I was over the moon when the Cypriot government announced that it planned to introduce the euro as a currency, as I knew it would really help the Cyprus property market in a new dimension. There were also some who doubted the efficiency of such a poorly developed nation, but the current real estate market in Cyprus is simply booming.
The introduction of the euro has led to an average annual rise in real estate prices in Cyprus of nearly 10% and people have literally gone crazy with land investments, which have seen a sharp increase in market value. The current stable interest rate has not stopped Cypriot banks from providing mortgages and this has prevented the slowdown in the Cyprus property market. The island of Cyprus has really opened up to potential real estate investors with improved airport installations with much lower budget flights, helping Cypriot property investors finalize their property investments with added ease.
There is no doubt that such links between the nations of Cyprus and the United Kingdom after the Second World War that the British simply love Cyprus as a year-round holiday destination. Today's Europe has concluded a new treaty of nations that work side by side as equal partners and where better than the mythical island of Cyprus, everyone gathers, relaxes and enjoys all that this beautiful island has to offer. The best part is that you can enjoy the Cypriot show almost 300 days a year, when the sun just never stops shining.
The British have been investing in real estate in Cyprus for several years, leading to investors making huge profits due to the steady rise in property prices. We now see other Northern European tourists looking to Cyprus for excellent real estate investments and who can blame them. Looking further, even real estate investors in the Middle East began to notice Cyprus and all that when Property Investments flooded into major European countries.
The urbanization of Cyprus has been done with strict green space rules, with an incredible amount of detail paid to the environment. That is why I love Cyprus with passion and I would totally recommend changing the place, as you will see in my Cyprus Informer blog, which you will find linked below.