Cyprus Riding High

With the investment bandwagon rolling through the emerging markets, it would be easy to overlook some of the most tried and tested formulas closer to home. One place worth a good look is Cyprus, a country with strong historical ties to the UK.

Here’s why Cyprus remains close to our hearts and a place to buy:

1. The climate is as good as you’ll find anywhere else in Europe.
2. The cost of living is lower and this, in addition to the climate, is the reason many Brits of Cypriot origin either retire ‘home’ or have a property there.
3. Due to our historical ties, English is widely spoken and there are so many Cypriots with family in the UK and expats who have happily decamped there, it feels like home. Don’t underestimate how important that is when looking to relocate.
4. A favourable tax regime for non-nationals.
5. They drive on the same side of the road. Don’t knock it! Some people just can’t adjust so this is a significant advantage.
6. Easy access via cheap flights.
7. Crime rate is lower than in the UK.
8. Cyprus isn’t just about beaches as it’s a beautiful island, the third largest in the Med after Sicily and Sardinia, with great scenery and sites of historical interest.
9. Subject to much upgrading and improvement of its infrastructure. Joined the EU in 2004 and the euro is due to be phased in during 2008.
10. Some areas offer considerable scope for capital growth due to the improvements underway, ie the Larnaca area.