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Investors 'can still get bargains in Cyprus'

Article Date : Friday, September 28, 2007       Bookmark on Facebook   Bookmark on Del   Bookmark on Digg   Bookmark on Facebook   Bookmark on Reddit   Bookmark on Spurl   Bookmark on Furl   Bookmark on Yahoo   Bookmark on Magnolia   Bookmark on StumbleUpon   Bookmark on BlinkList

Increasing numbers of investors are seeking to cash-in on cheap property in Cyprus, it is claimed.

Rising prices on the market are attracting many holiday home buyers to both newly discovered bargains in the north of the island, although good deals can still be obtained in the south, Cyprus property expert Kevin Moore has said.

However investors are advised to be cautious, noting that a lack of infrastructure exists in some parts of the north, in addition to territorial disputes with some Turkish Cypriots.

Mr Moore has recently claimed that beach properties on the island are cheaper than many parts of Europe and up to 40 per cent lower in cost than comparable inner-city apartments in the UK.

An increasing level of property development in the country means that new areas of opportunity are available to investors with smaller villages along the coast offering prices up to 50 per cent cheaper than those seen in the island's main holiday resorts, Mr Moore added.

According to the Financial Mirror, income from Cyprus' travel sector has increased by 3.2 per cent between June 2006-07.
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