Generous tax concessions and the five-star facilities at luxury golf spa Aphrodite Hills are making retiring to Cyprus an increasingly popular choice for overseas property buyers, report prestige property experts Savills Select Resorts.
Pensions tax is just 5.0 per cent in Cyprus which has one of the most generous tax environments in Europe – an added bonus to go with its 340 days of annual sunshine and warm Mediterranean welcome.
The benevolent financial climate is proving to be an added incentive for those retiring to five-star Aphrodite Hills, the first integrated golf, leisure and real estate development in Cyprus.
Aphrodite Hills is a 234-hectare resort development that boasts one of the world’s top 10 spa complexes – The Retreat – plus a championship standard 18-hole golf course overlooking the place where goddess of love Aphrodite is said to have emerged from the sea.
The resort development is the brainchild of Lanitis Development Ltd (a member of the Lanitis Group of Companies). It was founded in 1990 and has been listed on the Cyprus Stock Exchange since July 2002.
Lanitis has issued the first 435 title deeds of the project. They relate to individual plots, plots with villas and land parcels. The first transfers are expected this month. Lanitis is working with the Land Registry for the smooth transfer of each deed.
Lanitis is also issuing the next 400 title deeds relating to all the junior villas, townhouses and village apartments already constructed. The company is keeping purchasers informed of the progress.
Real Estate Manager Loucas Kitrou said: “The issuance of the first 435 title deeds for Aphrodite Hills is very important for both the company and all our purchasers. It greatly enhances the company’s credibility both in Cyprus and overseas and adds real commercial value to all the properties.
“This is the result of careful design and planning; proper execution and construction of all the elements in accordance with the planning permits; close cooperation with all the relevant authorities and adherence to our contractual obligations.”
For UK residents in particular, retiring to Cyprus is a great way to escape rainy weather but still retain some familiar aspects of life in Britain – English is spoken widely, motorists drive on the left and the island’s legal system is very similar to that of the UK.
The island also has a rich cultural heritage, assimilated over the centuries from the numerous civilisations that have ruled and traded with the island – Greeks, Romans, Byzantines, Franks, Venetians and Ottomans.
Aphrodite Hills is set on two elevated plateaux divided by a stunning natural ravine. Buyers enjoy their own village square and shops plus access to the InterContinental Aphrodite Hills Resort Hotel.
The hotel is a European first for InterContinental with its world-class Tennis Academy, luxury dining and sports facilities that include swimming in the crystal clear sea and hiking and cycling in the Troodos Mountains.
For golfers, the 6,299-metre course at Aphrodite Hills boasts stunning views across the Mediterranean and a signature par-three 7th hole with a testing drive across a 130-metre gorge.
The Retreat spa at Aphrodite Hills has been placed in the world’s top 10 by Condé Nast Traveller thanks to its classic Greco-Roman styling and The Thermae, a series of rooms of increasing temperatures complemented by gardens with splashing fountains and outdoor pavilions.
Savills Select Resorts Director Pauline Bonanni said: “We have been associated with this exclusive resort for at least nine years and during this time have assisted many happy owners in purchasing the property of their dreams.
“The resort fits in exactly with our clients’ requirements as a high end fully integrated and well-managed luxury development,” she added.
Awards for the luxury villas and facilities at Aphrodite Hills include:
* Five Star Mercedes-Benz International Property Award
* Five Star Bentley Property Award
* Gold Homes Overseas Property Award
* Condé Nast Traveller’s ‘Hottest Hotels’ list 2006
* Top 10 Golf Developments in the World (A Place in the Sun magazine)
* Top 10 Spas in the World listed in Condé Nast Traveller magazine
* Europe’s Top 10 Tennis Resorts, rated by Ace Tennis magazine.
Luxury properties for sale include one-, two- and three-bedroom apartments and two-bedroom junior villas in Theseus Village (€401,650 to €1.18 million) and bespoke two- to five-bedroom villas with swimming pools (€1.44 million to €2.98 million). A selection of re-sales within Aphrodite Hills is also offered from €325,000.
Villa owners can choose from 12 different designs – most with three bedrooms – from 130 to 350 square metres of living space. Features include private swimming pools, large balconies, open terraces, gardens and shady pergolas.
Theseus Village offers elegant apartments (around 91 to 143 square metres of living space), each with private terrace or balcony and its own parking space. The village is located next to a tranquil conservation area on the resort’s western plateau.
Aphrodite Hills is 15 minutes’ drive from Paphos International Airport and 75 minutes from Larnaca with regular flights from major European cities and other worldwide destinations.
For more information about retiring to Cyprus and Aphrodite Hills, please contact Natalie Windsor, Savills Select Resorts, 0845 505 6061, www.aphroditehills.com.