Cyprus Adopts The Euro

The 1st January 2008 was a very memorable day for Cyprus as they officially joined the Euro after years of planning and preparation. Not only is this going to make it easier for people travelling to and from the island from other countries using the Euro, but many people see it as an excellent investment opportunity. As a result of this, many are bagging a cheap flight to Cyprus in order to get a slice of the action and to make some money. 

One of the main reasons why so many people have a sudden interest in the Island is because experts are predicting that once the Euro has been introduced property values will soar. This means that now is a great time to invest while prices are low so that when it comes to selling up, a healthy profit will be made. Judging by the number of people jetting off to Cyprus in recent months the race is on to buy property on the island before the Euro becomes the official tender.  

Another reason why everyone is in such a rush to purchase property in Cyprus before the end of the year is because a 15 percent VAT charge is to be added on all land transaction. This is bad news for purchasers as it adds extra costs. This means that those who are serious about making profits are getting a cheap flight to Cyprus now before they lose out on a great deal.  With rising incomes, low interest rates and an increase in infrastructure spending, growth is set to rise even further in Cyprus over the next few years.

Low cost airlines are even increasing the number of visitors to the island meaning that it is so easy to find a cheap flight to Cyprus. Its location is a main attraction for investors as it’s in the Mediterranean so enjoys year round pleasant weather which means that there is always going to be a demand for holiday homes and people wanting a cheap flight to Cyprus.

Buy – to – let investors who bought only a few years ago have seen investment gains and solid rental returns.  With its beautiful beaches, tropical weather, interesting culture and the ease of getting a cheap flight to Cyprus the island is already a firm favourite amongst tens of thousands of tourists every year. The move is predicted to provide further economic stability and may in itself provide an impetus for new investment. It will also further enhance Cyprus’s suitability as an international business centre meaning that clearly this is the place to be. 

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