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Investor interest in Cyprus 'set to grow'

Article Date : Friday, March 09, 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' transparent and regulated property legislation makes the EU state a good place for investors to purchase a property, a news website has said.

With capital value growth expected to soar this year, Cyprus is now an attractive prospect for serious buyers and holidaymakers, according to 7days.

And because is Cyprus hoping to adopt the euro at the start of next year, a rush of investors is expected, especially if interest rates and borrowing costs are low.

"Purchasing in Cyprus is simple, secure and puts you on the European property ladder," the website stated.

"Cyprus is a full member of the European Union (EU) and with that comes peace of mind from long-standing property legislation."

The region of Larnaca, in particular, is likely to attract investors because of its relatively low prices, as well as the creation of an international airport and a new marina for cruise liners.

Cyprus entered the EU in 2004 but historic tensions between Turkish Cypriot and Greek Cypriot communities have still not been resolved.
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