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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