Future Cyprus opportunities 'good'
Property investors looking to head for Cyprus have been told that future opportunities in the country are good.
According to figures released by the Financial Mirror, property will show see a 20% appreciation rate by the end of the year, reports Homes Worldwide.
Certain analysts believe that this is down to the fact the government is to impose a new 15% VAT land tax at the start of next year.
Others claim that the government expects a marked growth in the property market over the coming months, the body states.
Furthermore, the government made $173 million (£116 million) over the first five months of 2007 from capital gains tax receipts, according to the paper.
Local and overseas investment is fuelling the boom and mortgage demand is also rising, the Financial Mirror contends.
In related news, the chairman of the Cyprus Tourism Organisation has stated he will try to obtain more low-cost flights to the country.
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