The country of Cyprus is so much more than a popular holiday resort!

Cyprus is an extremely attractive location for retirees, second home owners and investors seeking a stable market in which to entrust their finances.
The real estate market in Cyprus represents an exceptional opportunity to foreign investors whilst the very location of the island ensures that it is a favourable choice as it is strategically located at the crossroads of Asia, Europe and Africa.

Capital appreciation in Cyprus averaged 20% in 2007 which was one of the highest and fastest growing in Europe according to the Royal Institute of Chartered Surveyors annual report on the European housing market. This upward trend was attributed to the recent adoption of the Euro by Cyprus however property prices are still so much lower than many other European countries. Cyprus has been a member of the European Union since May 2004 and offers one of the lowest corporate tax rates in the EU including a Double Tax Treaty with the UK and many others.

With a Capital Gains Tax of just 20%, Corporation Tax for Cypriot Limited companies standing at only 10% and just 5% income tax for foreign residents permanently residing in Cyprus it is clear to see why so many investors are choosing our Island. Tourism in Cyprus is predicted to grow by 4.6% over the next 10 years, contributing some 13.9% to the country’s Gross Domestic Product (GDP) by 2014 which is great news for property investors looking for a more stable market.
Cyprus practices a legal and banking system based on that of Britain, often using English speaking lawyers and bankers which makes it much more comfortable when investing, choosing mortgages or managing your money.

Cyprus enjoys 340 days of sunshine every year ensuring that clients wishing to rent out their properties receive reliable year round rentals from holiday makers and those wishing to relocate or retire in a warm and enjoyable place are never disappointed. The friendly locals, superb state of the art medical facilities, low crime rate and excellent education system (private and local) add to this appeal. Cyprus boasts International golf courses, marinas, shopping centres, restaurants and numerous leisure pursuits which all ensure that there is something for everyone who visits the Island. Other plans for the Island include a luxury marina and theme park in the East which will appeal to every demographic worldwide.
Larnaca airport is currently under expansion to accommodate more visitors each year and to include a more extensive choice of international flights which promise a worldwide clientele who will be able to fly directly to Cyprus whilst ensuring that residents in Cyprus have a greater choice of flights to visit other countries. This will be exceptionally useful for those using Cyprus as a base for business as the increased choice of flights combined with the superb conference facilities on the Island guarantee a successful union.

Philippou Properties have an extensive knowledge of the Cyprus property market and the best ways for you to invest.

For more information or assistance please do not hesitate to contact our dedicated team on 00 44 882 8372