Cyprus ‘outpacing’ rest of europe?

House prices in Cyprus are rising at a considerable rate, claims one company…

A spokesperson for property portal Home Move commented: “Predictions of a boom in the Cypriot housing market this year have been proved correct. This was attributed to its recent entry into the single European currency, which was adopted on the island back in January.

”During the lead-up to its euro accession, interest in the Cypriot market among investors began to grow. As a result, house price inflation has outpaced many other European countries in the last few months.

"There is a high level of demand in the domestic market and the island continues to gain popularity with migrants and second home buyers across Europe.  The island is also appealing to investors from various parts of the world, including Western Europe and Russia.

Home Move recently described the rate of house price inflation in Cyprus in the last few years as "impressive".