Paphos Property
Investing in Paphos Property For Retirement
The introduction of cheap flights through carriers such as Easyjet will go a long way towards boosting tourism and easy access and at least one important route has already been established. Easyjet currently flies into Paphos airport.
Tourism is the primary industry of Cyprus, with year long demand for rental of Paphos Property, and for good reason. Cyprus boasts a sunny climate all year round, with long hot summers that average 27 degrees centigrade in the north, and 30 degrees in the south. Winters are mild, and the temperature will rarely drop below 12 degrees centigrade, making it an ideal tourist destination at any time of year.
What is more, winter rainfall ensures that the island is lush, green and verdant for winter, spring and early summer. All Paphos Property can be guaranteed to be within easy reach of an area of outstanding natural beauty, including vineyards, mountain ranges and beautiful coastlines.
Of greatest appeal to tourists and potential investors in Paphos Property, is the fact that the island of Cyprus is surrounded by hundreds of miles of open, sandy beaches. Investors can choose a location that provides miles of undeveloped seafront locations, or beaches near to developed and lively tourist areas, which are ideal to service the young adult and family holiday markets.
Features such as the natural beauty of Cyprus, the miles of unspoiled coastline, climate and history are unlikely to change significantly in the future. However, what political and economic considerations must a potential purchaser of a Paphos Property evaluate before making a decision to invest?
Following the invasion of Northern Cyprus by Turkey in 1974, the island has remained divided into two separate republics. However, only the southern Republic of Cyprus has been recognised by international bodies such as the European Union and the United Nations.
Following the introduction of an elected government, the Southern Republic of Cyprus was formally accepted into the European Union in 2003 and the Euro was formally adopted as the local currency in January 2008. This has provided political and economical stability to the South of the island, which has prospered in the last five years with major growth in the value of Cyprus property.
Whilst a ‘North - South’ divide remains in Cyprus property prices, Northern Cyprus properties have received a boost after the disestablishment of border crossings in 2005. Furthermore, recent improvements in the political situation have increased the likelihood of the development of the long term resolution of the dispute that has divided Cyprus into its northern and southern regions.