| Cyprus is fast becoming a property hotspot for | | | | community live in Limassol. A three-bedroom villa |
| thousands of British holiday home hunters | | | | in Limassol comes in between £180,000 to |
| disillusioned with the overdeveloped and | | | | £200,000. |
| overpriced Costas. Famous for its spectacular | | | | For those who want to avoid the tourist and |
| beaches, a climate that gives more sunshine days | | | | expat enclaves, a trip into the Troodos Mountains |
| than Spain and its rich and varied history, Cyprus | | | | will yield surprising results. The lush green hills and |
| offers a perfect mix of foreign and familiar. | | | | stunning scenery hide hundreds of small villages |
| Whether you're looking for a romantic mountain | | | | where the real Cyprus can still be experienced. |
| retreat or a villa by the sea, buying a property in | | | | Renovation projects are plentiful and one of the |
| Cyprus is a relatively uncomplicated process. Much | | | | best ways to find out what's on the market is to |
| of the paperwork involved in purchasing a | | | | travel into the villages and ask the locals. Stone |
| property was simplified in the run up to EU | | | | cottages in need of renovation sell for as little as |
| membership and an English based financial and | | | | £60,000 and can be restored for |
| legal system means that the buying process is | | | | £30-40,000, meaning that a stunning |
| quite familiar to most British investors. | | | | mountain hideaway in Cyprus can cost as little as |
| Many experts predict that the Cypriot pound's | | | | £100,000. |
| replacement with the Euro in 2007, will stimulate a | | | | If you are the adventurous type, you might |
| 50% rise in property prices so now is an excellent | | | | fancy building your own villa. While there will |
| time to jump on the property ladder in Cyprus. | | | | always be headaches where new builds are |
| But where are the best places to buy and just | | | | concerned, this approach can be significantly |
| what type of properties are available? | | | | cheaper than buying off-plan. There is also much |
| Paphos is one of Cyprus's most beautiful towns. | | | | greater control over the type of property you |
| Located on the south-western coast, the area is | | | | end up living in and standards are likely to be |
| also one of the quietest and most peaceful | | | | higher. Designing and building your own villa means |
| coastal spots on the island. Though the last five | | | | liasing with architects and builders. While your |
| years have seen more developers building in | | | | architect is likely to look after the administrative |
| Paphos, the essence of the quaint fishing village | | | | end with regard to permits and planning, it is |
| that existed here before mass tourism remains in | | | | always best to be close on hand during the |
| tact. Here you can expect to pay £59,000 | | | | building process. The alternative is to employ and |
| for a one bedroom, fully furnished apartment. If | | | | individual or agent to look after this for you. |
| you have £240,000 you could own your | | | | Building your own villas is likely to be up to |
| own villa on a 700 sqm plot with pool included. | | | | 40-50% cheaper than buying from property |
| More and more golf developments are being built | | | | developers and you won't pay extra for the |
| to cater to demand and a two-bedroom | | | | granite floor or air conditioning! |
| apartment on a golf complex is likely to cost in | | | | Cyprus is definitely the one to watch. With EU |
| the region of £150,000 to £180,000. | | | | membership, the country is enjoying an influx of |
| Moving around the coast to Limassol, property | | | | funds that are helping to further develop the |
| can be picked up at prices 10-15% cheaper than | | | | infrastructure. It is now possible to obtain |
| in Paphos. This might be due to the fact that | | | | mortgages in Cypriot pounds and interest rates |
| being the commercial and industrial centre of the | | | | are already falling and are likely to drop further |
| South Coast, Limassol lacks much of the | | | | when the currency enters the Eurozone! All this |
| character and charm that small towns such as | | | | bodes good news for the Cypriot property |
| Paphos have. The missing seaside feel however | | | | market and for those who missed the property |
| doesn't deter the British. Employment | | | | boat to Spain, now is the time to jump on board |
| opportunities are far more plentiful here and this | | | | and cash in on the property boom on beautiful |
| may explain why 20% of the British expat | | | | Cyprus. |