Easy Property: Overseas property investment

Overseas property investment in Cyprus

Easy property offers the majority of its Overseas property investment in Cyprus. But why should I invest abroad on this island?
In 2004, the official travel and tourism board is expected to generate approximately 2,370m Cypriot Pounds of economic activity, growing to 4,665m Cypriot Pounds by 2014. This equates to annual growth of 4.6% in real terms over the next ten years, making Overseas property investment in Cyprus a good choice to prepare for your future. Additionally, tourism is expected to grow, contributing 13.3%, or 930.6 million Cypriot Pounds, to GDP in 2004. This contribution is forecast to grow to 13.9% by 2014. The positive economic development generates excellent buy to rent possibilities and increases the likelihood for high returns on your Overseas property investment in Cyprus.
The island is one of the most enchanting places in the Mediterranean, making Overseas property investment in Cyprus an attractive option for private investors as well as for people looking to buy a holiday or retirement home. It has up to 340 days of sunshine a year, allowing people to swim in the sea as late as November. The standard of living is high, while prices still remain at a reasonably low level. The crime rate is also low and to boot the island and its people are very friendly and welcoming.
Overseas property investment in Cyprus is experiencing a boom period. The annual house price inflation is currently running at 20% and higher. Cyprus is a popular choice for overseas property, taking over from Spain, France and Italy, which drives prices up and increases potential for high returns. Worldwide interest has accelerated and demand in Cyprus has risen since the island joined the European Union.
Furthermore, the prices of Overseas property investment in Cyprus are reasonably low when compared to the France and Italy in particular. Apartments can be purchased from as little as 40,000 pounds, a price one can only find in deprived areas of the UK. Even villas are affordable, allowing many families, who would have never been able to have the funds for a holiday home in the past, be part of this new and exciting development.
A further incentive the island has to offer for successful Overseas property investment is its low rate of taxation. It also has a double taxation treaty with the UK. Capital gains tax is only twenty percent. You can reduce the amount of tax you pay by managing your Overseas property investment via a Cypriot Limited Company which would mean you would only have to pay ten percent corporation tax. If you are retired, you can receive your UK pension free of UK withholding tax. As a foreign resident, you will only have to pay a five percent income tax.
The legal system on the island is based on the British legal system, different from the complicated and unfavourable property and building laws that have to be obeyed in Spain and Italy. Rather, it can be called an efficient system, easing land registry and making your Overseas property investment straightforward and secure. When you purchase with us, we will provide you with an English speaking lawyer, avoiding costly misunderstandings. Since the banking system is based in Britain, it will be less difficult for you to negotiate a mortgage and administer your money.
A premium Overseas property investment is likely to prove easy to rent out, since Cyprus is a popular destination for holidaymakers from the UK and other European countries. If you market your Overseas property investment correctly, the likelihood for good financial returns is high, because it is in easy reach from the UK and the weather allows it to be let almost all year round, making it a successful asset for the future.

Facts about Cyprus useful for overseas property investment

The island is located at 34° 33'-35° 34' north and 32° 16'-34° 37' east.
As the third largest island in the Mediterranean Sea, and boasting a hot climate in the summer and a mild climate with a lot of sunshine and little rainfall in the winter, which makes it an ideal location for a holiday home or a buy to let property. Anyone making an Overseas property investment in Cyprus is stunned by its breathtaking geography, particularly by the Troodos massif, the Pentadaktylos range and the Messaoria Plain. These stunning features, together with white beaches and blue clean sea, attract more and more tourists every year.
Most of the developments open for investment via Easy property are located at the southern coast, where the major towns Larnaka and Limassol are located. But we also offer investment opportunities in Paphos, Protaras, Paralimni and Nicosia.

Government

As a member of the United Nations, the European Union, the Commonwealth, the Council of Europe and the Organisation for Security and Cooperation in Europe the island offers buyers enough security and stability to make long-term investments.

Population

In 2003, Cyprus had an overall population of 818.200 inhabitants. These can be classified in the following groups:

• 79.1%: Greek Cypriots (646.900)
• 10.7%: Turkish Cypriots (87.800)
• 10.2%: Foreign residents (83.500)

The year ending 2003, the size of the population in the island’s main cities was as follows:

• Nicosia: 213.500
• Limassol: 167.800
• Larnaka: 74.700
• Paphos: 49.700