Buy Abroad News

23 Feb 06

Influx Of Foreign Investors Into Cyprus

Cyprus is now the preferred choice in the Mediterranean for property investment

--- Cyprus is now the preferred choice in the Mediterranean for property investment and prices are set to rise considerably as more and more foreign investment comes to the island in readiness for EU accession which is strongly expected to push property prices considerably higher.

James Fleure of Buy Abroad says, "With accession to the EU on course for 2007/2008 we have a seen continued appreciation in Cyprus property prices. Increases in property last year along with the Spanish market now slowing down has convinced experts that this healthy economy, in a sought after location in the Mediterranean is likely to be one of the best investments for some considerable years. As when Spain joined the EU many property prices increased dramatically overnight. This same speculation has led to an influx of foreign investments on the island, which looks set to offer substantial dividends. However it is not just the investment groups we are seeing, far from it, nowadays investing in property is for everyone and the percentage of British buying in Cyprus is at an all time high, testament to this is the number of property developers on the island. Thankfully building is strictly regulated so concrete jungles that started blighting the Mediterranean in the seventies will play no part on this island paradise."

One new development that offers an ideal investment opportunity is Angels Mansion in Kiti. Ideally situated in this popular village which provides excellent local amenities it is also ideally placed with only a short drive from Tersefanou home of the new golf course and club house, again further enhancing the popularity of the area with locals and tourists alike. There are 16 one and two bedroom apartments available in this prestigious colonial style mansion. Each apartment boasts spacious accommodation and comes finished to a very high standard. In addition each apartment comes with an underground car parking spot along with a storage room. There is a large communal swimming pool which offers glorious sea views and there are changing rooms and an abundance of landscaped gardens.

Prices start from just £77,127 for a one bedroom apartment.

James adds, "Being at the off plan stage, Angels Mansion is an ideal investment opportunity. We fully expect to see a significant rise in property prices before completion of the apartments and those that do invest here will also be able to step on to the rental market which in conjunction with EU accession is expected to be very rewarding."

About Buy Abroad

Buy Abroad is a leading overseas property specialist which operates in Turkey, Cyprus, Spain, Malta, Portugal, France, Italy and Bulgaria. For more information visit www.buyabroad.com or call 01234 401557.