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News: Cyprus appeal heightened

Tue, 04 Sep 07

The appeal of Cyprus to holiday home buyers is heightened by its low taxes and the fact that cheap flights to the island are now available, a property expert said today...

Simon Tweddle, Head of research at Property Secrets commented: ‘Cyprus is fundamentally a nice place to go on holiday. At the same time, Cyprus is a better place to buy for people looking to relocate or acquire a holiday home, since individual property investors on the island stand to be squeezed by large investors who are rapidly increasing their presence”.

Mr Tweddle continued: "Airlines have started to fly to Cyprus... so I think overall the market is quite good". However - if you're thinking of buying a holiday home, you have to think: Do I like going to Cyprus for my holidays, rather than viewing it as an investment."

Cyprus is due to join the euro following approval from EU leaders this week.

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