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Our Top- Property
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Cyprus, your safe harbour in times of the global financial crisis
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Within the last few weeks it has turned out, that the insular state Cyprus again as always the only " safe habor in the middle of heavy turbulences" of the global financial crisis. Last week on the EU-summit, where the representatives of the EU-states and Great Britain discussed the recovery of the banking system, it became clear, that the economic situation of Cyprus is not the same as in other member states. It doesn't have to fight any of those great problems. There were also no signs of any changing of this situation. It is even more likely, that Cyprus will benefit from the crisis, as it actually turns out to be one of the few safe places for making business. As a result of numerous meetings of EU-ministers of finance and chefs of the CentralBanks is was observed that Cyprus is free from the problems that have shattered banking systems of Ireland, Iceland, Great Britain, Germany and shortly Spain. Cyprus seems to be a spot of land that is immune against those financial turbulences that threaten Europe, USA and the whole financial world. The Cypriot minister of finance Mr. Charilaos Stavrakis, underlined recently in his speech in the government, that it would be no understatement to say, that the banking sector of Cyprus is the safest in whole Europe. He constituted his statement with the following arguments:
1. Cypriot banks didn't invest into junk bonds (Minister defined them as "poisonous" 2. The local banks depend on domestic saving deposits (not on Inter-Bank Credits) 3. The capital reserves of Cypriot banks are higher than the granted credits. 4. The economic efficiency of the Banks is very positive and has a very solid profit structure. The economic growth in 2008 and 2009 were defined as 3-4% per year, which is a lot in comparison with the European level. This fact contributes to the stability of Cyprus as investment zone. Moreover, the government has a free budget of 2 billion Euro to solve any future difficulty. The sum is a very good financial buffer considering the size of Cyprus. At the moment the Central Bank of Cyprus has been praised for its foresighting conservative investment policy. It alerted Cypriot banks from excessive credits and inadequate hedges. Many investors from other countries have now, that the financial crisis broke out, one question that needs answering: what to do, when your own money is not safe in the bank? There are 3 options that cross one's mind – diamonds, precious metals and real estate. We are witnessing the moment where international investors go to Cyprus to look for a good and safe invertsments for their money and for the best rates. The local real estate market is very robust. Investors, that are looking for an investment for 3-5 years will see, that Cyprus is a very interesting option for them. Cyprus is divided into several development zones. The government protects the natural resources of the island and allows only partial development of the land. The Gross Floor Area in the most distiguished places on Cyprus is about 20-30% . The most requested places for building are on the hills of Paphos, Limassol and Protaras. Cyprus is an insular EU-state, with 340 sonny days and a continuously developing infrastructure. It walks the way of Monte Carlo for the eastern Mediterranean Sea. 10 planned(and 3 existing) golf courses, 6 new luxury marinas, shopping malls, modern private hospitals and a rising amount of international flights to Cyprus offer a wide range of investment opportunities. See for yourself.
last update: 04.12.2008
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Taking care of your investment
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With offices by Lake Garda and Meran (Italy), Munich, Rosenheim, and Frankhurt (Germany), Innsbruck (Austria), Luzern (Switzerland) our team of architects, experts and partner firms in Dubai (UAE), Brasil, New York und Florida (USA), Hurghada (Egypt), Netherlands and Mallorca and Marbella (Spain), Portugal and Cyprus we provide the highest German service standards to our clients.
The company, founded in 1998 as – "international real estate has concentrated on ideals of luxury and offering exclusive properties from the very beginning.
Providing our clients with personal care and outstanding investment opportunities is our daily mission. Hence we make high professional and personal demands on our team.
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