Second home in Cyprus - a success story
A British couple have spoken positively of his recent acquisition in Cyprus and said that they are enjoying a “brilliant” life since they moved from from Stirling in Scotland.
Derek and Penny Wallis have spent nearly £275,000 to get a villa in Cyprus. They said that their quality of life had improved after moving to Cyprus. They also revealed that they have been able to take advantage of the favourable tax regime in Cyprus.
Furthermore, they said that their property purchase has appreciated in value and has increased over 40 per cent in the last eight months. This means that they could find themselves in line to benefit from considerable capital growth, as the future sale price will be much higher than its current value.
Mrs. Wallis commented that she he particularly enjoyed the good weather and she is now able to enjoy a much more relaxed pace of life.
Paul Collins, property editor of Buyassociation has said that the reason Cyprus is very popular with expatriates and particularly retirees from the UK is largely because it offers a lot of similarities with Britain, especially in its legal system. Explaining this Mr. Collins commented that People who are planning to spend their retirement years overseas don’t want to be somewhere that’s completely different from their homeland.
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