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Investor tells of Cypriot purchase

A British investor has told a newspaper his reasons for purchasing an investment property in Cyprus.

According to Martin Cooper, the Cypriot government is exploring for oil near the Limassol region.

Therefore, he has bought a property in the area as it will soon attract an influx of workers in the industry.

Since the region is already very popular with holidaymakers, Mr Cooper believes it offers the potential to generate healthy rental yields.

He told the Sunday Mail: "If those plans go ahead there will be lots of industry people looking for accommodation, so fingers crossed."

Mr Cooper added that there is a huge amount of development across the island at the moment, such as various infrastructure improvements.

Owners of rental accommodation in Cyprus recently received a boost from online travel agent Lastminute.com.

According to the firm, the number of summer bookings for the island is 32 per cent up on the same time last year.

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