It’s one of Britain’s favourite holiday destinations and in recent years, the market for Cyprus property has boomed thanks to demand from UK property buyers. It’s easy to see why – it has a fabulous year-round climate, some wonderful beaches, great golf courses and family-oriented facilities and English is widely spoken. Buying Cyprus property is also a dream that growing numbers of UK retirees are making a reality.
It takes around four hours to fly to this eastern Mediterranean island from the UK and flight options are numerous to one of its international airports. Among the favourite areas for overseas buyers of Cyprus property are Paphos, Larnaca and Famagusta.
Paphos has a number of quality golf courses, and properties on or near them are some of the most sought-after by foreigners buying Cyprus property. Beach and rural property abound in the resorts and inland areas on the western coast. Larnaca’s property prices are somewhat less than the national average at present, though proposed improvements to the area make it potentially one of the most promising property investment areas in Cyprus. Famagusta, in the southeast of the island, has some great beaches and lively resorts like Ayia Napa and Protaras.
For over thirty years, the country has been divided, and while there has been a recent push to promote tourism and buying property in Northern Cyprus, there is certainly a risk in investing in the Turkish-occupied region. However, buying property in the southern, Greek-Cypriot region is safe and easy. EU nationals can buy as much land as they like, but only one property in Cyprus at present.
A large British expat population already owns Cyprus property and with few year-round destinations offering quite such a friendly welcome for UK buyers, their numbers look set to increase.
Key Facts
Population: 792,604
Capital: Nicosia
Languages: Greek, Turkish
Area (km2): 9,250
Currency: euro
Exchange rate: £1 = €1.25
Dialling Code: +357
Emergency services: 112
Embassy in UK: http://www.cyprus.embassyhomepage.com
Health
The standard of Cypriot healthcare is generally very good, and English is widely spoken in hospitals and clinics. Visiting Brits will be given emergency treatment, but subsequent treatment will need to be paid for. Private healthcare is very reasonable and is probably the best choice for anyone spending a considerable amount of time there
Travel
There is a good selection year-round of both scheduled and charter flights from most major airports around the UK to Cyprus, with extra flights provided during the high season
Visa/residency issues
Any EU citizen can stay for up to 90 days in Cyprus without a visa. Those wishing to spend longer will need a residence permit, which can be obtained from the local Cypriot authorities. This is a fairly straightforward process for anyone coming from an EU member state. That said, anyone wanting to stay permanently will need something called an Alien Registration Certificate. Proof of residence, funds and identity are required for this
TOP TIP
While low prices are attracting certain buyers to the Turkish north of the island, would-be purchasers should be aware that buying a home in the north brings with it more risks than in the south, most notably where the issue of clean title is concerned
Our Guide to Buying Property in Cyprus has advice on the legal and financial aspects of buying property in Cyprus, plus regional overviews and information on the process for buying property in Cyprus.
We also have a range of articles offering independent expert advice about buying or investing in property in Cyprus:
as well as our overseas property news affecting the Cyprus property market or view our range of Cyprus property.