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Best deals opening up in Cyprus

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




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