EPISODE 12 of the BBC 2 series ‘Escape to the Continent’ broadcast last evening featured a couple from Cornwall considering a permanent move to the west of Limassol.
The presenter, Nicki Chapman, explained that the average price of a 3-bedroom detached property in the Limassol area was just over £200,000 (October 2013); £50,000 cheaper than the average price of a similar property in the UK. She explained that as the Cyprus housing market was still weak, buyers were in a strong position.
David and Yiola, have retired from their careers in banking and are currently living in Cornwall in a converted farm house. Having visited Cyprus more than fifty times over the past 30 years, both were looking for a completely fresh start and consider Cyprus could be an ideal place for the next phase in their lives.
With a maximum budget of £450,000, David & Yiola were looking for a detached property with at least three bedrooms, a kitchen diner, good storage, outside space for their pets (three dogs and a cat), good views and set in a village location.
Nicki talked about a number of practical considerations worth noting:
“It is strongly recommended to find independent legal advice for any financial transactions undertaken.
“A lawyer should make sure that a property’s Title Deeds are made available as proof of ownership can be an issue on the island.
“A search should be carried out for any pre-existing mortgages on the property or land.
“Various additional costs will include legal, transfer and agent’s fees which are calculated on a sliding scale and can vary between 7% and 16% of the property’s purchase price.
“Finally, as inheritance laws are different to those of the UK, it’s worth considering writing a separate Will for any Cyprus-based assets”.
David and Yiola stayed in a rented house and visited the Apesia Hills Donkey Safari and Tracey’s Cookery School at Akrounta, where Tracey taught Yiola how to make spanakopita (σπανακόπιτα).
Meanwhile, Nicki visited the carob museum in Anogyra, where they make pastelli from carob ‘honey’ – and carob syrup, where she ate with the family and sampled their products.
David and Yiola viewed two properties in Pissouri, a house in Pachna, and finally a ‘mystery house’ – a 200 year old stone village house in the village of Anogyra.
Although they were impressed by all the properties they viewed, none of them offered sufficient outside space for their pets. Yiola said “if we didn’t have the animals the move would be very, very simple… we would have put in an offer on the mystery house.” – and David wanted to visit one of the houses in Pissouri again.
In an ideal world they would like to be living in Cyprus by October 2014.
The BBC programme below runs for 58 minutes.
For further details and photographs about the 200 year old stone ‘mystery house’ in Anogyra and to contact the owners, visit Magnolia Property.