Cyprus house prices set to grow
House prices in Cyprus could be set to rise as a result of its adoption of the euro, according to a national newspaper.
The Telegraph stated that the island's accession to the single European currency had already had a positive impact on its economy.
For example, Cyprus was said to have benefited from a drop in interest rates since its harmonisation with other eurozone countries.
The newspaper predicted that this would boost the country's housing market and create more interest from foreign property investors.
"Property values there look set to start increasing as more buyers take advantage of the new rates," the Telegraph commented.
The publication added that the island could be an ideal location for both second home buyers and people who plan to spend their retirement abroad.
Cyprus' entry into the euro came almost four years after it became a member of the European Union.
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