Cyprus Property Investment For Sale | Guides, Economy and Cyprus Hotspots
"A sunshine state that is a popular retirement desination."
The Republic of Cyprus is a land of beaches, mountains, castles and villages with a rich cultural heritage with influences from Ancient Greece, the Persians, Egyptians and Ottomans. With 340 days of sunshine a year, an excellent infrastructure and a very low crime rate Cyprus has become a popular second home, retirement and holiday destination.
Although many of the coastal holiday resorts are seen as party destinations for the young and reckless, travel inland and one discovers medieval stone villages that have remained untouched for centuries. This sunny island is also known as the mythical birthplace of Aphrodite, the goddess of love and beauty and many of its Byzantine churches and historic towns have been declared UNESCO World Heritage Sites
With four-fifths of GDP derived from the service sector, Cyprus has become reliant on financial services, tourism and real estate – all of which have been severely affected by the international financial and euro-zone crisis. Cyprus has particularly suffered from the exposure to the Greek fiscal debts as Cyprus banks where the largest holders of Greek bonds.
Even with a depressed property market many still choose to come to retire or holiday in the sun here. Good second home destinations include Paphos, Limassol, Larnaca and the capital, Nicosia.