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Buy Abroad News

03 Feb 08

Budget Airlines Target Cyprus

Good news for buy-to-let investors as more low cost airlines make the cost of flying to Cyprus even cheaper.

--- On the back of the announcement that easyJet has taken over GB Airways and will now be flying from London to Paphos, another low cost airline, Jet2, has announced that it will be running two flights a week to Paphos from Leeds Bradford starting in May.

Flights are probably going to start as low as £60, which complements the services currently run by Monarch Airlines from Luton as well as the easyJet offering.

Ed Anderson, managing director of Leeds Bradford International Airport, is delighted with the news and feels that it will further boost the reputation of the airport which has been expanding its destinations over the last 12 months.

John Reilly, managing director of Buy Abroad Ltd, said: "This is further proof that the demand for people to get to Cyprus is continuing to grow and can only be good news for investors in Cyprus property. Many of our clients are looking for buy-to-let returns as well as capital growth and the news that more cheap flights are planned for Larnaca and Paphos will only be good news for all concerned."

There has been a steady rise in buy-to-let investment, particularly in the Larnaca region where demand for long term rental is still high.

Mr Reilly went on to say: "We have found it very easy to find long-term rentals for clients who have purchased property in and around Larnaca as well as in some of the suburbs such as Oroklini and Pyla."

With rumours that Ryanair is also planning routes for Cyprus in 2008, the cost of flying to Cyprus is bound to keep coming down, making it more affordable for more people.

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