 Nature has been specifically generous to Cyprus and the island has several of the best beaches in the Mediterranean Sea. Its geographical position signifies an almost perfect climate which has helped the Island preserve one of the fastest growing property markets in Europe. The common price of property has lingered very low in comparison with UK or even Spain. Now with over 30 main airlines operating the two major global airports in Larnaca and Paphos, shareholders can have a taste of home with further sun and sand.
If you buy a house, villa, or apartment in Larnaca, you’ll find out all the benefits of having a property on the island since the cost of the properties is increasing almost every year.
In some areas it’s probable to obtain a gross income from your investment in the region of 4%-6% of the property’s value.
The Cyprus property market gives you great chances to invest. Both capital and revenues returns are something that you will find attractive in this section of the world. Cyprus is certainly the big achievement of the new EU states.
Economic Factors:
- Very strong, growing tourist industry.
- Legal system according to UK standards.
- One of the fastest growing property markets in Europe.
- Full EU member country.
- Low legal fees
- No legacy tax on all estate worldwide property for eternal citizens
- Modern and efficient accounting and banking services.
- Property prices increasing at around 20% per annum.
- Deafening holiday rental market with huge increase in tourism.
- Low cost of living.
- Favourable tax system of only 10% corporate tax and double taxation with 40 countries.
- Pension income taxed at only 5%.
- No legacy tax on all estate worldwide property for eternal citizens
- Highly developed communications excellent telecommunications and transport.
- Bilateral investment agreements with 16 countries.
- Properties in Cyprus considerably lower priced than competitive markets of Portugal, Spain and France.
- Economically stable.
- Free market economy.
Natural and Cultural Factors:
- Good conveniences and services for foreign emigrants who incorporate effortlessly into an English speaking community.
- Magnificent beaches and prehistoric monuments.
- Gentle winters with rainfall and hot summers make Cyprus’s climate one of the healthiest in the world.
- Ordinary cheap straight access through low cost airlines from various UK airports with short flight times.
- Multicultural with strong Greek, UK, Turkish and Middle Eastern influences.
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