Cyprus property tops the league table
Cyprus will be one of the attractive destinations to invest in property during 2008 as Cypriot property continues to perform well, with a recent report showing that the growth of the housing market over the last 12 months as “phenomenal”.
This indicates that foreign property investors who enter the market early could purchase a home for a relatively low price, as values will considerably increase further down the line. In addition, property owners could potentially make a substantial profit should they choose to sell up in the future.
Global Property Guide has reported that Cyprus is one of 13 countries to have seen the cost of property increase last year with the rise of 13.26 per cent. Slovakia, Hong Kong, Bulgaria and Taiwan are few other countries which experienced price increase greater than that seen in Cyprus. The report suggests that the potential for growth is staggering and property experts have indicated that investors would be wise to make the most of it.
The Royal Institute of Chartered Surveyors (Rics) official figures revealed that property values in Cyprus went up by 15 per cent last year. Cyprus also offers attractive and reasonably priced properties in highly sought-after areas.
The Independent also stated that the Cyprus property market is performing well in the face of global economic problems, as house prices went up by one-fifth during 2007.
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