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British investors snap up property in Cyprus

The credit crunch is not putting British people off buying an investment property in Cyprus, experts have revealed.

According to Jet-to-Let magazine, the Mediterranean island has been well insulated from global economic problems and therefore continues to provide a good environment for investors.

Dominic Farrell, editor of the publication, commented: "If you provide the right product and the right finance package in a country not overly exposed to the credit crunch, then investors continue to buy.

He added that many people have been put off investing in the domestic housing market by factors such as the decline in prices and rising levels of inflation.

By contrast, he stated that Cyprus offer a safe and secure investment opportunity to foreign buyers.

Jet-to-Let magazine recently carried out a study which found that the island is continuing to remain popular with British investors.

Figures showed that 39.7 per cent of prospective buyers plan to purchase a Cypriot residence within the next year.

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