topical
I truly believe that now is just as good a time to invest in property in Cyprus, and I can see more than a few of the rich and famous popping over to see what all the fuss is about, and we all know what that means! … “No problem!” I hear the soon-to-be-richer farmers and fishermen shout!
Tax Laws
I heard on the radio recently, that there’s a millionaire leaving the UK every 45 minutes, and, it seems Cyprus is one of the countries preferred by many of them, partly because of our favoured tax laws … And, as we are the stepping-stone to the East, businesses will flourish, tourism will grow, we’ll still only have 35 to 40 days rain a year, hence all the solar power panels on the roofs, all leading into the inevitable future which will well and truly put Cyprus on the world map … as if it hasn’t been there for the past 12,600 Years!
Makes Sense
Needless to say, investing in property here makes good sense. Apart from being one of the best places in the world to live, I think the quality of life is unbeatable, and it has to be one of the top destinations for a sun, sea, and sex-on-the-beach holiday in Europe. And even after everything it’s been through, Cyprus still retains its culture. They live for their kids and for the table.
Take Your Time
Do bear in mind that making such an important decision will require the same care and attention to detail in Cyprus as in any other part of the world. So take your time, seek legal assistance, and please do your homework …
Versatility
There’s an extensive selection of property from studio flats in the Ayia Napa and Larnaca areas, starting at about € 75,000, rising significantly towards the Limassol and Paphos areas, due to lower building density and higher land prices. Obviously, prices increase as you add plot size, bedrooms, covered square metres and location, sea frontage, town, etc. An older two-bedroom, detached house with a little land or garden inland starts around € 130,000.
Something Else
More realistically, a new 2 or 3 bedroom house with a sea view, that most of us would live in, would more likely start at € 250,000 … Then of course you could buy an old dilapidated home in an inland village or even the old town of the capital, Nicosia and do a total refurb … the options are limitless …
Deeds
Finally, do make sure that the Freehold Documents are available, as there’s some silly law that seems to hold up this particular detail, which may cause you problems in the future, although I hasten to add, often as not doesn’t. All in all, it’s as safe, if not safer, to buy property in Southern Cyprus as in most other European countries. The laws reflect a great deal on British Law, so as long as you have a reputable estate agent, you should be set …
Selected
We’ve added a few excellent Estate Agents, Developers and Property Management companies to our site … If you want to chat about it, please get in touch with our editor, Tony Dynamou …
Cyprus, A Great Quality of Life!
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