According to Gulf Weekly thousands of expatriates are enjoying the financial benefits afforded to foreign nationals who take up permanent residence in Cyprus. Lower costs of living, favourable tax regime and a warm, sunny climate have all contributed to the island’s success story.
The publication also highlighted that housing costs are playing a powerful role in helping UK nationals to decide where to relocate. The price of a house in Cyprus is much lower than that of a comparable property in a place such as Spain or France and the island is currently benefiting from a prospering economy.
The report concluded that “Cyprus [is] firmly in the top slot for Britons seeking a more attractive destination in retirement”.
The Telegraph also recently highlighted the appeal that Cyprus has for foreign nationals and property investors, citing the recent change from pounds to euros, favourable interest rates and rising house prices.
