Property Market
Invest in Cyprus
Property investment in Cyprus is becoming increasingly appealing to investors worldwide, with economic conditions now improving at an impressive rate and the adoption of the euro drawing huge interest from foreign investors.
The cypriot market is well placed to be one of Europe's top performers in 2008.
After EU accession, Cyprus is no longer just another tourist destination offering sandy beaches and fun. It’s becoming the home, work place, business destination, retirement place for more than half a billion people coming from all over Europe.
The factors believed to have played the most significant role in the rise were Cyprus' imminent adoption of the Euro and the fact that tourism is growing by around 7% per year.
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The Cyprus property market offers the dual benefits of stability and continued growth and for potential investors, Cyprus' economic statistics are impressive. The country enjoys a high standard of living, low unemployment and low inflation. It's a popular location for both tourists and foreign residents, especially retirees who enjoy a low cost of living and low taxation and no inheritance tax. Banking and legal systems closely resemble those in the UK.
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Cyprus has long been a favourite among Uk tourists and investors and it also has an enviable reputation for attracting "repeat visitors".
Tourism has always played a major part in Cyprus' economic success and a stable tourist market is a major consideration for property investors concerned about the potential for high rental yield and worthwhile capital returns.
The Cyprus Tourism Organisation (CTO) has recently embarked on the Strategic Plan for Tourism 2010 which will improve the tourism sector overall, with upgraded resorts and an increase in high quality facilities, such as marinas and golf course developments.
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