Cyprus has stable tourism market and strong economy proving a favourite for investors

4 February 2007

Anticipating the adoption of the Euro currency in January 2008, investors are continuing to show confidence in the Cyprus property market. Despite the intense growth of the past, the economy is showing stability and with it comes long term sustainability.

Cyprus enjoys a high standard of living, low inflation levels and low unemployment; this makes it a very sound proposition for the overseas investor. With the 100% foreign investment policy that allows for no exchange control restrictions, investors continue to buy here.

Principal International, a leading overseas property investment company are offering 1 bedroom apartments from as little as CY75,000, compared to the somewhat higher prices in the UK, this is a European market still worth investigating. According to the Council of Real Estate Agents in Cyprus, property prices have stabilised and are showing a long term positive trend, Principal International say that investors still believe Cyprus is among the top 5 preferred destinations to invest in Europe.

Tourism here is booming and with the wealth of attractions Cyprus has to offer, rental yield and capital growth remains high. Added to this, the recent announcement of the introduction of low cost flights from London to Cyprus by Monarch Airlines, it’s sure to see tourism numbers keep rising. Just to reaffirm the position, the Cyprus Tourism Organisation has publicly committed to improving the Tourism sector overall to include the building of luxury marinas and golf course developments over the coming seasons. Both major airports are currently being refurbished and extended to accommodate the increasing numbers of tourists and second home owners that come to Cyprus year after year.

It is no wonder that with the 340 days of sunshine per year, the rental market for investors continues to flourish as holidaymakers flock to laze on the stunning beaches and take in the dramatic scenery. For details of the properties that Principal International have available in Cyprus see https://www.principalinternational.co.uk/cyprus