Cyprus is a stable democracy and has been a full member of the European Union since 2004 and adopted the single common currency - the Euro - in January 2008.

The efficient banking and financial services sector in Cyprus is robust and maintains a conservative business ethos. Banks continue to adopt a responsible lending policy in granting loans to buy real estate.

This has assis­ted the establishment and growth of a real estate market in Cyprus less affected by the global economic downturn than much larger economies where financial discipline has been less in evidence.

For clients requiring mortgage facilities, 70% Loan to Value (LTV) facilities available for those with the necessary financial credentials.

Cyprus lies at the crossroads of three continents. As the easternmost member of the European Union, it is close to the key business centres of North Africa and the Middle East. With trading patterns that strengthen its economic ties to the rest of Europe, Cyprus is positioned to diversify and develop commercial links to new markets.

Licences have been granted for the offshore exploration - and exploitation - of potential gas and oil reserves. The long term implications for the stability and prospects of the real estate market are considered positive, as reflected in the growing interest from the rest of Europe, Russia and the Gulf States.