Locations - Cyprus
Cyprus
This presents a superb opportunity to invest in one of the most stable economies in the EEC, in a country which is fast catching up with Spain and France as the most sought after location for property investment. With projected double digit growth, a burgeoning rental market and highly competitive lending, Cyprus is a must for any discerning property investor
Why Cyprus?
Reduction in UK annual growth
A need to consider higher capital growth abroad
New EU member
Joining the euro in January 2008
Falling interest rates
80% 30 year mortgages, 90% subject to status
Steadily growing tourist industry
Large, increasing ex-pat community
Booming economy
12 month tourist season
Expanding golfing industry
Investment hub between East & West
Similarities with the UK
Legal, banking and accounting systems
Driving on the left hand side of the road
English is the 2nd language
Central hub for cruise liners
Natural point of departure for Egypt, Israel, Lebanon and the Greek islands
800 mini cruises per annum from Limassol
250,000 passengers
30 of the biggest international cruise ships dock in Limassol and Larnaca with over 100,000 passengers
Holiday makers
340 days sun per annum
Summer humidity between only 40% - 60%
Crystal clear Mediterranean sea
The next golf Mecca?
Championship courses at Aphrodite Hills and Planning applications for 14 new courses
Competitive green fees
No overcrowding
Water sports
With over 300 days of sun per annum all manner of sports available
The Zennobia ferry one of the top 10 scuba diving sites in the world since 1981
Atlantis reputed to lie off the coast of Cyprus
The Locations
The main international airport of Cyprus is located in Larnaca. To cater for an ever increasing number of visitors, however it is being completely rebuilt and modernised over the next 2 - 3 years. To further enhance the popularity for tourists, the impressive seafront promenade is being extended in both directions with all the supporting facilities. Ideal for those who love city life, with exclusive shopping areas, a busy marina and delicious international cuisine including some of the best fresh fish restaurants available.
Protaras is the tourist resort in Paralimni and lies in Fig Tree Bay, one of the most popular holiday destinations on the island. Some of the best beaches in the whole of Cyprus complement the crystal blue waters and secluded bays which attract tens of thousands of visitors every year. Water sports fanatics will find most sports catered for with top quality equipment on offer Larnaca airport is just 30 minutes from Protaras, making this ever popular resort easily accessible.
The well known resort of Ayia Napa is just 10 minutes drive to the south of Protaras and offers vibrant nightlife for the young at heart and sandy beaches on which to soak up the sun, the best of which being Nissi Beach, just 10 minutes walk from the centre. For those searching for traditional Cyprus Paralimni and Deryneia are just 5 minutes north of Protaras and are very popular with the ex-pats who are looking to integrate with the local population.
Famagusta once the St. Tropez of Cyprus, lies a few miles to the north, just over the border into the Turkish controlled sector. A ghost town now, but with the potential to create huge rewards for those lucky enough to own businesses and property in the immediate vicinity as and when it is returned to the Greek Cypriots.
The town of Paphos is included in the UNESCO list of cultural and natural treasures of the world heritage. Wherever one treads in Paphos there is a glorious history which dates back thousands of years, to the time when the goddess Aphrodite emerged from the seas. Museums, archaeological sites and medieval monasteries abound. Much of the life of this vibrant town is centred around the delightful harbour, complete with fishing boats, yachts and cruisers, and overlooked by the impressive fort last rebuilt by the Ottomans in the 16th century. A short drive takes you into the beautiful hills surrounding Paphos with many small villages offering an insight into traditional Cypriot life. Paphos hosts a large and ever growing British ex-pat community and with the local international airport just 15 minutes from the centre, an ever increasing number are choosing Paphos as the right place to invest, whether for rental, holiday or retirement properties.
