The process of buying a holiday home in the Republic of Cyprus (Southern Cyprus) is straightforward and foreign investment in property is in fact encouraged through certain tax breaks (e.g. double taxation treaties with many countries including EU member states and the USA). Non-Cypriots must make a written appliaction to the Council of Ministers to buy property. Cypriot law currently prohibits foreigners without a residence permit from renting out property. In practice, this law is difficult to enforce and is often ignored. If you are set on a sea view from your holiday home in Cyprus, this will push up the price you must expect to pay as demand is high. However, in time you are likely to see benefit as seafront property is rising in value by 15-20% each year.
More caution is necessary if you are interested in purchasing in the north of Cyprus, currently occupied by Turkey. This occupation is considered illegal and is not recognised internationally. In order to avoid any risk of not having valid title of property in north Cyprus, it is far safer to only buy property that belonged to a non-Greek Cypriot prior to occupation in 1974. The political situation means there is little tourism in the Turkish speaking north of the island but this makes it an interesting proposition for those interested in a quieter holiday. There are some superb villas in the Kyrenia region.
Classically Mediterranean with plentiful sunshine all year round, Cyprus enjoys a high standard of living and a low crime rate. There are fantastic beaches and beautiful mountains. Cyprus is also rich in history and culture. English is widely spoken in the Greek part of the island (south) and most shop and road signs are in English as well as Greek.
Gardeners should be prepared for the fact that Cyprus is extremely dry in the summer. Will you be around enough to care for your plants? Would you pay someone to water the garden in your absence? Or when planning your garden you may need to consider choosing species that will thrive in dry conditions.
The Republic of Cyprus joined the EU in May 2004.
Property prices in Larnaca are significantly lower than elsewhere in Cyprus and with the island's largest airport it is very easy to get to.
Lania is a picturesque village situated halfway between Limassol and Troodos Mountains. Its climate is very mild and pleasant both in summer and winter. Lania has plenty of small private wineries producing excellent homemade wine. Lania is very well known for its artists who live and work in the village.