August 11th, 2007 by Ines
Cyprus is one of the more popular property markets in the world. Activity in the property market in Cyprus is brisk, including foreign nationals who buy and sell property. Non-Cypriots have been involved in all areas of the property market. Foreign nationals have been found to invest in commercial, investment and residential property in all areas of the country.
Most industry experts maintain that the property market in Cyprus should continue to do a brisk business well into the coming decade. With the entry of Cyprus into the European Union, more and more foreign nationals from EU member states likely will become involved in the Cypriot property market.
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August 11th, 2007 by Ines
The idyllic Mediterranean island of Cyprus has for years been a popular holiday and property investment location for the Irish.
Lying in the eastern Mediterranean, the island is located just off Syria, east of the Greek islands and immediately south of Turkey.
This combination explains the main influences on the country - Greece to the south and Turkey to the north. The northern part of the island was invaded by the Turks in 1974. The Turkish government claimed it was protecting the minority Turkish Cypriot population from a potential Greek occupation of the island.
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August 11th, 2007 by Ines
While Cyprus has a history of conflict which resulted in the permanent UN Policed buffer zone down the centre of the island, the political and military tensions seem to have lowered since the conflict last flared again in the 1970s. This new found calm has allowed both areas of the country to improve their offering to the world, foreign nationals, as well as their economies.
Viewed by many as the area where Christianity (in the North) meets the Muslims faith (in the South), there is much to see on this beautiful island. The North has been slower to develop due in the main to the historic lack of direct transport networks from the country to mainland Europe. This problem has been solved over the last few years with the building of new airports and direct flights introduced by some of the world’s major airlines.
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August 11th, 2007 by Ines
* A stunningly beautiful island that is becoming increasingly popular with tourists (tourism grew at 6% last year)
* Cyprus joined the European Union on 1st May 2004 with resulting macro economic boost
* The latest European Commission forecasts for Cyprus are
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August 11th, 2007 by Ines
An element of risk is attached to the purchase of property in any of the world’s emerging markets. The Turkish Republic of Northern Cyprus (TRNC) is no exception. But what makes the TRNC different from other emerging markets is that its seemingly complex property laws are related directly to a war some 30 years ago and the subsequent division of the island.
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August 11th, 2007 by Ines
The allure of the Cyprus property market for British investors has been emphasised by a figure in the real estate investment industry.
A venture in the Cypriot property market has become an increasingly attractive option for speculators in recent times, particularly with the news that the first golf course is soon to be constructed in the north of the island.
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August 11th, 2007 by Ines
From a taxation view there are 2 main ways to own properties in Northern Cyprus. The 1st is to own the North Cyprus Property as a foreign resident within the letter North Cypriot law.
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August 11th, 2007 by Ines
Cyprus was a former British colony which gained independence from the UK in 1960 after an uprising against British rule. The history of this island is blighted by fierce tensions and conflict between the Greek Cypriot majority in the south, and Turkish Cypriot minority in the north, which came to a head in 1963 when fighting broke out between the two parties. UN peacekeepers were deployed in 1964 and there is still a highly visible presence there to this day, in the form of a buffer zone policed by the UN.
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August 11th, 2007 by Ines
Ask the average Brit to describe the overseas location of their dreams and it’s a safe bet that most of the following would make it onto their wish list:
Guaranteed sunshine (340 days a year), long sandy beaches washed by clear blue seas, wonderful food, a rich and ancient local culture, very low crime rates, and a welcoming, English-speaking population with strong ties to the UK.
Factor in some of the most affordable house prices in the Mediterranean (20-40% below France and Spain), a very favourable tax regime, cheap flights, and a housing-buying system that has much in common with the UK, and you have a fair description of Cyprus.
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August 11th, 2007 by Ines
The Greek Cypriot economy is prosperous but highly susceptible to external shocks. Erratic growth rates in the 1990s reflect the economy’s vulnerability to swings in tourist arrivals, caused by political instability on the island and fluctuations in economic conditions in Western Europe. The economy remains heavily dependent on agriculture and government service. To date, economic conditions have drastically improved with the admission into the EU.
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