Figures show increase in Cyprus interest

Cyprus has emerged as the leading country among investors considering purchasing overseas property, one expert has claimed.

David Bexon, managing director of property portal smartnewhomes.com, explained that the number of people searching his website for overseas homes jumped by 45 per cent between July and September of this year.

And analysis of the company's figures for the preceding months revealed Cyprus is country most users are searching for, possibly indicating that investors are considering making purchases in the area.

"Countries like … Cyprus are attracting second home buyers as well as property investors, because of their holiday potential," Mr Bexon explained, noting that recent figures from Knight Frank have indicated that the country is offering annual growth of at least nine per cent at present.

Manager of property developer Cybarco Jonathon Salsbury recently claimed that the Cyprus property market will not suffer in the credit crunch as it is receiving a boost in the form of investment from countries such as Russia.