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Cyprus property boom predicted as low fare war is waged
A property boom in Cyprus is predicted as budget airlines wage a low-cost flight war.
Last week Monarch Airlines, which now offers online check-in, unveiled flights between Luton and Larnaca for as little also £60.99 one way.
Cheap flights have been offered from Thomas Cook and Globespan for some time.
Ryanair is also expected to throw its hat into the ring, with budget flights to Cyprus being announced soon, according to reports.
As the flight prices sink, experts have forecast that Cyprus property prices will rise as buy-to-let opportunities proliferate.
Cyprus property prices have shown a steady increase over the past ten years, averaging about eight per cent per annum.
New golf courses, a new motorway linking Paphos Airport with Polis, multimillion pound marinas at Paphos and Limassol and a £550 million, mixed-use development called "Neopolis" are all adding to the property buzz.
Cyprus, which joined the European Union in 2004, is expected to take on the euro in January 2008.
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