Property Investor information: Cyprus
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Property Investor information for: Cyprus
Immerse yourself in a culture that draws on Europe, the Middle East, and 9,000 years of constant invasion. Crusader castles rub shoulders with ancient vineyards, frescoed monasteries overlook citrus orchards, and sandy, sun-soaked feet tread Roman mosaic floors.
Situated in the eastern Mediterranean Sea, the island of Cyprus sits at the corner of three continents. For centuries Cyprus has been the meeting point of Africa, Asia and Europe. The heritage of the island is clear even today, with the Green Line division between Greek and Turkish Cyprus an obvious symbol of the island's history.
Despite its divided past, Cyprus is on the road to greater unity. The Greek side of the island joined the EU on 1 st May 2004 and the European Union is improving multilateral relations with the Turkish side. This increasing connection with Europe is just one of the factors that have driven the Cypriot property investment market boom over recent years.
The island has an obvious geographical and historical appeal that has drawn increasing numbers of tourists and second home owners. The resulting property investment market boom is expected to continue for some time. Despite the fact that there have been significant price rises in recent years, the Greek side of the island remains at least 30% cheaper than Spain, and the Turkish side even lower than that.
The vast majority of property investors buy in new, purpose built developments which are generally of a good standard. There is a wide variety of property investment available ranging from low rise apartments in the Universal Gardens area of Pafos to luxury villas in the surrounding hills, and excellent value property around Protaras.
Cyprus has much to offer the visitor and with the current level of demand for good quality property investment, it has much to offer the investor as well.
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