Briton speaks of Cyprus property investment

An overseas property buyer in the UK has told a newspaper of her decision to invest in the Cypriot housing market.

Marion Fivey, who lives in Falkirk in Stirlingshire, recently spent £196,000 on a one-bedroom apartment near Paphos.

Speaking to the Sunday Mail, she said she plans to use it a buy-to-let property, as the region is popular with holidaymakers from Britain, Europe and Cyprus.

The yields would then be put towards funding her retirement in later years.

Ms Fivey commented: "My financial advisor said the best move was to invest abroad.

"We wanted it to have maximum rental potential and Cyprus is a great bet for this."

She added that as well as being a nest-egg for her retirement, the property will also be a good holiday home in the meantime.

This comes after the Independent said that Cyprus does not seem to have been negatively affected by the worldwide financial crisis.

According to the newspaper, this development represents a "convincing case" for the island's investment credentials.