There has never been a better time to buy property in Cyprus, renewed efforts to encourage tourism are bringing new visitors to the island and with the Euro due to replace the Cyprus Pound in less than 18 months, property prices are likely to rise very soon.

The third largest Mediterranean island (after Sardinia and Sicily), Cyprus has been popular with UK tourists for many years, and since joining the European Union in May 2004 has also attracted property investors.

The climate is one of the most appealing aspects of Cyprus, it enjoys 300 days of sunshine each year, and shares cheap prices with other Eastern European countries but does not suffer their cold winters. Britain ran Cyprus until 1960, and there is still a welcoming atmosphere. Cypriots usually speak good English, drive on the left and retired people who spend more than half the year on the island benefit from low rates of tax on their pensions.

The relaxed lifestyle and temperate climate has led to some 60,000 English emigrating. This has had a knock on effect on the tourist trade, as so many people are buying and letting their own homes that sales of package tours and hotel room rentals have been declining for four years while for DIY suppliers and decorators business is booming.

If you’re planning to purchase and rent out your home commercially rather than move into it yourself you will be glad to hear that the Cyprus Tourism Organization is planning for a tourist friendly future. The Cyprus travel industry is expected to account for nearly 11% of GDP in 2006. Nearly a third of Cypriots are employed in the tourism and leisure industry, and the Cyprus Mail quoted Cyprus Tourism Organization spokesman Pantelis Ioannides saying that in the first five months of 2006 tourism revenue has increased by more than four per cent.

In September the Aphrodite Hills resort is hosting a celebrity golf tournament and offering UK golfers the chance to tee off against Sir Henry Cooper, Jasper Carrott, Ian St John and other famous faces for £131. The contest is being organised by the Cyprus Tourism Organisation and Thomas Cook to bring tourists to the area and sponsor a new children’s unit at King’s College Hospital.

In October the Church of Cyprus is organizing the First International Conference on Religious Tourism which will look at the importance of Christianity to Cypriots and the appeal to visitors of sites such as the eleven UNESCO protected world heritage churches and the famous monastery at Kykkos.

In 2008 a new passenger terminal at Paphos Airport will enable 2.7million more visitors to land on the island each year.