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Polis, The New Property Investment Hotspot in Europe -
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Initially, it seems a bold assertion that Polis in Cyprus could be the new investment hot spot in Europe, however, when you consider what is happening in the region, the best tax privileges in Europe, the strictest planning laws in Cyprus (to retain the exclusivity of the area) and other factors. Shrewd investors should be seriously considering buying property here.
Cyprus has been designated an offshore tax haven click here not only relating to personal taxes and low taxes on pensions (5%) but these great tax concessions extend equally to property investment or construction. At present as a property investor here, you will pay 6.25% tax on gross profit from your first three property sales and after this you may pursue other ways to pay the least amount of tax. On top of this legal purchase fees on property purchased, run at around 0.5 to 1% of the total property price. Bank interest rates are also very low compared with the UK. As a retiree, buying property here in Cyprus is great as the current inheritance tax rate is 0%
So taxes no problem, what about residency? A person of any nationality may purchase, a single small investment property here, with EU buyers and Russians having no restrictions on the amount of properties they may buy.
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What makes the Polis area special?
According to Cypriots, this is the most scenic and exclusive area in Cyprus. Developments here, are limited in size to control building density. Also the Akamas Peninsula, consists of some of the most beautiful and quiet residential locations in the whole of Cyprus. Right next to this region is the Akamas national forest which provides scenic walks and nature trails as well as the best horse riding area in the country. The general area still retains its traditional Greek island feel. Much of the region is a designated UNESCO zone again another reason for the strict planning laws. The journey time here, has also just been cut down to half an hour from Paphos Airport, thanks to a new motorway link. Crime particularly in this region is the among lowest in the entire world as an additional bonus.
The reason, for all of the excitement!
With the addition of the twin signature Gary Player, Jack Nicklaus PGA standard golf courses in Limni Polis. Now is the reason to invest. Specifically designed to provide some of the finest vistas in the whole of the Mediterranean, these magnificent courses will be the best offerings in the Mediterranean for many years to come. This is the only joint project in the whole of Europe by these golfing legends and course designers. Gary Player has stated that "these golf courses will be a showcase for the games green movement." They will be the largest golf courses in Cyprus to date at well over 290 million square metres. Having seen the site and the provisional plans my instinct tells me that this can now, reasonably be expected to become one of the most desirable areas to live, in the whole of the Mediterranean. As you will see from the below image, both magnificent courses slope down towards the sea ending right on the beach, guaranteed to provide the most spectacular views from all directions. There has been much debate as to whether the courses will actually go ahead. "SPEAKING with In Business News on the 12 of March this year Cyprus Interior Minister Neoclis Sylikiotis was quoted as saying that licenses for three more golf courses on the Island are close to being authourised by the Town Planning Department to include those at Limni:
The developer behind the project has also been quoted as saying that the finance for the project is also in place and ready to go, The course preparation has also been underway for the last 2 years costing many
millions and involving one of the largest groundwork movements in European history. The Developer has
also promised to build some of the finest golf villas in the Mediterranean on the eagerly awaited courses.
The simple fact is, that with strictly limited property development in this region, buying the best of the
small selection of property here will provide a very shrewd investment, as the entire region is already poised to benefit from these truly remarkable golf courses. The layout of both courses is simply astonishing. and in due course, property in this area will be incredibly in demand. This is the kind of project that turns a good area in to one of the most desirable locations in the Mediterranean. Previous examples are La Manga and Marbella in Spain with their great courses as well as the Algarve. Property on the courses is not due for completion until at least a year and a half after the completion of the courses.
Remember that this region has the strictest planning laws in Cyprus, so there will never be huge development here, much of the existing property here, presents buyers with some of the finest investment prospects in Europe, starting from 110 - 000 Euros.
To find out more about the best investment options in this area please contact David on > 07517 315955 in the UK and > 00 44 7517 315955 from outside the UK. E-mail > email@example.com
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