Clark Retirement Home

For anyone developing a portfolio of investment property abroad or seeking a retirement home, investment in Cyprus property could provide high levels of investment return or provide an ideal setting for a second home .

The property market in Cyprus is heavily dependent on foreign investment, and while the strong euro has made southern Cyprus property more expensive, there are a number of other factors that should increase market demand and holiday leave rates in the north and south of the island in the coming years.

The introduction of cheap flights with carriers such as Easyjet and Ryan Air will go a long road to promote tourism and easy access, and at least one major route has already been established. EasyJet currently flies into Paphos Airport and Ryan Air are still negotiating with South Cyprus for a viable route to Larnaca International Airport.

Tourism is the primary industry of Cyprus, the demand for a long year for the rental of property in Cyprus, and for good reason. Cyprus enjoys a sunny climate all year round, with long summers and warm as the average of 27 degrees centigrade in the north and 30 degrees south. Winters are mild and temperatures rarely drop below 12 degrees centigrade, making it an ideal tourist destination at any time of year.

Moreover, the winter rains so that the island is lush green and verdant for winter, spring and early summer. All property in Cyprus can not be guaranteed to be close to an area of outstanding natural beauty, including vineyards, mountain ranges and beautiful coastlines.

Also for tourists and potential investors in property in Cyprus is that Cyprus is surrounded by hundreds of miles of open, sandy beaches. Investors can choose a location that offers miles of undeveloped areas by the sea, beaches or near developed tourist areas and lively as Ayia Napa, which are ideal for serving young adults and markets a family holiday.

Features such as the natural beauty of Cyprus, the miles of wild coast, the climate and history are unlikely to change significantly in the future. However, what the political and economic considerations must be a potential buyer of a property in Cyprus to evaluate before taking a decision to invest?

After the invasion of northern Cyprus by Turkey in 1974 the island has remained divided into two separate republics. But only the southern part of the Republic of Cyprus has been recognized by international bodies like the European Union and the United Nations.

Following the introduction of an elected government, the Republic of Southern Cyprus has been formally accepted into the European Union in 2003 and the Euro was formally adopted as the local currency in February 2008. This has provided political support and economic stability in the south of the island, which prospered during the last five years a significant increase in the value of property in Cyprus.

While a North - South divide 'is still in the prices of property in Cyprus, Northern Cyprus properties have received a boost after the separation of border crossings in 2005. In addition, recent improvements in the political situation has increased the likelihood of progression of long-term resolution of the conflict that has divided Cyprus into its northern and southern regions.

As with all investment decisions, it is wise for any potential investor in property in Cyprus to take expert advice and ensure that full advantage is taken of financial incentives and local investment.