Innovative property investments
Cyprus Property Investment News
Cypriot property market destined for growth
Property in Cyprus will maintain its recent growth, according to currency exchange specialists.
Moneycorp has chosen to open a new office in Cyprus, so as to capitalise on the improving market while helping the expanding expat communities.
With the economy stirred by growing consumer spending, house prices have risen steadily and the market has been boosted by the development of the country's golf tourism sector.
Vasilios Dimarakis, head of overseas operations at the firm, told the Financial Mirror that Cyprus offered excellent opportunities for British investors:
"The property market in Cyprus has been something of a phenomenon in recent years.
"The market is now showing stable but healthy growth with the promise of more good things to come as the country prepares to adopt the euro currency on January 1st 2008," he added.
Increased development and tourism have stimulated Cypriot growth, with house prices rising by 8.5 per cent in 2006 and credit card spending increasing by six per cent for tourists and 17 per cent for residents.
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