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Expats save money in Cyprus

Article Date : Wednesday, March 19, 2008       Bookmark on Facebook   Bookmark on Del   Bookmark on Digg   Bookmark on Facebook   Bookmark on Reddit   Bookmark on Spurl   Bookmark on Furl   Bookmark on Yahoo   Bookmark on Magnolia   Bookmark on StumbleUpon   Bookmark on BlinkList

Many expatriates are enjoying financial benefits as a result of moving to Cyprus, a media report has revealed.

According to Gulf Weekly, the Mediterranean island offers a number of perks to foreign nationals who live there permanently.

The newspaper highlighted the lower cost of living as one of its main attractions, along with its favourable tax regime.

In addition, it said the price of a house in Cyprus is much lower than the value of a comparable property in a place such as Spain or France.

Gulf Weekly remarked: "Cyprus [is] firmly in the top slot for Britons seeking a more attractive destination in retirement."

The newspaper added that the island is currently reaping the benefits of a "prospering" economy.

This comes after the Telegraph predicted that the recent change from pounds to euros would also boost Cyprus's appeal to investment property buyers, due to factors such as favourable interest rates and rising house prices.
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