The birthplace of Aphrodite - enjoys a warm climate, with 320 days of sunshine throughout the year. This stunning and vibrant island is steeped in 10,000 years of history, with a breathtaking choice of historical sites ancient ruins, nine Byzantine churches and the town of Paphos has been declared a UNESCO World Cultural Heritage site.

Cyprus is the third largest island in the Mediterranean with most of the population being Greek Cypriot. However since 1974 half of the capital, Nicosia and one third of the island have been under Turkish rule although this has virtually no effect on southern Cyprus.

This tiny Mediterranean jewel is strategically located at the crossroads to Europe, Asia and Africa, continues to attract overseas business including oil and telecommunications companies, who have set up operations in the capital Nicosia. As part of the EU, Cyprus plans to join the Euro monetary system at the end of 2007 bringing further development, prosperity and growth to the region.

The island’s accession to the EU in 2004 has resulted in improved infrastructure, communications and facilities, particularly in the medical and educational sectors. Its joining of the euro, scheduled for 2008, will further underline its position as a modern republic that welcomes people of all nationalities to its shores.

Property prices have risen by as much as 80 per cent over the past five years, but still represent good value in comparison with other, more established markets, such as Portugal, Spain and Italy, particularly for new build property, which is in the majority on the island.

To highlight the Government’s desire to increase Tourism within Cyprus, the Airports at Paphos and Larnaca has both recently been extended to allow grater capacity for tourism and as a direct result, low cost Airlines have increased the number of flights from many Airports around the U.K. and Europe. Moreover, investment has been granted to fund the building of two new Airports at Coral Bay and Larnaca along with a couple of 18 hole Golf Courses, Hotels and Shops.

The people of Cyprus are well disposed towards the British and as a result of long-standing good relations between the two nations and attractive taxation laws make it particularly appealing to retirees.

Buying Property In Cyprus

Purchasing property advice. Source British High Commission

Before purchasing property anywhere in Cyprus you are strongly advised to seek independent qualified legal advice, from a source which is independent of the seller.

Property issues are closely linked to the political situation. There are a number of potential practical, financial and legal implications, particularly for those considering buying property in the north - these relate to the non-recognition of the "Turkish Republic of Northern Cyprus", the possibility of a future political settlement in Cyprus, and claims to ownership from people displaced in 1974. There is also a risk that purchasers would face legal proceedings in the courts of the Republic of Cyprus, as well as attempts to enforce judgments from the courts of the Republic of Cyprus elsewhere in the EU, including the UK.

Separately, potential purchasers should also ensure that they are fully aware of the specific rules imposed by the administration on foreigners purchasing property in the north including the requirement to obtain consent to the transfer of property.

Time share/property salespersons tout for business in Cyprus, especially in the Paphos area. You should read the fine print very carefully and seek legal advice before signing any kind of contract. Under Cyprus law you are entitled to a 15-day “cooling off” period during which, if you change your mind, you should receive a full refund of any money paid. 

Before purchasing property anywhere in Cyprus you are strongly advised to seek independent qualified legal advice, from a source which is independent of the seller.

Property issues are closely linked to the political situation. There are a number of potential practical, financial and legal implications, particularly for those considering buying property in the north - these relate to the non-recognition of the "Turkish Republic of Northern Cyprus", the possibility of a future political settlement in Cyprus, and claims to ownership from people displaced in 1974. There is also a risk that purchasers would face legal proceedings in the courts of the Republic of Cyprus, as well as attempts to enforce judgments from the courts of the Republic of Cyprus elsewhere in the EU, including the UK.

Separately, potential purchasers should also ensure that they are fully aware of the specific rules imposed by the administration on foreigners purchasing property in the north including the requirement to obtain consent to the transfer of property.