Buying Retirement Property in Cyprus

Cyprus is the last country in Europe where retirees get a fair deal – taxation on pension income is fixed at 5%, the cost of living is lower than in the likes of the UK or Spain and the quality of life is exceptionally good with expatriate retirees enjoying the best of both British and Cypriot culture in Cyprus.

What all this adds up to is the fact that increasing numbers of retirees and pre-retirees are buying retirement property in Cyprus.  In this article we take a look at the retirement property options available in Cyprus for those seeking sheltered tranquillity, those in search of splendid isolation and those just seeking the best deal for a stunning home in the sun.

In retirement the majority of people who move abroad require the following essentials: -

1) relatively easy access to decent medical facilities
2) relatively easy access to an airport
3) access to a like minded community for making friends and socialising
4) access to shops and general amenities such as a restaurant

The good news is that because Cyprus is quite a small island with most residential communities sprinkled along the stunning coastline, no matter where you decide to buy your retirement property in Cyprus you will have straightforward access to all of the above.  For example - there are airports in Larnaca and Paphos, quality medical facilities in Larnaca, Limassol, Paphos and especially Nicosia, expat retirees live all over the island and there are at least mini-markets as well as decent tavernas within virtually every single community no matter how small – and all the main towns in Cyprus offer superior shopping and dining facilities.

Naturally those wishing to be right in the heart of a community where they will meet like-minded people may choose property in Paphos in Cyprus – particularly Kato Paphos - because this is where there is currently the strongest community of international citizens and foreign retirees in Cyprus.  Property in Paphos is therefore highly in demand and as a direct consequence, it is among the most expensive on the island!

If you’re looking for slightly cheaper alternatives but within reach of Paphos why not consider moving away from the town towards and up into the mountains as far as Drousia (Droushia) for example.

If you’re not interested in being right at the heart of an expatriate community, a growing area of interest among property hunters is the Troodos – here properties are far cheaper than on the coastline and the benefit is, the area is a lot cooler in the summer because of its elevation so that those who wish to escape the heat that gets quite oppressive in July and August are able to do so.  There is far less development going on in this protected part of Cyprus but it is still possible to find anything from an apartment to a detached villa to a traditional Cypriot property.

Finally, before you commit to buying retirement property in Cyprus, travel to the island, spend time driving around and familiarising yourself with the differences between the towns and communities and then you will know where abouts it is that you feel most at home This will then lead and direct your ultimate property search.

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