Cyprus Property Investment Economics

Cyprus’ EU membership 1 May 2004 had a resultant macro economic boost and provided an excellent opportunity for superior returns in the property market and here’s why:

Cyprus economy continues to grow strongly and is forecast to expand by 4% in 2008.

Cyprus Property Market

"Over the last three years demand for property has increased by an average of 15% to 20% per annum. This will increase with EU membership as people from the landlocked central European countries, which are also destined to become member states, are expected to look for second homes on the island" (source: FT World Report)
A falling interest rate environment. Now that Cyprus has fully adopted the Euro (1st January 2008) the interest rates have fallen in-line with the European Central Bank (ECB) rate of 4%.
The law restricting foreign ownership of property to just one per person, is to be lifted post 1 May 04 after a transitional period with the resultant boost to demand from large investors overseas.
The island has a world demand for property, including from a growing and affluent Russia and former Soviet states. There is also a large investor demand from Greek Cypriots living in the UK and US.
Highly educated, English speaking and low cost workforce will attract flows of capital from within the EU and other markets.
60,000 British ex-pats provide an attractive community for UK retirees and a dynamic demand for quality property in quality areas.
The weather, tourism and British nature of the island appeal to many affluent buyers. As English is spoken widely and is the second language, the appeal is international and not just confined to the UK.

Cyprus investor open days

Present and future economic events drive property markets. InvestinCyprus.com investor open days explain how key economic events will shape the Cyprus property market and as such guide you to the location and type of property in which you should invest. For details and to book an appointment at an open day click here