Property market in Cyprus is still a European favourite for UK investors

4 March 2007

Colonial links with the UK make Cyprus a popular choice for British investors when seeking property abroad for a second home or for a safe investment opportunity.

The southern shores of Cyprus are being favoured over the ever popular locations of France and in some cases Spain say Principal International, a leading overseas property investment company.

With English being widely spoken on the Island and tourism numbers growing every year, numbers are expected to double in 2007, Cyprus is a mature market offering property that is still cheaper to buy than in the UK.

Principal International currently have a number of apartments and villas for sale, and with prices starting from under €170,000 for a 2 bedroom apartment in Paphos, the price of property here remains a primary reason to invest, see their website for details; https://www.principalinternational.co.uk.

Cyprus is also favoured by the retiring community as there is a low crime, high quality life style here. With the stable infrastructure offering exceptional English speaking medical facilities, the older generation have sought its sunnier climes and azure coastlines. Buying property here is made easy and with the land registry rules being broadly similar to the UK, the restrictive processes seen in other European destinations do not apply, infact research shows that Cyprus is the number one destination for UK retirees.

Simon Ryeland, Director of Principal International, says that as increased tourism numbers generally have a positive influence on property prices, we can expect to see continued healthy growth throughout 2007, and this will entice the investors as well as the second home buyers.