Low Interest Rates Tempt Investors to Cyprus

Posted by: cotton in 4walls blog on Jan 22, 2008

Tagged in: Cyprus

Source: - Homes Worldwide

Nick Says…

Just goes to show, albeit a year or 2 late, but the maths is on your side. Get in to it now before the “roaring hoards” and you will have bought it for less. Based on that you will always have a marketing “ace” up your sleeve that the late comers will not… you can charge LESS rent than they can and it still will pay for itself.

Interest rate cuts in Cyprus could serve to attract more foreign property buyers to the country, a newspaper has stated.

Cyprus became a member of the single European currency at the beginning of the year, adopting the same rate of interest applied across the eurozone.

This has prompted the Telegraph to speculate that the new rate of four per cent could help enhance the island's appeal as an investment market to foreign buyers.

The newspaper commented: 'Property values there look set to start increasing as more buyers take advantage of the new rates.'

In addition, it said that during the two weeks since Cyprus joined the euro, the currency had 'already' had a positive impact on its economy.

Earlier this week, EU monetary affairs commissioner Joaquin Almunia congratulated the island's population for giving the euro a 'warm welcome' since it entered circulation on New Year's Day.

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