Property price in Cyprus is on average a fourth of the value in Western Europe. This makes it possible for you to own a second home, for holidays or leisure, a more luxurious retirement home, or even a lucrative investment opportunity. Although so much cheaper it appreciates steadily over the years and especially during the last five, on a rate of 15 to 25% per year depending on location. Accompanied by a strong currency your propertys net worth is growing at a very healthy pace. With the European Union accession from May 1st this year, a healthy and growing economy, a rising overseas property demand and the right for multiple ownership and rent out by all member state citizens, provide the foundation for a momentum that will keep healthy property price growth for a good many years to come.