The Republic of Cyprus has always been a popular retirement location, especially for British retirees thanks to its familiar feel, its Mediterranean location and its low taxation for retirees.
The property boom which began in 1999, mainly in anticipation of its EU membership in 2004, has now stabilised, but property is still significantly cheaper than in Spain or France. Throughout the Republic of Cyprus, all types of properties are available, including city or coastal apartments, townhouses, villas and rural village houses.
Buying property in the Turkish Republic of Northern Cyprus (TRNC) is becoming increasingly popular with foreigners, especially the British. However, because of the division of the island following the Turkish invasion of 1974, land issues are a sensitive political, legal and emotional subject. If you buy property in the TRNC, it may legally belong to a displaced Greek Cypriot who will be able to reclaim it if the two parts of the island are reunited.
Our guide to buying a property in Cyprus covers all you need to know about choosing a suitable home and the legal and financial aspects of your purchase in the Republic of Cyprus and the TRNC. It also gives full details of the considerable risks involved in buying property in the TRNC.