Simply Overseas International Property Agents

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Cyprus has certainly hit the headlines in the last few days and on first sight not for the best of reasons, but read on!

You may well have heard of the plight of the Orams couple from Hove, Sussex who after years of costly legal battles have had their UK Court of Appeal case rejected following the earlier European court of Justice ruling.

In short, the Appeals Court have ordered the Orams to demolish the home they built on land in Lapithos, return the property to its rightful owner and pay back rent (£300 for every month since 2002 plus interest) and legal costs, estimated at around £1.35 million sterling.

The property in question is in northern Cyprus known as the Turkish Republic of Northern Cyprus which is not recognised by any state in the world other than Turkey following the invasion of 1974.

Frankly, this outcome is why Christopher Morris, head of Simply Overseas has been warning people of the risks of buying in the North and why this firm has followed the advice of professional bodies, government departments etc and steered well clear of marketing property in the occupied part of this wonderful island.

We have however, sold properties for many years in the Republic of Cyprus, otherwise known as the south, where there is a fully recognised land registration that has been around since the times of Lord Kitchener in the 19th century!

Indeed, we are proud to say that we have very many friends, both Greek Cypriot and our own ex-pats alike in Cyprus and in fact have property there ourselves; proof if ever it was needed of our confidence in this wonderful part of the Mediterranean.

Let’s take a look at what Cyprus has to offer

Sunshine Survivor!

Property markets around the world have suffered but one country has held up well: Cyprus, in the eastern Mediterranean.

Cyprus has a lot going for it: there is the Mediterranean climate, the fact that English is widely spoken and possibly the lowest crime rate in Europe. Income tax is low, there are nominal council rates, no inheritance tax and the country is stable in every sense.

It is modest in size; perhaps less than the size of Wales, so you can never be far from a sea view – and the seas, by the way, are crystal clear.

It is a deeply religious, yet very tolerant country. While mainly Greek Orthodox, constitutionally, it allows all religions. Villages and towns each have at least two churches.

It is also safe in a way that Britain has not been for years: children still play in the streets. The Cypriots are known for their friendly, welcoming attitudes, and enjoy making British people feel at home there.

Brits also feel at home in Cyprus because; as well as English being universally spoken, documentation (including legal conveyancing contracts) is in English, some television is broadcast in English and there are English newspapers too.

But perhaps most interesting is what is not in the slightest bit English about Cyprus: the banks.

Unlike in the UK, the Cypriot banks did not have significant liquidity problem. They still have money to lend and 70% loan to value does not frighten them. They are not put off by foreign purchasers and will also lend up to the age of 65.

Of course, it isn’t quite all wall-to-wall sunshine. Cyprus has been affected by the same property recession as elsewhere. Property prices on the island may have fallen a little; but only a modest few percentage points from the peak.

Britons are still buying there but in smaller numbers than two or three years ago, largely because of economic conditions in the UK. However, Cyprus has very largely bucked the global downwards trend and looks set to continue to do so.

However, it is easy and economic to get to Cyprus, this winter, Monarch were doing deals at around £40 including airport taxes.

The island’s second language is English so it means fairly good employment opportunities for those moving permanently to the island especially when compared to some other countries.

Because English is spoken (along with Greek), it has made for fewer ex-pat enclaves than can often be the norm elsewhere too.

Of course, at Simply Overseas, we offer a wide range of new and completed properties from Apartments and Town Houses to Villas and individual plots on which to build your own dream home. In all sorts of lovely locations from Pafos in the west to Larnaca and the Famagusta district in the south-east corner. Coastal and inland; just tell us what you want and we’ll probably have it at a most attractive price to appeal to most budgets.

If you would like to know more about property in Cyprus or indeed any other location, please contact us and we will be pleased to assist without pressure or obligation.

Or why not come to our “Open Day” on Sunday 28 February at Shrewsbury Town FC Stadium, Oteley Road, Shrewsbury. For more information click here. We have a variety of special offers available too!

For more information about any aspect of our service or overseas property in general, please contact us by telephone or e-mail.

Telephone (01743) 343634

E-mail: sales@simplyoverseas.com

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Simply Overseas, 7 Swiss Farm Road, Shrewsbury, Shropshire, SY3 8XB, Telephone 01743, 343634 or e-mail sales@simplyoverseas.com

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