Cyprus recommended to holiday home buyers

Thursday July 17th , 2008

Prospective lifestyle buyers have been encouraged to consider purchasing a residence in Cyprus.

According to Gulf Weekly, the Mediterranean island could be an ideal place to own a holiday home because it offers long summers and mild winters.

Paphos was highlighted as one area which is already very popular with foreign property buyers, a development which has pushed up house prices in the region.

This means that property owners may also stand to benefit from capital appreciation if demand continues to go up.

Gulf Weekly commented: "This is a solid market where properties are known to more than hold their value."

The publication added that the region also offers lots of other attractions, such as forests, countryside and beaches, as well as close proximity to an international airport.

This means that people who wish to visit their holiday home will not have to travel for long after alighting their plane.

According to the Home Move website, Cyprus is no longer just a hotspot for investors from western Europe.

The online portal said the country's reputation is rapidly growing in places such as Russia and attracting extra interest as a result.