I came across the below news release courtesy of The Move Channel today, and thought I would buzz it out as it's a really positive note to end the week on, for those of us who have already invested in Cyprus.

This news release confirms everything I have been saying for the past two years and also suggests that there's still a long way to go before Cyprus comes off the investor map.

The Royal Institution of Chartered Surveyors European Housing Review 2008 has described Cyprus as ‘a rare case of a country shrugging off the gloom.'

Experts have said that Cyprus is a solid bet for international investors as its price rises seem to be accelerating.

Reasons behind the booming property market include Cyprus double-taxation agreement with the UK, which entices numerous investors drawn by the tax advantages of not having to pay tax in both their home country and investment country.

Cyprus also has a legal system based on the British model, far less volatility than other emerging markets, a high standard of living, good medical facilities and a very low crime rate, sitting at just one sixth of the European average.

With an increasing ex-pat community of British retires and the upgrading of Larnaca and Paphos airports making travel easier, the future bodes well for Cyprus following it joining the Euro currency in 2008.

James Fleure of Buy Abroad said, "Cyprus is a perfect overseas destination for those looking to take advantage of owning a property abroad.

"This steady yet performing market is attractive to those who are looking to have all the benefits of owning abroad.

"Cyprus' is one of the safest markets around with a steady increase of up to 15 per cent per year on property.

"Emerging markets with dramatic price increases often fall far short on good solid infrastructures.

"Cyprus is a safe bet and with significant increases to property each year is still probably one of the best areas in the Mediterranean to invest in," Mr Fleure added.

In addition to the above comments, I personally believe that there will be a second tier of growth in Cyprus at the end of 2009 that coincides with the opening of the new airport terminal, and budget airlines scheduling more cheaper flights to the island. Plus of course, in the longer term, there is the extraction of the oil that was recently discovered off the Southern Coast. This will bring people, business, and wealth to the island and fuel the economy in years to come.

So the outlook for Cyprus continues to be very bright, both in the short and long term, which is always reassuring for investors.

This is me at Aphroditie's Temple.

I am heading off to Cyprus again myself in September and leading a group of investors around the island, educating them along the way. If you would be interested in joining my guided tour, then please feel free to drop me an email at nick.tadd@4wallsandaceiling.com.

I will also be doing a presentation about the benefits of investing in Southern Cyprus at my networking event on Sunday 21st September in Milton Keynes. Please - click here - to register your seat.

Otherwise if you would like a complimentary copy of my e-book "making money while the sun shines" please e-mail me at nick.tadd@4wallsandaceiling.com

Have a great weekend!