The European Union's (EU) endorsement for Cyprus to join the Euro currency zone will cause property prices on the Mediterranean island to increase by around 35% over the next twelve months, according to experts. With final approval for Cyprus' Eurozone ascension due on 10th July 2007, UK based Morpheus Investments has predicted that demand for properties will rise rapidly during the next six months followed by steady, incremental growth throughout 2008 ...

Property investors investing in the Cypriot property market are taking advantage or pre-euro prices, before they increase once the country joins the Eurozone. Experts state that savvy buyers are moving to act on Cypriot properties ahead of Eurozone accession, amid concerns that prices will rise significantly after January 1st 2008. ...

Residential property prices in Cyprus have continued to rise, according to the BuySell Home Price Index. In June 2007, home selling prices in Cyprus rose for a sixth consecutive month, recording a monthly increase of 1.7%. The BuySell Home Price Index reached 126.72 (+8.0% year-on-year) bringing the Average Home Price in Cyprus to CYP 98,728 (EUR 168,686). ...

An informative and practical guide to retirement property, this 132 page book is designed to help those who are looking forward to lifestyle and property changes as work and careers take a lesser role. Retirement Property contains a detailed explanation of the various types of retirement property available, such as traditional, assisted living, close care and retirement rental, along with important issues, such as downsizing, mortgages, endowments and taxation. ...

Shipping companies looking for “shell” vehicles to enter stock market A surge in property investments, mainly by foreign buyers, has pushed land prices to record highs, with one investment banker saying that prime coastal plots are becoming scarce. “There are only 40 plots of commercial seaside land available for sale,” said Constantinos Loizides, adding that Cypriots sat at home and watched as foreign companies and investors kept on buying properties that kept on pushing land values up. Apart from investments in property, investors, mostly from Greece, are also looking to buy up Cypriot public companies with minimal traded volumes to act as vehicles for their own listing purposes. “Greek shipping companies are on the lookout to buy shell companies, which they will later transform into shipping companies and secure a quick stock market listing as it is very difficult to enter the shipping sector on the Greek bourse,” Loizides said. ...

Residential property prices in Cyprus continued to rise for a fifth consecutive month in May 2007, recording a monthly increase of 1.8%, according to the BuySell Home Price Index prepared by Dr. Stelios Platis and Marios Nerouppos of MFC S. Platis. The index reached 124.58 in May, compared with 122.44 in April, marking an increase of 9.1% increase over May 2006. The BuySell Home Price Index, which adjusts for factors such as increases in quality, is the only house price index produced for Cyprus. ...

The process of retiring to Malta and Cyprus is likely to become easier than ever next year, after EU finance ministers backed plans for both countries to adopt the euro from January, 2008. A European Commission report has investigated arguments from both countries and has concluded that they have 'achieved a high degree of sustainable convergence'. They are now seen as capable of fulfilling 'the necessary conditions for adoption of the euro as their currency'. An EU summit on June 21st will reflect further on the plans, but few analysts expect opposition to the idea of expanding the eurozone to 15. ...

Investors are becoming increasingly attracted to Cyprus, it has emerged. The reason is in large part that the island boasts some of the cheapest properties in Europe, according to findings from the Global property Guide. In the study of apartment prices in almost 50 European cities, it was discovered that Limassol's average apartment rent came in at just 2,167 per square meter. By contrast, the average rent per square meter is 24,9000 in Monaco. ...

Cyprus will benefit significantly from the adoption of the euro as its currency, which is expected to receive approval in July from EU finance ministers, according to the country's president, Tassos Papadopoulos. Speaking at the annual general meeting of Cyprus' Employers and Industrialists Federation (OEB), President Tassos explained that the country will see 'tangible benefits for the economy' upon accepting the euro. ...

THE Cyprus economy remains strong and set for further growth in 2007 and 2008, boosting the island’s chances for Euro zone approval from EU finance ministers next week. The forecast shows that Cyprus and Malta, who both hope to adopt the Euro on January 1 next year, meet the key Euro entry criteria now, according to the EU’s Spring Economic forecast, released yesterday. GDP in Cyprus is projected to continue growing solidly at 3.8 per cent in 2007 and 3.9 per cent in 2008, driven by domestic demand. The report forecasts increasing disposable income, supported by sustained wage and employment growth, and an expansion of investment mainly by non-residents in the housing market. ...