The Cyprus property market has gradually become less dependent on British Fly to Let investors because more Eastern European buyers, including Russians, have moved in to this sector.

They now sit beside Cypriot second home buyers as the predominant force fuelling the country’s booming property market. British and Western buyers now account for a far smaller proportion of the market.

According to the Royal Institution of Chartered Surveyors, the Cypriot economy has coped well with the global slowdown, and is well placed to benefit from the recent European Central Bank rate cut.

The International Monetary Fund also has high hopes for Cyprus, predicting that the island will enjoy growth of 3.4 percent this year and 2.9 percent next year.

Les Calvert, director of property portal Property Abroad, sees Paphos as a particularly strong area of Cyprus.

He said: “Our Paphos properties are particularly popular with holiday home buyers and Fly to Let investors at the moment, and are likely to become even more popular once the new terminal opens at Paphos airport on 17 November.

“Paphos' beaches are one of its greatest strengths, lapped by not so much a sea as a loch surrounded not too distantly by land on all sides, which also gives the Paphos coast a particularly mild and warm climate almost all year round.”
Property Abroad has some properties in Paphos that will appeal to Fly to Let buyers on a limited budget.

A fully furnished studio apartment in Paphos is being sold for just £38,000. The apartment is in a brand new building, with a communal pool, covered parking, and located near the coast in Peyia, Paphos.

For those with a slightly bigger budget, Property Abroad's star Cyprus property is the off-plan Zephyros Village 1 development, offering 2 and 3 bedroom maisonettes and apartments, priced from £92,000, in a secure and peaceful village style resort development.

Located in the traditional Cypriot village of Mandria not far from Paphos and its international airport, the development features: a large communal swimming pool, children's paddling pool, private parking, and is near an 18-hole professional golf-course.

© Fly2Let.net Ltd 2009 l Terms of use l Contact l Free Subscription l Webmaster
Brazil l Bulgaria l Canada l Cape Verde l Croatia l Cyprus l Dubai l Egypt l France l Germany l Hungary l India l Italy l Morocco l Portugal l Romania l Slovakia
South Africa l Spain l Thailand l Turkey l UK l USA l Other Countries
Investment Property l Off Plan Developments l Ski Property l City Apartments l Golf Property l Beach Front Property l Land Investment
Cheap Flights l Car Hire l Property Finance l Property Insurance l Travel Insurance l Property Maintenance l Overseas Removals l Currency Exchange l Exhibitions & Seminars