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Cyprus Property Investment News
Investors tipped to head for Cyprus
Many overseas property buyers from the UK are likely to look at Cyprus this year, a newspaper has predicted.
According to the Telegraph, the economic benefits of its euro membership could help to encourage more British investors to purchase a house on the island.
Since Cyprus switched from the pound to euro, it has changed to the eurozone rate of interest of four per cent.
The Telegraph believes that could prove to be particularly attractive to prospective buyers, along with the potential for capital growth.
Commenting on the outlook for its housing market, the newspaper said: "Property values there look set to start increasing as more buyers take advantage of the new rates."
The publication added that this would make it a destination for both lifestyle and investment buyers to consider.
Cyprus joined the single currency on January 1st this year, almost four years after its accession to the European Union.
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