Buying property in Cyprus means different things to different people. For some it may be somewhere to escape to for a few weeks each year, for others it could be a permanent move on retiring, or for many, especially since entering Europe, the purchasing of property might probably be for investment purposes

Demand for property in Cyprus is continually increasing with approximately 60 percent of property purchases on the Island being from UK citizens.

This is mainly attributed to the all year round glorious climate, the exceptionally low crime rate, the high quality of lifestyle, low tax rate of just five percent, the excellent infrastructure, first rate medical facilities and not forgetting the genuine hospitality of the Cypriots

Cyprus has been a full member of the European Community now for nearly two years and is well on track to adopting the Euro in 2008. The last few years has seen the Cyprus economy getting stronger and stronger. The real estate market is very buoyant and the market trends indicate a strong capital appreciation as property value grows at an estimated rate of 15 - 20 percent per annum. Coupled with a rental yield of approximately 8 percent it is no wonder that Cyprus is recommended as one of the top four countries where investors should consider investing in. Although there are many emerging markets to tempt the investor, Cyprus has performed well over the years offering investors peace of mind unlike the Eastern European countries where there maybe capital appreciation but as untested countries, the risk is significantly higher.

Holiday homes prices in Cyprus are on average 20 percent lower than in Portugal, 30 percent lower than Spain and 50 percent lower than in France, making the purchase of a second home, abroad, an affordable option for many.

With daily flights from the majority of UK airports to either of Cyprus’s two International Airports at Larnaca and Paphos and the increasing number of low cost flights access is easy and affordable. New airports are being planned near the sites of the existing airports.

At present an EU citizen can purchase a property without limitation if the property is to be their permanent residence. However, if an EU citizen wishes to purchase a second property, the procedure of submitting an application to the Council of Ministers for a permit to do so must be adhered to. Nevertheless, Cyprus has until 2009 to lift this restriction. It is anticipated that EU citizens will be allowed to own an unlimited number of properties.

Kouroushi Group is a well established, reputable Construction & Development Company based in Paphos, Cyprus. Kouroushis is recognised by Cypriots and non-Cypriots as being among the top developers of commercial and residential properties on the island, providing the ultimate choice of property and location. The company is well known for its commitment to providing the best value for money with exclusive designs, built to exacting specifications with the utmost care and attention to detail. Kouroushis is a family company who cares.

The company was founded in December 1989 by brothers Kypros & Chrisostomos, both Civil Engineers. Permanent and holiday residences have been built for the local and foreign market. At present we have 20 residential projects under construction in the Paphos area. The company is now building several residential developments in Limassol and Nicosia in line with the current housing demands following accession into Europe.

We believe we can exceed the clients needs:

- we have a wide and varied selection of locations & types of properties.

- our property is built to the highest European standards.

- we give our utmost attention to detail.

- we understand the needs of the clients.

- we provide a comprehensive, stress free individual client service.

- we are a longstanding, reputable company.

- we have a long term construction & development business plan.

To serve the UK clients, whether purchasing a holiday home, permanent residence or for investment reasons, the company has established a professionally trained, experienced and dedicated Sales/After Sales Team. Client satisfaction is the highest priority. Every client is offered an individual, personal service from the minute they meet with the company until well after they have moved into their property. Assistance is offered every step of the way including financial advice, legal services, interior design, property management and an after sales service which is second to none. We recognise and appreciate the concerns clients have, about purchasing property in a foreign country. Our aim is to ensure that buying property is a stress free pleasurable experience.

Email: info@kouroushigroup.com

Website: www.kouroushigroup.com

Jan Cassidy, Property Consultant

00357 99519088/26950455