There are many reasons for this. With reference to the Times survey it was a comprehensive Worldwide analysis taking all factors into account such as taxation, living standards, pensions, healthcare, crime and several other factors. Last but not least quality of life. The Cyprus economy is one of the few places in the current threat of Worldwide recession which has a growing stable economy. Property prices here are still rising impressively. Buying a property in Cyprus is still a safer bet than anywhere else at present, due to the recent introduction of the Euro, and the current escalation of property prices here.
Overwhelmingly voted as the best place in the entire World to retire and with some of the lowest property prices anywhere in Europe, a combination of the pensions system and a World leading taxation system for example: a 10% tax as a limited company and generous pension taxation as well as a capital gains tax, which is the envy of most countries in the World. Lastly the inheritance tax rate is equally as impressive. All in all purchasing properties in Cyprus whether it be a single property to retire to or a large company looking for a tidy investment portfolio, this destination is the place to buy. Also, the economy is set to rise substantially over the next 10 years with massive investment in the islands structure and tourism by the Cyprus government.
Crime itself is virtually zero and the healthcare system is also highly regarded. The legal system is conversant with that of the UK and many lawyers are fluent in English, having trained in the England, however this being the only snag! they charge almost as much as their english counterparts. All humour aside, lawyers everywhere do. With all of the publicity regarding Cyprus at the present time the Island looks set to continue being massively popular. Purchasing property here in the future looks a viable option as their are many large scale investors buying tidy property portfolios at present around the Island, this is another sign that this is the place to buy.
If you are looking to buy property here than there is plenty of information available about this! The cardinal rule is that before you even consider buying a property you should use a Cypriot lawyer and only a member of the (CYPRUS BAR ASSOCIATION) If you wish your purchase to be set in stone. There are not the issues her like Spain or other countries for example, but in order to protect your investment securely this is the only way to do it. Some developers may recommend using a lawyer but there have been a few conflict of interest issues related to this. The best way to avoid any potential problem is to seek an independent Lawyer! Then you will be assured of a hassle free purchase.
Some people have been advised to download property purchase contracts from the internet! Again this is bad practise, every contract should be, and is unique. Only by using a bar association lawyer will you be certain that you have every protection known to mankind.
The article was written by “David Copeland" with http://www.1cyprusproperty.com/ as a reference guide