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Buying a property in Cyprus (South)
Buying a property in Cyprus is attractive to foreign investors as it is in demand and the country provides a good quality of life for residents.
The property market in Cyprus is fast growing, with high demand for property from people all around he world, the market has become extremely dynamic for a small island.
Property in Cyprus has been growing steadily at around 20% per year with a high percentage of the demand coming from British buyers. Cyprus has been a popular holiday location for the British for many years and this has translated itself into being a popular location for British overseas property investment.
The process of buying a property in Cyprus is similar to the UK and quite straightforward.
Cyprus is a stable country economically. Within the European Union Cyprus rates well in terms of standard of living with strong economics.
The date set for Cyprus to join the Euro currency is 2008 which will put Cyprus in line with most of the rest of Europe.
Tourism is an important part of the Cypriot economy and the government has set up plans for continued investment into the countries infrastructure to attract greater numbers of tourists, and satisfy the needs of the many tourists Cyprus currently welcomes.