Buyers Guide Introduction;
Welcome to the Cyprus Buyers Guide which has been put together by Cyprus Property Dreams in order to offer help and support for anyone looking to buy property in Cyprus.
Cyprus Property Dreams was founded over ten years ago by Andrew and Julie following on from their personal experiences of buying property in Cyprus.
More about Cyprus
Cyprus entered the Euro currency in 2007 which brought interest rates in line with Europe providing mortgages at fantastic rates.
Being a full member of the E U Cyprus is considered to be a property hotspot with good investment potential.
Independence from the UK was approved in 1960, with constitutional guarantees by the Greek Cypriot majority to the Turkish Cypriot minority.
In 1974, a Greek-sponsored attempt to seize the government was met by military intervention from Turkey, which soon controlled almost 40% of the island.
In 1983, the Turkish-held area declared itself the “Turkish Republic of Northern Cyprus,” but it is recognized only by Turkey. The latest two-year round of UN-brokered direct talks – between the leaders of the Greek Cypriot and Turkish Cypriot communities to reach an agreement to reunite the divided island – ended when the Greek Cypriots rejected the UN unity plan in an April 2004 referendum.
Although only the internationally recognized Greek Cypriot-controlled “Republic of Cyprus” joined the EU on 1 May 2004, every Cypriot carrying a Cyprus passport will have the status of a European citizen.
However, Nicosia continues to oppose EU efforts to establish direct trade and economic links to northern Cyprus as a way of rewarding the Turkish Cypriot community for voting in favor of the UN unity plan.