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Cyprus Property Investment News
UK buyers to invest by Cyprus coast
Coastal resorts in Cyprus have been tipped to become increasingly popular with overseas property investors from the UK.
British newspaper the Telegraph stated that plans to build new tourist facilities in places such as Limassol had been proposed in order to attract more people.
This could have a knock-on effect on demand for property in the region, as rental accommodation may become highly sought after on the island, which is already a tourist hotspot for Britons.
The newspaper said: "A million tourists visit every year, attracted by its year-round warm climate and as a former British colony, by its similarities to home."
Capital city Nicosia was also said to be popular with Britons, with the Telegraph describing it as a "fashionable" and "cosmopolitan" city with a strong English flavour.
The Foreign Property Buyer website recently predicted that the annual rate of house price inflation on the island would rise from 20 to 30 per cent as soon as it joined the euro next year.
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