Cyprus - sell or hold? The current state of the property market and the best investment strategy
18th January 2008
By Anna Grybel, Property Analyst, Property Secrets
The capital growth has been very good.
After Cyprus joined the EU in 2004, it became a very attractive place for foreign buyers, especially British, looking for holiday homes, but also property investors.
Low entry prices combined with low taxes and all year sunshine encouraged them to buy property.
The investors were hoping their homes will go up in value due to rising demand for coastal, off- plan apartments and that they could make some profit by renting the apartments or selling in two or three years.
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