Why should I choose Cyprus?

• The property market is STILL (despite the credit crunch) one of the fastest growing in the European Union. Prior to the financial crises, prices in some areas were increasing by an annual average of 20%. Obviously there has been a slow down BUT long term growth is still set to out perform other equivalent areas of Europe.
• Property prices are still lower in Cyprus (especially Rural Cyprus) than in many other European countries.
• There has been an increase in the number of golf properties available. Golf property prices can demand up to 40% more.
• Comparatively low tax rate, including a Double Tax Treaty with southern Cyprus and the UK.
• Capital Gains Tax of only 20% and Corporation Tax for Cypriot limited companies (through which you can own your property) at only 10%.
• UK pensions can be received tax free in Cyprus.
• Foreign residents permanently residing in Cyprus pay only a 5% flat rate of income tax.
• 340 days of sunshine a year make it a comfortable and enjoyable place to live.
• High standards of living, with good facilities, including top class golf courses.
• Low cost of living.
• Comparatively low crime rate and friendly people.
• Excellent medical facilities, education and offshore business advantages.
• Tourism is predicted to grow by 4.6% over the next 10 years, contributing some 13.9% to the country's GDP by 2014.
• British based legal system, where English speaking lawyers abound.
• British based banking system in southern Cyprus, making choosing mortgages and managing your money similar to “back home”.
• Member of the Euro zone from 2004 and fully fledged member from January 2008 - having adopted the Euro.
• Very efficient land registry with straightforward and well administered procedures.

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Can I obtain a mortgage in Cyprus?

Mortgages in Cyprus are widely available and the terms are similar to those in the UK. However, you may require some help from our experts with the process of applying for your mortgage. We will gladly give independent advice and assistance with your mortgage application from a Cypriot bank.

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How do I buy a property in Cyprus?

Once you have found your ideal property in Cyprus, it is essential that you fully understand the purchase process. Below is a simple guide to buying a property in Cyprus.

• Reservation Deposit Agreement - The first step is the signing of the Reservation Deposit Agreement. This takes the property off the market for a specified period of usually one month.

Within this reservation period, the appointed lawyer will carry out required investigations at the District Land Registry to ensure that the vendor of the property is indeed the owner and ensures that the purchaser obtains good title to the property. In Cyprus the reservation amount is usually at 1% of the property price. The reservation deposit will be “subject to contract" i.e. it is non-refundable, but it is returnable if the searches are not successful.

Searches before Exchange of Contracts:

• Planning Department Search - This ensures a building permit exists and that the developer can legally build and sell to other entities.
• A company search - A detailed company search demonstrates that the developer has the legal capacity to enter into contracts of sale and that it is not been served a liquidation order.
• Signing the Contract of Sale - Once all searches have been successful the next step is the signing of the Contract of Sale by both the vendor and the purchaser. This is similar to the English term, "Exchange of Contracts". Upon signing the contract of sale, the purchaser has a 6 weeks period to pay the first instalment to the vendor. If the purchaser fails to do so, then the contract can become null and void.
• Possession of the Property - Possession of the property will only be completed when it is actually delivered to the purchaser. At this stage the purchaser pays for all the utilities to be connected.
• Transfer of Title Deeds - If the property title deed already exists, then both parties immediately proceed to the transfer of title deeds procedure for the new owners and pay the remaining amount owed. If the property is new, then the title will take up to three years to be issued by the official authority. In this case the remaining amount owed is repaid to the vendor with the delivery of the property. During that time, legal security to the purchaser is provided when a valid contract is signed, stamped and registered with the land registry.
• Property Taxes, Fees and Rates - Real Estate transfer taxes are paid once to the Land Registry and are necessary in order to transfer freehold ownership to the name of the purchaser. The transferee is responsible for the tax payment.

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How do I travel to Cyprus?

Travellers arriving in the Republic of Cyprus (South) may enter the Republic through Larnaca and Paphos International Airports or the ferry ports of Larnaca, Lemesos (Limassol), and Paphos.

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Is a visa required to enter Cyprus?

Entry requirements for UK nationals: British nationals must have a valid passport. For holders of passports endorsed British Citizen or British Overseas Territories Citizen, a visa is not required for a stay of 90 days, provided the visit is for tourist purposes only. In all other cases a visa is required, and passports must be valid at least three months beyond the period of intended stay. However, it is advisable to hold a passport valid for six months beyond period of the intended stay - we advise to check with the appropriate embassy, since these rules are subject to change..

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What is the weather like in Cyprus?

Cyprus for all seasons
One of the benefits of being a Mediterranean island is plentiful sunshine throughout the year, and Cyprus is no exception. In fact, Cyprus epitomizes the ideal weather of the region with sunny days and fine temperatures almost every day. Extremes of temperatures are rare, meaning Cyprus has something to offer every month of the year, whether it's swimming (as late as November) or enjoying cultural sites and festivals (all year long). While seasonal fluctuations are not drastic, however, they are different. Here's what to expect:
Summer when it sizzles
Summer stretches from May to October and means high temperatures, cloudless skies and cooling breezes from the sea. It's the ideal season for swimming, sunbathing and a whole range of water sports from sailing to scuba diving.
At this time of year, explore the archaeological sites early in the morning or in late afternoon, avoiding the hottest part of the day. It's always a good idea to bring along sun protection, such as sunscreen and a broad-brimmed hat. Even in the height of summer when it's 32C (90F) degrees at the beach (and warmer inland), temperatures are refreshingly cooler in the Troodos, making the mountains ideal for hiking or simply relaxing. The days of September and October are still sunny and the water warm enough for comfortable swimming. Basically, it's still summer. In Limassol, the first ten days of September bring the annual Wine Festival, a buoyant period not to be missed.
Autumn Warm and Sunny
Toward the end of October evenings do tend to get cooler, however, in October and through November the leaves change colour in the Troodos and vineyards take on gold and crimson hues against a backdrop of crystal clear sunlight. In Cyprus even mid-November can feel like summer, but by the month's end medium-weight apparel for the late afternoons and evenings will enhance the traveller's experience. It is still possible to enjoy swimming, while inland excursions to villages and vineyards for wine tasting can be very enjoyable. Autumn also brings with it the annual Cypriot festival, with prestigious local and international musical and dramatic performances at venues throughout Cyprus. 
Winter An Active Season
December - February are the months of Mediterranean winter, bringing the possibility of rain, but still an average of six hours of bright sunshine a day. This is the time of year when smaller Mediterranean destinations shut down for the season, but not so Cyprus. The island is a major business centre and has many important heritage sites and museums, all at their least crowded in winter. The cultural calendar is also alive and well throughout the winter, with new events coming all the time. The summer resort of Agia Napa, for example, offers a "Cultural Winter" with classical music concerts and modern and folkloric dance performances. Into early February there is occasional rain, and often snow in the Troodos - ideal for skiing!
Spring Delights
The first orchids bloom in January in Cyprus, and by mid-February the countryside is already alive with fresh green meadows and almond trees in bloom. March days can still be cool (daytime temperatures around 19C or 65F, 9C or 40F at night) but steadily moderate. Early spring is a wonderful time to visit to Cyprus, with pleasant daytime temperatures and many of the ancient ruins framed by a carpet of red anemones and other wildflowers. In April and into the middle of May spring is in full force. This is an ideal time for nature hikes and off-road adventures in the pristine Akamas Peninsula. Cyprus has 1,950 species of flowering plants, 140 of which grow nowhere else but on the island, and in the Akamas alone, there are 700 plant species, of which 40 are endemic. From February to April, pink cyclamen sprouts up from rocky foothills and thickets and forms a riveting adornment to the Baths of Aphrodite. From March to April, the pink wavy-leaved monkey orchid grows in dense patches around Paphos. If in summer Cyprus is the place to bask in the sun, then spring is the time to savour the natural beauty of the island in bloom.

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Souni Stone House Estate agents specialise in Sales and rentals of rural properties & property in and around Limassol, Cyprus. The rural properties that Souni Stone House Estate Agents offer are of exceptional quality and competitively priced.  As a specialist of rural property, the property offered for sale or rent by Souni Stone House Estate Agents are traditionally built and offer a good long term investment or the ideal home!