Paralimni

Imagine a town, not too big and not too small, where modern shops and offices rub shoulders with traditional coffee shops and old stores, main thoroughfares with traffic lights are crossed by narrow streets towered over by old, venetian-style houses. Watch the old women wearing traditional black clothes working, gossiping or simply resting in the sun while the men sit outside the local coffee shops playing tavli (backgammon). Admire the style of the younger generation as they go by in the latest fashions.

Take all this and add beautifully constructed modern churches overlooking the crumbling architecture of the older places of worship, standing proudly beside their mellowed stone and fading mosaics. While you savour this rich mixture of ancient and modern, enjoy your coffee in a modern café while listening to the afternoon church service and the harmony of the church bells as they ring out across the old square. If you have all this, then you have Paralimni.

Paralimni has grown in recent years from a rural community into a progressive town, which now boasts an array of shops, boutiques, offices and restaurants. Although popularity and demand have caused expansion in the size of the town, it has managed to retain its rich cultural traditions and the main square still features cafes and churches, which reflect the characteristics of the old village. A Place where the old and the new seem to work in harmony, it's a town where you can enjoy the advantages of a traditional village and the conveniences of a contemporary town.

Paralimni is also ideally situated just a short drive from the cosmopolitan resorts of Kapparis, Protaras and Ayia Napa, which are home to some of the best beaches in Cyprus and as holiday destinations, appeals to all ages.
Paralimni is the largest town on the south-eastern coast and you can find just about anything here, including your perfect Cyprus apartment or luxury Cyprus villa.

Why invest in Cyprus?

A number of economic and natural factors combine to make Cyprus the ideal property investment location it is today.

Natural and cultural factors

• An average 340 days of sunshine a year make Cyprus an agreeable place to visit or live and holiday in

• Outdoor activities are abundant, including trekking, golf, sailing and diving, ideal for nature lovers and water sports enthusiasts

• Beautiful golden sandy beaches and ancient monuments, eg. castles, walled cities, abbeys, Roman ruins, make Cyprus a great holiday location with varied appeal

• Cyprus offers an interesting mix of cultures, with strong UK, Greek, Middle Eastern and Turkish influences. In addition, most of the local people speak English are welcoming and hospitable towards visitors.

• Proximity to the European mainland means that Cyprus benefits from regular budget direct flights, making access to the island very easy.

Economic factors

• Competitive prices and a low cost of living compared with other Mediterranean destinations make for an ideal investment climate

• Typical growth rates of 20% per annum in carefully selected locations

• EU inclusion since May 2004 means EU financial assistance and several other economic benefits

• The Strategic Plan for Tourism 2010 is upgrading facilities and resorts in line with 21st century tourism trends. This is set to boost an already thriving tourism industry on the island

• A successful and growing economy indicates strong potential for property investment growth in the future

• A low tax regime makes investors’ money go even further, while pension income is taxed at only 5%

EU membership and the adoption of the Euro is spurring Cyprus still onwards. The International Monetary Fund and the European Commission endorse the Cyprus economy as a stable one in which to invest, and property prices in prime locations of the south east have risen by as much as 20% per annum over recent years. However, today in some areas of Cyprus there is now an oversupply of property, making it all the more imperative to carefully select your investment location prior to purchase.

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