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Cyprus Property Investment News
British weather boosts Cypriot properties
Global warming appears to be having an impact on the overseas property market, with Cyprus reaping the benefits.
With the British summer of 2006 reportedly the hottest in recorded history (weather records began in 1659), Brits have acquired a taste for the balmy climes of the Mediterranean, according to property experts.
Dani Maxton, managing director of Morpheus investments, said that the length of the summer meant that the traditional periods of British investment were postponed:
"We normally receive an influx of enquiries in September when people are returning to work after the holidays and the summer sun starts to fade.
"However, the long, hot summer seems to have caused a later than usual bout of post-holiday blues and delayed property sales.
Ms Maxton added that good weather in October gave people "more of a taste for the sun", boosting investment.
With Cyprus set to adopt the euro in January 2009 and capital returns on property recently confirmed at an average of 37 per cent, the booming housing market in Cyprus looks set to remain strong.
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