He was over the moon when the Cypriot government announced its plans to introduce the euro as a currency, as it knew that it would really help the Cyprus property market to a new dimension. There were those who doubted its effectiveness in such an underdeveloped nation, but the current real estate market in Cyprus is booming.
The introduction of the euro has caused an average annual increase in property prices in Cyprus of almost 10% and people have literally gone crazy with investments in land that have seen sharp increases in market value. The current stable interest rate has not prevented Cypriot banks from granting mortgages and this has prevented a slowdown in the Cyprus property market. The island of Cyprus has really opened up to potential property investors with improved airport facilities with many more low budget flights helping Cyprus property investors finalize their property investments more easily.
There is no doubt that the ties so close between the nations of Cyprus and the UK after WWII that the British simply love Cyprus as a year-round holiday destination. Today’s Europe has come to a new treaty of nations working side by side as equal partners and where better than the mythical island of Cyprus to come together, relax and enjoy all that this beautiful island has to offer. The best part is that you can enjoy spectacular Cyprus for almost 300 days a year when the sun never stops shining.
The British have been investing in property in Cyprus for several years, leading investors to make huge profits due to the constant rise in property prices. Now we are seeing other tourists from Northern Europe looking in Cyprus for excellent real estate investments and who can blame them. Looking further afield, even Middle Eastern real estate investors are starting to notice Cyprus and all of this as real estate investments have plunged into the largest European nations.
The urbanization of Cyprus has been carried out with strict rules on green spaces with an incredible amount of details paid to the environment. This is the reason why I love Cyprus with a passion and would fully recommend the change of venue, as you will see on my blog on Cyprus Informer, which you will find at the link below.