Low interest rates benefits overseas investors
Cyprus adopted euro On January 1st 2008 and joined the rest of Euroland almost 4 years after its accession to the European Union. Telegraph has reported that Cyprus interest rate of just 4% has triggered the number property investors looking to capitalize on the low interest rate.
Cyprus has lifted most capital restrictions and lowered interest rates on foreign investors, thereby granting them more benefits.
Cyprus has lot to offer any investor, with the onset of the euro and low interest, Property investment is showing good returns.
EU monetary affairs commissioner Joaquin Almunia welcomed the rousing reception of euro in the island and added that Cyprus has become even more integrated in the heart of the EU. This entry of Cyprus into the monetary union that has proven its worth in terms of stability and low interest rates has attracted overseas investors into the country.
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