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Cyprus' euro move 'to boost property interest'

Article Date : Wednesday, August 01, 2007       Bookmark on Facebook   Bookmark on Del   Bookmark on Digg   Bookmark on Facebook   Bookmark on Reddit   Bookmark on Spurl   Bookmark on Furl   Bookmark on Yahoo   Bookmark on Magnolia   Bookmark on StumbleUpon   Bookmark on BlinkList

Cyprus' decision to enter the euro next year will prove to be a fillip for property investment prospects, it has been claimed.

Foreign currency specialist HiFX has made the prediction after it was confirmed that the island will begin using the euro from January 1st 2008, reports Fly2let.

The company has also reported that the number of British nationals looking to buy properties in the country has doubled in recent times.

And Mark Bodega, marketing director at HiFX, has said that the market will be further boosted by the familiarity of its legal infrastructure.

"British purchasers like the legal system as it is easy to understand - being based on the English one," he said.

However, investors in Cyprus will need to decide which part of the island to buy property in.

Northern Cyprus has strong links with Turkey while the south of the island is more closely associated with Greece.
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