News: Cyprus the preferred choice

Thu, 08 Nov 07

Cyprus is now the preferred choice in the Mediterranean for property investment and prices are set to rise considerably as more and more foreign investment comes to the island...

James Fleure of Buy Abroad commented: “Increases in property last year along with the Spanish market now slowing down has convinced experts that this healthy economy, in a sought after location in the Mediterranean is likely to be one of the best investments for some considerable years.

“As when Spain joined the EU, many property prices increased dramatically overnight. This same speculation has led to an influx of foreign investments on the island, which looks set to offer substantial dividends.

“However it is not just the investment groups we are seeing, far from it, nowadays investing in property is for everyone and the percentage of British buying in Cyprus is at an all time high, testament to this is the number of property developers on the island.

“Thankfully, building is strictly regulated so concrete jungles that started blighting the Mediterranean in the seventies will play no part on this island paradise.”

Prices start from just £77,127 for a one bedroom apartment.

James adds: “We fully expect to see a significant rise in property prices...and those that do invest here will also be able to step on to the rental market which continues to be very rewarding.”

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