CYPRUS A FIRM FAVOURITE WITH INTERNATIONAL INVESTORS

CYPRUS A FIRM FAVOURITE WITH INTERNATIONAL INVESTORS

Cyprus is firmly back in the spotlight for international property investors according to recent figures published by overseas property portal themovechannel.com.

The recent Top of the Props Chart confirmed Cyprus’ popularity as an investment destination by ranking it in sixth place for the total number of enquiries made on the site during the month. Turkey followed close behind in seventh place.

These positive figures were verified by the results of a survey from the A Place in the Sun live exhibition at Birmingham’s NEC. In the Top Ten Most Popular Destinations in which Brits are planning to buy property in 2013, Cyprus came in seventh place. These results demonstrate that Cyprus is standing its ground as a firm favourite destination for British visitors.

Recent changes in Cypriot legislation including the opportunity to acquire residency permits for those buying property as well as price cuts, the strengthening of Sterling against the Euro and the fall in property taxation, help to account for Cyprus’ increasing popularity amongst overseas investors.

The number of tourists visiting Cyprus also continues to rise. Data from Cyprus’ Statistical Service shows that tourist arrivals in Cyprus were up by 0.8% in October 2012 compared to October last year, representing an increase for the sixth month in a row.

Commerce, Industry and Tourism Minister Neoklis Sylikiotis welcomed the news at the Paphos Regional Board of Tourism AGM, where he congratulated the city and District of Paphos for attracting one third of total tourist arrivals in Cyprus.

Tourist arrivals in Cyprus between January and October this year have increased by 4.1 percent in comparison with 2011. These results are encouraging and should help Cyprus continue to thrive as a tourist destination.

Source: Cyprus Property Buyers, Financial Mirror

About the author: Neil Hollingsworth

Neil left school in 1987 and joined the Royal Air Force (RAF) as a Survival Equipment Fitter, travelling round the world with tours in Northern Ireland, Falkland Islands, Cyprus and Iraq to name a few. In 2005 the government cut the armed forces and Neil had the opportunity to take voluntary redundancy, on leaving he went to work for a UK estate agent before moving on and setting up Rivermead Global. If you are looking at buying a property in Egypt or Turkey you have come to the right people.