Cyprus attracts British property buyers

Monday June 23rd , 2008

Overseas property investors in the UK are becoming very keen to invest in Cyprus, it has been revealed.

According to a study by Jet-to-Let magazine, nearly 40 per cent of would-be British buyers plan to invest on the Mediterranean island in the next year.

This puts it ahead of rival markets including Morocco, France, Germany and Italy in terms of its overall popularity among Britons.

Dominic Farrell, editor of Jet-to-Let magazine, said the findings show most British people still believe that investing abroad is better than entering the UK market.

He commented: "They realise there are currently better opportunities overseas."

Mr Farrell added that educated investors are not looking for quick to returns and are willing to invest in the long-term.

This comes after property author Nigel Howarth predicted that Cyprus would soon attract more overseas property buyers.

Speaking to the Telegraph, he said it is likely to appeal to more investors as a result of its accession to the European Union four years ago.