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Cyprus Property Investment News
South Cyprus pulling in UK investors
Searching for inland property in Cyprus could offer great bargains, according to market specialists.
With the island's accessibility improved by cheap daily flights from low-cost airlines such as Monarch, a burgeoning expat community and appealing factors such as driving on the left, more and more Brits are choosing to invest in Cyprus.
Les Calvert, director of Property Abroad, said a wide variety of properties were available, with prices "really moving forward".
Although the traditional coastal regions such as Paphos were still very popular, investors willing to expand their search could pick up a great bargain.
He said: "People looking to buy inland can pick up some definite cheaper properties and obviously the possibility of VAT change on land sales next year should help to push up the housing demand.
"Southern Cyprus is very, very popular…Cyprus is the sunshine isle: 360 days of sunshine a year."
He continued: "So for the last 12 to 18 months, we've had a surge on Cyprus, with all kinds of different properties."
The Cypriot market continues to be profitable, with recent research from Assetz discovering an average 37 per cent return on cash investment.
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