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The purchase of property at home, let alone abroad is, for the majority of people, the largest purchase made in their lifetime.
It is therefore prudent to ensure that before you commit yourself to such an outlay that you have weighed up and considered all the relevant factors before signing an agreement of sale.
Property purchase in Cyprus ranks second to tourism in the economy, with a very large proportion of properties being purchased by foreigners for the following reasons:
» Retirement Homes
» Investment Purposes.
The location of Cyprus, at the eastern end of the Mediterranean which is the third largest Island in the region is fast becoming the “In Place” due to its excellent weather, friendly population and its location in relation to the rest of Europe.
Most destinations are merely a short hop away with daily frequent flights to all destinations within the region.
The Island has successfully negotiated to become a full member of the European Union. The result of this move, which is seen as crucial by the government of Cyprus to its continued growth, will also mean that prices of property will continue to rise due to demand by an estimated 20% across the board.