Cyprus - a healthy investment

Those considering a investing in property in Cyprus may not need to do too much research to realise that the country is blessed with fine weather, warm coastal waters and attractive beaches. A bit more research will establish that it is an anglo-friendly country, with documents written in English, Commonwealth membership and right-hand driving, as well as having a highly developed tourist infrastructure and plenty of airports.

Best of all, Cyprus property expert and Cypriot resident Kevin Moore has written, the returns on investments are good, particularly off-plan. "There is a good chance that it will increase in value before its even finished or you have paid off the full amount of the purchase price," he stated in an article for PR-GB.com.

Mr Moore added that the investment can pay for itself through the "huge rental market" that has emerged as a key feature of the growing Cypriot tourism industry. "This is a win- win situation for those who own Cyprus apartments and those looking for private holiday accommodation too," he stated.

Cyprus is certainly attracting the tourists, with even Britain's tabloids recommending it to people who might traditionally have headed for the Balearics or the Costas. Writing in the People, Jon Wise wrote: "With its stunning mountains, hidden beaches and sunny climate, it's easy to see why millions of Brits fall in love with the island," reported homesworldwide.co.uk last week. The advantages listed were familiar: short flying times from the UK, plenty of heritage, culture and nightlife, things for people of all ages and with different interests to do. In other words, mass appeal.

With the tourist market strong, what Cyprus needs, of course, is for other aspects of life there to be positive as well. The news on this front is good. Since joining the European Union, the country has performed well economically, with the latest Labour Force Survey showing that unemployment, with the exception of the under 25's, is falling substantially, with the figures published today showing a national joblessness rate in the second quarter of 2007 of 3.4 per cent, down from 4.8 per cent in the previous quarter, the Financial Mirror reports today. This positive economic news comes at a time when the country is gearing up for Eurozone entry, which takes place on January 1st 2008.

In addition to a health economy, health at large is improving too, the Cyprus Mail reports today. In the latest European Health Consumer Index, the country came 13th out of 29 countries, up from 19th last year. This represented a better performance than Britain, which finished 17th.

Thus Cyprus offers not just the tourist attractions and affordable investment property; it also has a growing economy which suggests none of the boom is likely to turn to bust soon, topped off with a health service which is ranked higher than Britain's. All of which suggests that Cyprus offers a healthy investment indeed.

Jim Barnaby is a real estate investment broker and successful property investment adviser delivering research and selected UK and overseas property investment solutions with experience in spanish properties, french property investment, German property, Cyprus holiday homes, Property in Cape Verde, German property investment, cape verde property buy to let property