Cyprus Property
July 3, 2008 7:11 am TravelToday, Cyprus Property is in great demand. The cause of that demand is tourism. All over Cyprus, evidence of building programs is evident.
In Cyprus, property is much cheaper than many other European countries. Cheapness of property, together with lower average wages in Cyprus means that in Cyprus hotels are able to charge lower rates. These in turn fuels tourist demand, which mean more and more hotels are being built.
The relative ease in obtaining planning permission means that it is far easier (and quicker) to complete building projects. The downside to that is that lack of planning in some areas have led to an obvious water shortage.