Cyprus 'is the cheapest place to retire abroad'

Monday December 15th , 2008

Cyprus is the cheapest place to retire to the sun, a travel website has claimed.

According to shelteroffshore.com, the Mediterranean island charges a maximum of just five per cent income tax on pensions, meaning the falling pound will not affect retirees as much as in other European countries, along with property prices even lower than 12 months ago.

Cyprus has a strong expat community due to its high quality of living and English is spoken widely.

The island is also perfect for those who dream of relaxing in warm weather, as it enjoys up to 300 sunny days every year and those retiring to the country will not have to worry about the high cost of heating bills.

Meanwhile, a survey from Bupa International has shown that expats believe the best things about their new countries are the warm weather, local food and improved way of life.

However, six out of ten people admitted missing their family and friends and those from the UK said they longed for their local pub back home.
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