| Cyprus has been having an eventful year
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| | affordable property. The Daily Telegraph
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| so far, with New Year's Day bringing the
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| | said as much this week when it pointed
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| adoption of the euro as its official
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| | out that a two-bedroom apartment in
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| currency, the election of a new
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| | Paphos with access to a swimming poll and
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| president, Dimitris Christofias and with
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| | views of the deep blue sea could still be
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| him the tantalising prospect of better
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| | bought for only £136,000. Such an
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| relations with northern Cyprus, perhaps
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| | investment in a tourist area could have
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| even leading to a permanent solution to
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| | buy-to-let potential, not least if the
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| the division of the island into Greek and
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| | current advertising campaign fronted by
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| Turkish segments that has remained
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| | Cypriot tennis star Marcos Baghdatis is
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| intractably in place since 1974.
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| | successful. UK viewers may have seen some
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| Since Mr Christofias was elected the talk
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| | of the adverts on television already.
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| has been about possible reunification and
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| | Buy-to-let for UK tourists may be a major
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| this week even more so with the opening
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| | area of growth for investors in the
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| of a previously sealed border crossing in
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| | market, as in many respects the country
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| Nicosia. In the property sector there
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| | is perfectly suited for Britons. As the
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| has, meanwhile, been talk about the
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| | Galway advertiser has pointed out in an
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| possibilities the north may offer.
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| | article on investment in property there,
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| However, the south is where it is at in
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| | the road signs are mostly in English and
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| the here and now and those crossing the
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| | the language is widely spoken. While the
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| border into the south may be doing
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| | historical and colonial links with
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| exactly what investors should.
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| | Britain may be of less interest to Irish
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| This is certainly what the facts suggest,
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| | visitors, the paper points out that it is
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| Forbes has stated. In an article on
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| | a country popular with tourism from the
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| Europe's best and worst property markets,
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| | Emerald Isle partly for these linguistic
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| based on data from the Royal Institution
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| | reasons.
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| of Chartered Surveyors, it noted that
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| | The paper adds that the centre of the
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| Cyprus property saw the second highest
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| | tourist industry is indeed around Paphos
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| rate of Cyprus property price inflation
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| | (something which may make that £136,000
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| last year behind Poland. Unlike its east
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| | apartment yet more enticing), while
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| European counterpart, however, the
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| | offering a variety of attractions ranging
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| Mediterranean island has subsequently
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| | from sun and sand to the winter skiing
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| gained the advantage of being part of the
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| | opportunities afforded by Mount Troodos
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| single European currency, which may
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| | in the winter.
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| inspire greater confidence among
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| | So while the political observers of
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| investors than the zloty.
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| | Cyprus take an interest in the north,
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| Despite the rate of house price inflation
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| | there is every reason, it seems, for
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| rising from 7.6 per cent to 15 per cent,
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| | property investors to concentrate on
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| Cyprus still has plenty of highly
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| | Paphos and the rest of the south.
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