News article
Cyprus is a prime European property hotspot
Cyprus, being one of the most popular tourist destinations, in recent years became one of the premier European property hotspots. Popularity of real estate grows for both local and overseas buyers. Properties prices increased dramatically in the last few years but it still has a significant growth potential, according to the leading property specialists.
The island offers a relaxed lifestyle, low crime rates, over 300 days of sunshine a year, great cuisine and its famous hospitality and friendliness. Properties in the island are well constructed and in general represent very good value for money. There are also no problems with communication as 80 % of the population speak English.
Since official adoption of the Euro on the 1st of January 2008 it became even more attractive to the Europeans due to the fact that they don’t have any more worriesr about the fluctuation rates.
Cyprus strong economy favours those interested in buying property, setting business on the island or moving here to live. The country has low taxation, there is no inheritance tax and VAT rate is the lowest in Europe
Posted 15 June 2009