The property market in Cyprus is one of the most stable in the EU. The Cyprus economy is strengthened by it's macroeconomic stability which is evidenced by the favorable evaluations and comments of the European Commission, the International Monetary Fund and other international organizations. Cyprus had one of the highest GDP Growth rates of all EU Countires over 3rd second Quarter 2008.
Property prices are still lower than in many other European countries. A comparatively low tax rate and a Double Tax Treaty with many countries are attractions for investors. Capital Gains Tax of only 20% and Corporation Tax for Cypriot limited companies (through which you may own your property) stand at only 10%.Investors can take advantage of the relatively low level of taxation throughout Southern Cyprus.
Foreign residents permanently residing in Cyprus pay only a 5% pension tax. 340 days of sunshine a year make it a comfortable and enjoyable place to live. A low cost of living often makes for an improved quality of life. There is a comparatively low crime rate in Cyprus and friendly people make it a desirable place to visit or live. Tourism is steady and rising even under present global economic conditions. A huge push has been made by the Cyprus Tourism Organisation into previously untapped markets, made easier now by the entry of the Euro currency.
