Are you enticed by the prospect of low property prices, low taxes, and an affordable lifestyle? It may be time to buy a home in Cyprus. A holiday paradise for many, you might not know, is that there are also many benefits to buying property in Cyprus. Now is the best time to purchase real estate in Cyprus, and it is only going to continue to get better. Cyprus is a little-known secret that soon everyone will know about, and now is the time to get your foot in the door.
Low property prices
The weather may be fantastic in the Mediterranean, but the prices certainly aren’t. It’s no surprise that you can find a lot of property for a reasonable price in Cyprus, but it’s the extent of this that is surprising. The island’s property market is still recovering from the recession, and it has been found that house prices are half those in Spain and one-third those in the UK.
Low tax rate
A lot of people are concerned about the high taxes levied on property when they’re renting and how much they’ll have to pay when they do buy their own home. Cyprus is one of the countries with the lowest tax rate on property in Europe. Not only that, but you’ll also have more cash in your pocket thanks to the low rate of income tax.
A wealth of nature
If you’re the outdoorsy type, then Cyprus has various natural surroundings to take advantage of. Not only that, but there are a lot of public holidays to make the most of the opportunities that nature can offer.
An affordable lifestyle
After the UK voted to leave the European Union, many reports reported that people were looking for alternatives to the UK. Cyprus is one of the countries where you can buy a property with little to no money down while maintaining an affordable lifestyle.
A great place to retire
Cyprus is fast becoming a favorite for anyone looking to retire. With a climate and lifestyle that attracts outdoor enthusiasts; it’s no wonder that Cyprus is popular with so many people of different ages.
Friendly locals
If you’re moving to a foreign country, one of the biggest fears is feeling like an outsider. But there’s no need to worry about that in Cyprus because the locals will go out of their way to make people feel welcome.
A great place to learn a foreign language
Learning a foreign language can be one of the most fulfilling things you ever do. With so many people living abroad, many of whom speak English, it’s no surprise that many choose to learn a language.
Conclusion
This list could go on, but the critical point is this – there are many reasons to buy a property in Cyprus. What’s important to remember is that you need to do your research. Not all foreign countries treat their property market in the same way, and you may be surprised at what you find.
However, if you follow the tips above when researching a property in Cyprus, it should give you some great results. You’ll also find many other benefits to buying property in Cyprus.
