Cyprus - A Property Rental Hot Spot in 2007

According to latest statistics from a leading holiday owner specialist company, an astonishing 6.3% annual return on rental investments has been achieved in Cyprus, with property attracting rentals for an average 18 weeks per year. This financial return makes Cyprus a leading rental investment hotspot for 2007.

The British are among the favourite overseas investors in Cyprus, due in part to the fact that they feel comfortable investing in a country where English is so widely spoken, removing barriers and rendering simple the legal aspects of property purchase on the island.  This, coupled with the 340 days a year of sun, beautiful golden beaches and a low cost of living, makes Cyprus a rental investment property dream where tourists continue to arrive in their droves, many returning year after year.

Its much anticipated membership to the Euro in 2008 gives Cyprus extra appeal to overseas property investors, while an expected fall in interest rates will provide a safe investment climate and create further competition with traditional pension funds.

Cyprus property prices have risen by some 30-40% in the last 3 years, making Cyprus a wise investment, particularly in view of the amount of ongoing tourist development in the area, which includes golf clubs, marinas and commercial centres -  all features of the luxury and cosmopolitan facilities to be found in Cyprus to satisfy today’s tourist demands.