Apart from the new international airport (currently under construction) a marina and many new developments in Larnaca all of  which are all planned for completion in 2008 – 2009, additional new facilities are planned for Cyprus, including, a brand new hospital, a university, an international business centre, as well as a large leisure and cultural centre. What is more, the government has also launched a new golf policy which will increase the number of 18-hole golf courses on the island from 3 to 14. These factors, along with continued property development all over the island, indicate significant economic growth, which can only be encouraging signs of growth to foreign investors.

Since its joining of the EU in 2004,  Cyprus has enjoyed capital growth of 30-40% while property prices remain considerably lower (up to 30% lower) than in France or Spain. Former property purchase restrictions on foreigners were lifted and deposit levels have fallen to as low as 10-15% in some areas. Swiss franc mortgages are now available with rates of just 3.25%, making borrowing more affordable than ever.

Reasons why property in Cyprus is a good investment

The property market is one of the fastest growing in European Union. Prices are increasing by an  annual average of 20%.
Property prices are still far lower than in many other European countries.
Increase in the number of golf properties available. Golf property prices fetch up to 40% more.
Comparatively low tax rate, including a Double Tax Treaty with the UK.
Capital Gains Tax of only 20% and Corporation Tax for Cypriot limited companies (through which you can own your property) at only 10%.
UK pensions can be received tax free in Cyprus.
Foreign residents permanently residing in Cyprus pay only a 5% flat rate of income tax.
340 days of sunshine a year make it a comfortable and enjoyable place to live.
High standard of living with good facilities, including top class golf courses.
Low cost of living.
Comparatively low crime rate 1/6th of  European average and friendly &  hospitable  people.
Excellent medical facilities, education and offshore business advantages.
Tourism is predicted to grow by 4.6% over the next 10 years, contributing some 13.9% to the country´s GDP by 2014
British based legal system, where English speaking lawyers abound.
British based banking system, making choosing mortgages and managing your money similar to back home.
Adopting the  Euro as of 1st January 2008.
Very efficient land registry with straightforward and well administered procedures