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investment

The high quality of life, together with the low cost of living in Cyprus has made the Island one of the most popular destinations for European property buyers. The residential market in Cyprus has experienced a steep rise in value and demand since Cyprus became a full member of the EU on 1 May 2004. The demand was mainly from foreigners for building plots, villas and apartments on beachside projects and the renowned new and intended Golf courses The demand has been so great that prices in some areas doubled within a year. The current trend seems to be a steady increase in prices between 15% -25% per annum. The average over the last five years being 20% per annum, this combined with gross rental yields of 7% - 8% makes Southern Cyprus one of Europe's biggest hotspots.

The market has been primarily dominated by British, Scandinavian and Eastern Europeans, either as expats or looking to invest in a holiday home which may also be used as a holiday let. With the current state of the UK economy many people are looking to invest with a long term view of supplementing pensions. As English is spoken widely as the second language, Cyprus' appeal has become International and is no longer restricted to the U.K. Demand is growing, including from Russians, former Soviet States and Greek Cypriots returning home from all corners of the globe.

The Cyprus economy on the other hand is very stable and therefore Cyprus offers a very low risk investment opportunity with healthy returns, economists forecast it to expand by 3.8% in 2007.

The currency of Cyprus is the Cyprus Pound, which at the time of writing is worth about 1.21 Sterling. Also known as the Republic of Cyprus, the Island joined the European Union on the 1st of May 2004. The Government is the internationally recognized authority on the island although in practice its control extends only to the Greek Cypriot southern part. The intention is to join the Euro in 2008. There is serious discussion amongst Cyprus financial institutions with regard to a devaluation of the Cyprus Pound prior to joining. This would give an instant boost in Sterling value if the property is funded in Cyprus Pounds.

All things considered, Cyprus, the Island of Aphrodite has many attractions to offer the prospective property investor.

Property Investment in Cyprus

Spidi have carefully selected a number of exceptional property investment options, many of which are VAT exempt, since he building permits were applied for prior to May 1st 2004. Spidi ensure that all recommended Investment projects have contracts which are fully assignable with no fees attached. This represents a cost saving of up to 5%, should you wish to re-sell prior to completion.

Finance is readily available from 20% initial contribution with low interest rates and flexible re-payment and Buy to Let Options.

  • To Register please click HERE
  • For Spidi Investor Visits please click HERE
Spidi's Investments in Cyprus
 
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