Property investment can be a vast and daunting field. Choosing the right market at the right time is by no means easy. When purchasing property, one must take the emotion away and invest with the head. Understanding purchasing procedures and property legislation is critical especially when investing overseas. Certain markets offer very transparent, regulated procedures. Cyprus is one such market.
Cyprus has been rated as the best place to invest in property anywhere in the world. Situated less than three hours flight direct from Dubai, Cyprus sits at the No.1 position in the Where on Earth Hot Property Index, or WHOEPI. The monthly WHOEPI assesses countries viability as an investment destination using a dozen factors. These include each countrys level of Foreign Direct Investment (FDI), its political and economic climate, its GDP, the number of the new developments being built there, the number of internet hits a country gets and how much promotion a country receives in the media.
Cyprus scored highly in new property developments, political climate, and very highly in net hits and media coverage. Popular for its year-round sun, the island is expecting a strong 2007 (realtor Knight Frank predicts 12.5 per cent capital value growth). Purchasing in Cyprus is simple, secure and puts you on on the European property ladder. Cyprus is a full member of the European Union and with that comes peace of mind from long standing property legislation.
A rush of new investors is expected towards the end of this year due to the planned adoption of the Euro in January 2008. Joining the eurozone should lower interest rates, making borrowing cheaper, and in turn fuel property purchases. So where in Cyprus? Areas traditionally popular for overseas investment include Limassol, Pafos and Agia Napa. Prices however reflect the demand, which is why the region of Larnaca in particular offers a new window for investors with relatively low prices on off-plan property along with the opportunity for excellent appreciation in property values.
With EU grants being offered to the region, Larnaca will be undergoing strong development over the next few years; new international airport, new marina for cruise liners, and the regions first PGA golf course all of which bode well for new investors. Specialising in international property investment, Mackenzie Macmillan advises a solid client base throughout the GCC. Partnered with Quality Group, one of the Cyprus leading developers and the Bank of Cyprus, Mackenzie Macmillan will host a four-day Investment Interactive from tomorrow to March 11 at the Fairmont Hotel, Dubai, from 2pm to 9pm daily.
The event gives potential investors of all levels the opportunity to sit and discuss investment opportunities directly with the developer and gain invaluable property investment advice from Mackenzie Macmillan.Read more UAE News on www.7days.ae
