Why invest in Cypriot property?
Cyprus offers a very attractive climate as well as a relatively untouched landscape ideal for the redevelopment of properties.
Furthermore, the property market in the country is still in its infancy - and thus offers very cheap prices for both buyers of houses and of land prime for development.
The Turkish-governed north of the island has lagged behind the southern part in recent years - with tourists and businessmen rushing to the island's southern area. Because of this, the government is actively seeking to implement policies that will promote tourism.
The northern part of the island has two modern airports - both of which are seeing traffic increase exponentially. The region's infrastructure is also constantly being upgraded. Economically, the government is still tackling historically high rates of inflation - but the area should prosper thanks to the millions of euros pledged by the European Union.
The southern section of the island is also experiencing a period of increased stability - with the UN-protected border control between the north and south helping to provide the conditions needed for economic growth. There are large fiscal incentives for individuals who plan to invest funds in the Greek-controlled southern Cyprus, with the average price of property well below that found in larger countries such as the UK and Spain.
The sell-on value of property in Cyprus remains very strong - with demand outweighing supply for premium properties in the southern Mediterranean island. There is no capital gains tax in southern Cyprus - while legal fees do not apply to property and finance is relatively easy to come by. The tourism sector is thriving, but infrastructure in this regard is still relatively undeveloped - meaning that the potential for future growth remains promising.
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