Cyprus is a very popular tourist region but it also houses a vast number of businesses. It combines historical Greek style with modern style from days when it became vital to the British Empire because of its location between Europe and Asia. This British influence is still very strong; the vast majority of the country’s income is generated by the British tourist trade and there are an estimated 50,000 expatriate residents living in the country. This means, of course, that English is a very widely spoken language making it easier for those moving to the area.
Featured Properties in Cyprus
Off Plan Property in Cyprus
This popularity has seen the rise of the developer and, subsequently, an increasing number of off plan properties coming on to the market. An off plan property is one that has yet to be built. It is usual for off plan homes for sale to be around 12 months from completion but they are also available at reduced prices when compared to the prices of the finished property. There are also a large number of rental properties available at very reasonable prices. You may want to rent a property when you first arrive while waiting for completion of your purchase.
Prices aren’t as cheap as in some countries because of the popularity of Cyprus and if you are looking for a property on or anywhere near the beach then you should expect to pay considerably more. In exchange for the money, though, you will be treated to as many as 300 days of clear and incredibly clement sun.
Property in the Land of the Kings
Cyprus, the land of the kings, is essentially two areas – the North and the South. Most people choose to relocate to the South because while the North may offer more attractive prices, purchases are also very risky. There is a very real risk that you could lose your entire investment by buying property in the North. However there is a lot of land for sale in the North as well. As a developer it is more likely you would be interested in buying development land or property in the South.
Property in and around Paphos
One of the most popular regions of Cyprus is Pathos, the capital of the Western region. The area only has 27,000 residents and consists of the coastal resort and the town itself. As well as the traditional mosaic floors and traditional promenade and the old harbour, it also features modern restaurants, hotels and other amenities truly encapsulating the eclectic mix of old and modern.
Paphos is also home to the main shopping centre in the region and Coral Bay, one of the most picturesque coast lines on an incredibly picturesque island. Prices may be slightly higher than in other countries, a 3 bedroom detached house costing the equivalent of £150,000 but there are many benefits in exchange. The cost of living is also comparably low in most cases. When you first begin looking to buy property in Cyprus, looking online will help you research the area and find the appropriate properties.