Investments in apartments in Cyprus: will the euro boost prices?
My reaction was great news when I heard that the Cypriot government decided to incorporate the Euro as its trading currency, especially what it would mean for the Cyprus real estate market. Interestingly, although not everyone was so open to the new currency, the Cyprus real estate market has already benefited significantly since its introduction.
House prices have been rising steadily at around 9% a year since the currency changeover and investments in land have quadrupled since the euro news. Low interest rates have also given Cyprus a head start in attracting property investors and although things have bottomed out in the UK, Cyprus remains a growth market. Improvements in international airports and more budget airlines have also made it easier to travel to Cyprus to conclude real estate investments in Cyprus.
The year-round holiday resort of Cyprus is a real favorite with the British and there is a link between the two towns due to a heavy attack during the Second World War. Of course we are all Europeans now and equal partners who are ready to conquer the world together and where better to relax than the beautiful island of Cyprus which boasts over 300 sunny days a year which makes it that much more enjoyable to enjoy of the wonderful places. that Cyprus has to offer.
Although it was the British who first set foot on the Cyprus real estate ladder and who have seen some really profitable real estate investments, now it is the turn of others, mainly from Northern Europe, to enter the Cyprus real estate market. Cyprus has even started to attract some very wealthy tourists from the Middle East, as there is currently no better place to invest in property in Cyprus.
The good thing about the development of Cyprus in these times is that the environment is always respected. There is also a very strict code of conduct within the Urbanization planning regulations and green areas are at the top of their list of priorities. I believe in Cyprus for this very reason, as it will always be successful now, as you can see in other articles on the Cyprus Informer Blog.