Investment potential of Cyprus highlighted

Wednesday March 26th , 2008

Prospective investors in the Cypriot market have been informed of the Mediterranean island's various attractions.

The country was praised by Home Move for offering a strong and growing economy, which has led to capital growth in its housing market.

According to the online portal, house prices went up by an "impressive" amount last year and values are set to keep growing.

Therefore, investors who buy a property could find their assets are worth considerably more in the near future.

Home Move added that Cyprus's entry into the European Union four years ago has been one of the main reasons for this expansion.

The website commented: "Accession to full membership has helped to spur things on."

Cyprus's entry into the euro has also been highlighted as a development that could attract foreign property investors to the island.

UK newspaper the Telegraph recently said it offered "good growth potential" to overseas buyers because of the changeover.