Cyprus is the only Eastern Mediterranean destination that offers a quality of life to which most Britons are accustomed, with its good infrastructure, high-quality hospitals, excellent shopping and where English is widely spoken. On an island that is now our fifth most popular foreign destination, many ex-pats have been attracted by the 300-odd days of sunshine annually and the island’s low flat tax rate for non-Cypriot residents of just five per cent. The low cost of living is an added bonus that reportedly has encouraged 60,000 Britons to buy a second home in Cyprus, where many have bought on newer developments.
In the tourist resort of Paphos, on the island’s west coast, an average two-bedroom apartment costs CY£67,000, a two-bedroom holiday villa CY£130,000, and a three-bedroom house from CY£185,000. In Larnaca, a town becoming increasingly popular with Britons due to keen pricing, a two-bed apartment costs from CY£42,000, and a two-bedroom holiday villa from CY£97,000, an increase on the previous year.
