Cyprus tipped as hot investor destination

Cyprus is offering some historic opportunities for investors, it has been claimed.

In his regular blog for property firm Assetz, chief executive Stuart Law said that after months of being "in denial", developers are offering discounts of up to 40 per cent.

He predicted that the Assetz clearance unit will be particularly busy in the coming months as discounted properties are snapped up and stock is cleared at many newly-built developments.

Mr Law stated that the country offers comparatively little risk of civil conflict, dubious banks or economic problems, making it a safer bet than elsewhere, remarking: "At these prices we are looking at deals that have not been seen for around ten years."

Such news may interest investors keen to buy while prices are low and the island is in recession, in preparation for better times in the future.

In October, a Daily Mail feature on Cyprus noted that bargains have been emerging, with one example being a two-bedroom apartment in Paphos with a sea view, which was available for GBP81,000.