Growing Cyprus Receives All Round Praise

Cheaper property prices, a strongly growing property market and increasing number of tourists are all attributes of the Cypriot property scene and this makes it an ideal location for overseas property investors, a report by Homes Overseas says of the Mediterranean nation.

Jet-to-Let magazine recently praised Cyprus for being a market that is popular among investors and yet has managed to remain aloof to the global financial turmoil. Following on this praise, Homes Overseas described the island as an 'elite' location that offers strong investment potential.

With average property prices around the £150,000 mark, Cyprus is a bargain market compared to Britain. Moreover, it has seen none of the credit crunch currently hitting Britain. On the contrary, the Cyprus property market has been defined as a growing one, with prices expected to jump by as much as 20 percent annually.

According to Homes Overseas, investors who buy properties now, will see values appreciate very quickly and could make a health profit if they decide to sell it off later. 'The Cypriot property market has performed robustly since the country became a member of the EU and NATO in 2004,' the portal commented.

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Date: 8/29/2008