Investment Property in Cyprus
Together with our associates 'Investment Property In Cyprus' we can help you find Cyprus property for private use, for rental, for refurbishment and development.
Why invest in Cyprus property now...
Buy your investment property before Cyprus places 15% VAT on land sales Since EU accession, Cyprus is not only a tourist destination offering sandy beaches and holiday fun: It is the workplace, home, business destination and retirement home for over half a million people from everywhere in Europe.
Falling interest rates are set to fuel investment property boom in Cyprus With Cyprus joining the Euro zone in 2007, mortgage rates are expected to fall from 7.5% to 3.5%. It is anticipated that, consequentially, property prices on the island will increase by some 20%.
Investment and Buy-to-Let Cyprus Properties The tax system in Cyprus has advantages for all residents, especially the retired, making the island an excellent choice for investors in buy-to-let property. Some benefits for UK investment property buyers are:
Absence of Inheritance Tax.
Tax exemptions on overseas dividends and interest .
Exemption from Capital Gains Tax on profit from the sale of equities.
Tax exemption on profit from the sale of UK property, including investment properties.
Tax level only 5% on retirement income.
Tax exemption on retirement lump sums.
Tax exemption on profits of sale of private companies.
Tax exemption on capital sums from approved pension funds.
45% rise in property ownership overseas In the period 2004 - 2006 overseas property ownership increased by an enormous 45%: a further quarter of a million households more than in June 2004 own an overseas property.
The island of Cyprus...
Tourism in Cyprus is all year round with a May to September high season.
Cyprus crime rates are the lowest in Europe.
Conveniently for British visitors, Cypriots drive on the left side of the road .
Cyprus is highly accessible from the UK / Ireland.
Flight costs (typically £120 at present for a return ticket) are set to drop soon when the budget carriers commence operations.
Cyprus is friendly to the British; it's weather is mild; most Cypriots speak fluent English; the tax regime is relatively cheap; there is considerable British military presence; the legal system is based on English Law - these are attractive features for British retirees seeking the good life in retirement. Furthermore, they make the island a peaceful relaxed holiday destination and fine place to start a business.
Work has started on the expansion of Paphos airport, and there are plans to build 1,000 berths at the Coral Bay Marina.
New government policy may increase the number of 18-hole golf courses on the island from 3 to 9.
Being alongside fairways and adjacent to greens often adds as much as 40% to property values.
