Cyprus tourism trade tempts rental investors

Property investors are increasingly choosing to snap up houses in popular Cypriot holiday resorts.

According to the Galway Advertiser, the Mediterranean island is attracting about 2.5 million foreign visitors every year.

This is helping to drive economic growth across Cyprus, which has in turn enhanced its appeal to prospective property buyers.

The newspaper said that investors from countries such as Ireland are showing a keen interest in the market and choosing to buy new developments in hotspots such as Paphos.

Since Cyprus offers good weather for 12 months of the year, this puts them in good stead to collect healthy rental returns.

Meanwhile, the country's expanding housing markets means investment properties are steadily increasing in value.

The Galway Advertiser commented: "The property market in Cyprus remains very strong and vibrant, offering excellent value with quality developments."

According to the Home Move website, property values in Cyprus are likely to go up by about eight per cent this year.

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