Cyprus remains 'a sound investment' for overseas property seekers

Tuesday December 30th , 2008

Cyprus is still a good place to invest despite the plummeting pound, a property expert has claimed.

Speaking to the Birmingham Post, Steve Wright, managing director of Cherish Properties, suggested that the country was experiencing strong growth.

He told the newspaper: "The difference in Cyprus is the control of the supply. It has a very small population and a very big tourism industry.

"Over the last two to three years, Cyprus has seen 20-30 per cent growth and it is now predicted to grow by around ten per cent a year."

Meanwhile, people should not give up on their dreams of moving abroad despite the weak pound, it has been claimed.

According to travel website shelteroffshore.com, British people who are intent on retiring in another country should ensure they are planning and preparing enough, rather than thinking about giving up.

The website asserts that although the pound will now buy around 30 per cent less in countries such as Cyprus, people should remember that the cost of living in these destinations was always considerably cheaper than in the UK.
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