Euro to boost Cyprus' property market
Entering the euro is likely to have a positive effect on Cyprus' property market, experts have stated.
Advice website BuyAssociation stated that the island's accession into the single European currency was likely to trigger a surge in house prices.
Paul Collins, overseas property editor of the online portal, said the increase in values was likely to be permanent.
This means that people purchasing a residence in Cyprus could benefit from considerable capital growth over the next few years, leading to them receiving greater returns on their investment.
Mr Collins added that entering the euro would bring both economic and political stability to Cyprus, which he said were two very important issues for investors to consider.
He commented: "When they look at buying a foreign property the things they look for are economic stability, climate and the ease to get there."
Cyprus became a member of the euro on New Year's Day.
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