Cyprus enjoying strong potential
holidaylettings.co.uk, 20 July 2007
The island of Cyprus is enjoying strong economic fortune at the moment – welcome news for investors in the country's property market.
It has been confirmed that Cyprus will be granted entry to the euro currency system from the start of next year and will help drive forward further investment as well as continuing to boost tourism levels on the island.
Currency specialists HiFX, believe that adoption of the euro will add to the appeal of Cyprus alongside the region's favourable climate and stunning landscape.
Mark Bodega, marketing director of HiFX, said: "We predict the property market on both islands to continue to grow due thanks to a number of reasons. British purchasers like the legal system in Cyprus as it is easy to understand-being based on the English one."
He added: "The Cypriot government also believes in looking after the environment - properties cannot exceed a certain height, density is monitored and green areas are planted within developments."
Statistics also show that there has been a 100 per cent rise in the number of British people making enquires about investing in Cypriot property over the past 12 months as the island continues to offer value-for-money.