The Cyprus property market is one of the fastest growing markets within Europe. Investors are attracted by the potential growth in terms of returns on investment of property in Cyprus compared to other countries in Europe and the UK. The climate (340 days of sunshine a year), along with easy access to the UK, Europe and other destinations is also a significant plus factor when considering the purchase of property.
Since the country’s independence, its economy has proved its dynamism and flexibility. Due to the performance, Cyprus is today ranked by the World Bank as a high level income country. Among the elements of its success are high GDP growth, a dynamic employment market, political stability, well developed infrastructure (transport, communications, etc.), and an expanding tourist industry. The island can count on its climate, its picturesque sites, its ancient vestiges, its medieval monuments, and its quality hotel installations to attract travelers and investors.
Cyprus has a free market economy with the role of the government limited to the provision of public utilities and the necessary infrastructure. The government also promotes and maintains favorable investment conditions, which permit entrepreneurs to participate directly in the process of economic activity.
Cyprus properties are a sound investment, worthy of consideration. The number of property developers in Cyprus is an indication of the scale of property development taking place in Cyprus. Cyprus aims to attract potential foreign investors and encourage them to become directly involved in the Cyprus economy, since increasing investment activities will contribute to the enhancement of the production capacity and will further enable Cyprus industry to compete in the international marketplace.