2007 Cyprus Property prices

In Cyprus, the market is expected to continue to grow at approximately 20% a year in the most popular areas with the South Larnaca area predicted be particularly strong as its popularity increases.
Cyprus is expected to be joining the Euro in Jan 2008 and all properties will then be priced in Euros. The mortgage rates will also reduce causing a surge in demand from the home market and well as other countries which in turn will push prices up again.
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In December 2006, Monarch airlines announced that they will be offering flights to Larnaca 4 times a week from Luton. The airline claims these will be the first low-cost scheduled flights to Cyprus from the UK. However for the past two years other charter companies have offered some excellent prices similar to what Monarch will be offering.
Flights will start on March 26 with one-way fares starting at £69.99, including taxes and web booking discount.
Monarch scheduled services managing director Tim Jeans said: 'Our new service will be warmly welcomed not just by the growing holiday and overseas property markets in Cyprus, but the 150,000 strong Greek-Cypriot community in London, who've been deprived of choice and low fares until now.'
This will be great news for investors as there will doubtless be many other budget airlines following suit, which will increase the popularity of Cyprus as a destination and the demand for property.