I was over the moon when the Cypriot government announced it's plans to introduce the Euro as it's currency as I knew it would really help on the Cyprus property market into a new dimension. There were those who doubted it's effectiveness in such an under developed nation but the current property market in Cyprus is just booming.
Prices are already rising healthily at around nine per cent a year, compared to five per cent the year before. A closer look at the Cypriot market shows that the rush to buy land before the 15 per cent VAT on land purchases kicks in on January 1 ... plus low interest rates, the arrival of several budget airlines and a shortage of property for sale ... have also helped to spur on property prices in southern Cyprus of late.
It also helps that many Brits have a soft spot for Cyprus. And that's hardly surprising considering that this Mediterranean isle has the complete summer holiday package. Friendly locals, sandy beaches, stunning scenery and over 300 sunny days per year all combine to make this something of a holiday gem. All of which explains why so many of us are looking to Cyprus for our place in the sun.
Although the majority of overseas buyers still come from the UK, other nations are beginning to get a foothold on the Cypriot property ladder. "Since its accession to the EU, in 2004, more countries have become aware of where Cyprus is and it has brought new purchasers from other countries. "Cyprus now attracts investors from the Middle East and other European countries." And with recent changes in VAT legislation (15 per cent on new properties), the market for VAT-exempt properties in particular is hotting up.
The Cypriot Government also believes in looking after the environment ... properties cannot exceed a certain height, density is monitored and green areas are planted within developments. Everything is being don the right way in Cyprus and if you want to find out more then just take a look at the Cyprus Informer blog linked below. - 15266
Prices are already rising healthily at around nine per cent a year, compared to five per cent the year before. A closer look at the Cypriot market shows that the rush to buy land before the 15 per cent VAT on land purchases kicks in on January 1 ... plus low interest rates, the arrival of several budget airlines and a shortage of property for sale ... have also helped to spur on property prices in southern Cyprus of late.
It also helps that many Brits have a soft spot for Cyprus. And that's hardly surprising considering that this Mediterranean isle has the complete summer holiday package. Friendly locals, sandy beaches, stunning scenery and over 300 sunny days per year all combine to make this something of a holiday gem. All of which explains why so many of us are looking to Cyprus for our place in the sun.
Although the majority of overseas buyers still come from the UK, other nations are beginning to get a foothold on the Cypriot property ladder. "Since its accession to the EU, in 2004, more countries have become aware of where Cyprus is and it has brought new purchasers from other countries. "Cyprus now attracts investors from the Middle East and other European countries." And with recent changes in VAT legislation (15 per cent on new properties), the market for VAT-exempt properties in particular is hotting up.
The Cypriot Government also believes in looking after the environment ... properties cannot exceed a certain height, density is monitored and green areas are planted within developments. Everything is being don the right way in Cyprus and if you want to find out more then just take a look at the Cyprus Informer blog linked below. - 15266
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Read these Cyprus Property Tips produced by the illustrious Tim Martins and check out his Cyprus Holiday Blog
