Cyprus as an investment opportunity

The island of Cyprus is the 3rd largest in the Mediterranean and since joining the EU in 2004 on the back of solid and steady economy and following a smooth and successful switchover when Cyprus introduced the euro as official Cypriot currency in January 2008, it is widely expected that Cyprus will see a jump in tourism levels, given the improved ease of holidaying there thanks to the euro.

Cyprus is also expanding its tourism offerings to include wedding tourism thanks to an uncomplicated legal structure and guaranteed sunshine proving a winning combination.

The rise of the real estate market in Cyprus is also expected to benefit from the euro in line with previous adopters who have witnessed significant increases in property prices.

Furthermore, infrastructure investment is also underway with confirmation from The Cypriot government that a 30 year contract of works to include financing, design, construction and operation, will soon begin on a new €470 Million motorway linking Paphos to Polis.

With airport journey times slashed from an hour to less than 20 minutes, the advent of a new motorway should see Latchi and Polis become much more sought after. With nearly 40 airlines operating over 260 weekly international flights into both Larnaca and Paphos airports, expansion is already underway due to increased passenger demand. Both airports handled record passenger traffic of over 7m visitors in 2007, attributed to growing numbers of second home owners, permanent retirees and visitors traveling to Cyprus.