Expats enjoy ‘best of both worlds’ in Cyprus
Cyprus is proving to be highly popular among expatriates from Britain as it offers both lifestyle benefits and investment opportunities, according to experts.
Expat Network said that many people from the UK particularly retirees are interested in setting up home in another country. Sheila Hare, director of Expat Network, commented that Cyprus is one of the most popular locations, particularly among retirees.
Expatriates have praised the good transport links to Cyprus from UK. The high frequency of flights make Britain easily accessible from Cyprus and the journey time between Cyprus and the UK is four and a half hours which means that they were still very close to their relatives.
Gulf Weekly has reported that the Mediterranean island offers many tempting features which include fabulous weather, delicious cuisine, culture and architecture.
These attributes have proved to be so appealing that retirees are now choosing to live permanently in Cyprus to have the benefit of the Cypriot lifestyle. Gulf Weekly has further added that Cyprus is in the top slot for Britons seeking a more attractive destination in retirement.
Scottish retiree Charlie Burrell said that he is able to have the benefit of the ‘best of both worlds’ in Cyprus, as his new home has good capital appreciation and his quality of life had also improved. He told the Sunday Mail that he purchased his home for £82,600 in 1999, whereas now it is valued at £192,000.Nevertheless, Mr. Burrell stated that he had no plan of selling and wanted to continue living in Cyprus. The Royal Institute of Chartered Surveyors (Rics) official figures revealed that property values in Cyprus went up by 15 per cent in 2007. This suggests that property owners in the island can get high returns should they choose to sell their property on at a later date.
This comes after the Sunday Mail reported Cyprus as one of the popular destinations to invest in overseas property.
Popularity: 43% [?]
