Cyprus Property market bouyant

property

Contrary to the sales downturn being experienced by many overseas countries, the Cyprus property market has remained buoyant, cashing in on investors who have been turning away from the less attractive / weak markets and returning to the safer and established areas in the Mediterranean

Whilst UK buyers continue to purchase holiday and retirement homes or simply an ‘escape route’ from the economic and climatic gloom in the UK, investors are looking to off-set stock/share losses with an option of steady growth and tangible assets

It is true to say that prices on the Island are much higher than they were 5/10 years ago and as such are now settling to a more sustainable, mature market rate increase of around 10 per cent per year.

After all, as an island there are limited development opportunities and the authorities are strict on build density, quality of build/facilities as well as retaining the country’s cultural heritage.

Needless to say, Cyprus has a long peaceful relationship with the UK, which shows no sign of abating.

Be it the weather, the fact that we drive on the same side of the road or the general ‘joie de vivre’, Brits have been flocking to this Mediterranean island for decades .