Cyprus set to attract more investors

Friday April 25th , 2008

Cyprus is set to become more and more popular with foreign property buyers, according to an expert.

Property author Nigel Howarth, who moved to the island in 2002, said Cyprus's popularity is continuing to grow.

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

This, he stated, has led to the possibility of restrictions surrounding property ownership being lifted in the near future.

If this occurs, Cyprus is likely to become considerably more popular with investors, a development which should push up house prices in many areas.

Mr Howarth commented: "As well as further increasing demand by British sun-seekers, the removal of these restrictions should also increase demand from citizens of other EU member states."

Earlier this week, the Home Move website revealed that 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