Cyprus' location is key investment consideration, says expert

Monday February 25th , 2008

The advantages of buying property in Cyprus has been recently demonstrated to those living in Qatar, highlighting the importance of the area for potential investment.

Property developer ONI has showcased available homes in an exhibition opened by the ambassador of the Republic of Cyprus in Qatar Panicos Kyriacou, reported the Gulf Times.

Mr Kyriacou explained that the Cypriot admission into the European Union in 2004 had a major impact on the island, which is a service-based economy.

Manager of ONI Andreas Onisforou also spoke to the publication about the benefits of investing in property in Cyprus.

"For people to move to Cyprus either as a permanent residence or holiday home, there are many financial incentives that make owning property even more attractive and not just the location and the pleasant weather," said Mr Onisforou.

Weather in Cyprus is based upon hot summers and mild winters, with temperatures rising to an average of 29 degrees C in July and August, according to the Cyprus Tourism Organisation.