Cyprus 'the star performer'

Cyprus has been described as a lone beacon of economic growth in the eurozone.

The country looks on course to be the sole member among the 16 countries in the bloc to record positive economic growth in 2009, RTE reports.

Such a view was noted by the news provider after the country's state statistical service revealed that annual growth to the end of the first quarter of 2009 was 1.2 per cent, albeit less than the previously predicted 1.4 per cent.

Although the economy slowed in the first quarter of the year, the report said: "Satisfactory growth rates of both construction and the wider services sector limited the extent of this deceleration."

Those investing in property may wish to buy in Cyprus because of its stronger economic situation.

Last month the Cypriot finance minister Charilaos Stavrakis said the country's prospects economically were better than those of its neighbours, noting that the economy was still growing and the government had not needed to bail out Cypriot banks.