The property market investment arena in Cyprus is increasingly attractive to potential overseas property investors all over the world. Investing in Cyprus is an optimum choice for potential large returns for overseas investors. With the property rates steadily rising, investors are discovering that they can make significant gains on their property investments. Numerous people are seeking to purchase an island vacation home, holiday residence and even retirement home on Cyprus Island. In fact, Cyprus is a hot spot for both tourists and investors. Cyprus tourism is significantly rising and many overseas visitors are seeking to purchase second homes on Cyprus Island after visiting.

The property prices are anticipated to only increase over the years as Cyprus becomes better known. Overseas investors enjoy the benefit that even with increased property prices; the majority of the investment property on Cyprus is set at lower prices than many other European countries. Yet, the quality of the homes and the property features available are extremely competitive and in some cases significantly superior to other European property competitors.

Another attraction to overseas property investment on the Island is the Cyprus buying process is not extremely complicated and over-whelming. Even though the primary languages of Cyprus are Greek and Turkish, numerous residents and business people on Cyprus speak English. The process of purchasing and selling Cyprus property or even participating in a buy-to-let property investment is not too complex. The fundamental communications structure in Cyprus is similar to other European countries, if not simpler.

Cyprus tourism is a major draw to overseas property investment for this island. There are many tourist attractions to the island such as beaches. Beach property is very attractive because it offers people a place to retire or to have a vacation home year round. With Cyprus climate and weather yielding many days of sunshine and mild winters, many people desire a holiday home on the island that they can visit anytime of the year.

Cyprus culture is rich and beautiful. There are many activities on the island such as relaxing on the beaches, enjoying a fine cuisine experience on Cyprus Island, golfing, water sports, hiking, museums and more. With so much to there is never a dull moment when visiting the island and as a result there is high rate of repeat visitors to the island.

Cyprus Economy

Cyprus has a strong and sound economy that is based on an open, free-market.  The majority of the Cypriot economy is service-based with some light levels of manufacturing.  With so many of the locals speaking English, moderate cost of living expenses, two international airports and excellent telecommunications the island is often referred to as the bridge between the West and the East.  The influence of the island has given it a wonderful reputation of a culture that is contains the most thriving and successful people in the Mediterranean region.

There is a modern economy set up on the island that includes industrial and agricultural sections to compliment the sophisticated physical and social infrastructure of Cyprus. Unemployment is traditionally less than 4% on the island with many high-income earning workers located on Cyprus.  In fact, during the year 2004 Cyprus was categorised amongst the high-income countries.  The Cyprus economy is so flourishing that annual growth rate in the past several years has been approximately 3.8%.

With unemployment low and per capita income so high, the living standards on Cyprus are ranked top in comparison to other European countries.  Cyprus takes the 16th position worldwide for per capita income.  The labour force for Cyprus is highly educated and there is much successful entrepreneurship on the island.   The economic predictions for the future are that Cypriot economy will only become stronger.

Cyprus tourism plays a significant role in the Cypriot economy for the service sector.  Roughly 70% of the service sector is tourism based and even employs over half of the labour force on the island. Industry and construction provide roughly one quarter of the GDP and roughly 25% of the labour force employment. The majority of exports from Cyprus are manufactured goods accounting for 69% of the domestic exports.  Agriculture plays a role in the economy as well with potatoes and citrus harvest being the primary export crops making up 6% of the GDP.

There is tremendous economic benefit for Cyprus after the EU accession.  The benefit to Cyprus is more freedom for trading within the Union’s internal market including the transport of goods and services.  This means that Cyprus will be able to export on a larger scale and the economy will flourish and grow even more than it currently is.  To compliment this growth, Cyprus will reap the benefits from financial assistance from the EU as well as become a major regional business centre.

Cyprus is more than ready for the new economic surge and growth.  In fact, the island has the fourth largest ship registry in the entire world.  There are 2,758 ships with 25.5 million GRTs.  Cyprus has lifted import quotas and licenses in conjunction with the lowering of tariffs on many products yielding a highly competitive market and expansion for the trade markets.