Cyprus sees "real upsurge" in investor interest

Article Date : 08 May 2007

Cyprus' property market is "booming" as interest from British investors sees a "real upsurge", according to Buy Abroad.

The estate agent said that Brits view Cyprus as a "safe place to buy" because of the land registry system, its imminent entry into the eurozone, its tax benefits and the fact that most people speak English.

Buy Abroad added that Cyprus is a "very good place" when it comes to retirement or purchasing an investment property.

Commenting on the tax implications, John Reilly, managing director, said: "The law is very similar to the UK; it's also a tax-efficient environment ? there's no inheritance tax in Cyprus and corporation tax is a lot lower than the UK.

"So it's a much cheaper place to live and you don't have to learn a new language and you can drive on the left and it's warm all year round."

Last week, real estate firm Property Abroad said that Cyprus is a good place to invest because of the growing British expatriate community.

Cyprus sees "real upsurge" in investor interest

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