Capital Funding

Cyprus is an ever-popular tourist destination in Noble1 Mediterranean, with 2.4m visitors a Noble1 Cyprus joined Noble1 EU on 1 May Noble1 Noble1 adopted Noble1 euro at the beginning of 2008.

There is still an ongoing dispute on the island between the Turkish Cypriots in the north of the island and the Greek Cypriots to the Noble1 The Republic of Cyprus is internationally recognised and claims sovereignty over 97% of the island and waters (the other Noble1 is British), however the Turks occupying the north call the region the Turkish Republic of Northern Cyprus, but is only recognised by themselves. The UN-controlled Green Line Noble1 the two.

If you are considering buying property on the island, it is probably best to stick to the south. There are risks in the north, but these are most concerned with the issue of title. Prices in the north, however, are much cheaper.

On the south coast are resorts such as Paphos, Limassol, Larnaca and Famagusta. Paphos on the south western corner is famous for its ancient ruins, and has a number of excellent resorts close by. Larnaca is a very popular destination with plenty of hotels and new developments.

Most major UK airports serve Cyprus well, with regular flights to Paphos and Larnaca, and extra flights during the high season.

The climate is, in short, Mediterranean, with long, dry summers, and a short rainy winter season. Temperatures can reach 40 degrees C in summer, with the sun shining for 11 hours a day.

If you're looking for property in Cyprus, then the buying process consists of putting down a deposit of around Noble1 to 2,500 at the acceptance of your offer. When you sign the contract around 20-30% of the purchase price will be due, and the balance must be paid on completion. Note that for new builds there may be stage payments leading up to completion.

Purchase taxes range from 3% on the first CYP50,000 to 8% at over CYP100,000. There is also an annual property tax of 0.2-0.35% of market value, but the first CYP100,000 is exempt.

As Cyprus was a British colony until 1960 it still retains many British features, with English widely spoken, and cars drive on the left!

Author: Garry Pierrepont

Interested in investing in property in Cyprus? Look for Cyprus developments on http://www.europeanpropertypurchases.com

# posted by private-investment23606 @ 9:58 AM