In news which may be of interest to first time buyers looking to invest abroad, Southern Cyprus' property market is currently enjoying a strong period of growth, it has emerged. According to Les Calvert from Property Abroad, not only are property prices currently growing at a robust rate, but the market is set to expand as property investors - which may include first time buyers - look beyond the usual locations. ...

The property boom in Cyprus continues apace, with the south seeing plenty of demand from those keen to invest in property, both as residents or in the buy-to-let sector. According to Les Calvert, director of property website Property Abroad, the country has all the attractions that Spain and other countries once had, but these now exist in far greater quantity and quality on the Mediterranean island....

The property market in Cyprus is 'booming' thanks to a growing ex-pat community, according to new claims from a property export. Les Calvert, director of overseas real estate firm Property Abroad, claims that prices are increasing year-on-year for coastal properties, while inland houses can offer some cheaper investments. Furthermore, demand for residential housing from UK investors could be set to jump higher because of the possibility of favourable changes to the VAT charged on land sales, Mr Calvert remarked. Explaining the current popularity boom, he said: 'People are fed up and they've had enough of Spain - they're looking further afield now but with the same sort of ex-pat community that Spain used to offer.' ...

Cyprus President Tassos Papadopoulos said on Saturday that the government was discussing with Britain the issue of developing properties in the areas west of Limassol, noting that many problems were arising regarding the conditions of this exploitation. Speaking upon his return from an official visit to Slovenia and commenting on press reports that London had sent a draft plan to Nicosia regarding the construction development of the area west of Limassol, mainly Akrotiri, excluding the British Sovereign Base Areas, Papadopoulos said this issue was being discussed with the British for some time now. “There are many aspects. It is not just a matter of developing properties. Many other issues arise regarding the conditions of this exploitation, which regime, tax or other, it will come under, and other problems,” he pointed out, adding that it was not the right time to go into details. Asked if London’s draft plan, which has been sent to the Ministry of Foreign Affairs, will be examined, the President said, “we have been discussing this issue with the British in bilateral talks for some time now.” Asked why Akrotiri was chosen and not Dhekelia, Papadopoulos said, “it is not us speaking about the Akrotiri area” and that “this is how the issue is being presented.” ...

ESTATE agents and property specialists have said that the predicted collapse of the Spanish housing market will not affect Cyprus. Paris Zachariades, Executive President of Century 21, a global player in the real estate network, yesterday told the Mail that the market in Cyprus was still on an upward trend due to low interest rates. “Our economy is strong and we are attracting more buyers from foreign markets, not historically linked to us,” he said. “Things may change in the long-run after we join the euro zone, but at the moment, I don’t believe that what’s happening in Spain will affect Cyprus.” ...

Residential house price inflation in Cyprus has accelerated, rising by 9.9% compared with the year earlier in March, having risen by 9.4% in February according to the BuySell Home Price Index prepared by MFC S. Platis. This marks the sixth consecutive month of a rise in year-on-year prices. If it continues at this pace, house prices will record a faster rise in 2007 than in 2006, when the BuySell Index recorded an increase of 6.6%. Compared with the previous month, home sale prices in March rose by 0.8% compared with February. ...

Cyprus real estate is a great investment right now with prices of holiday homes on the Island continuing to rise. There doesn't appear to be any slowdown in the demand and it looks like it will be so for the foreseeable future too. Savvy investors and buyers of holiday homes alike are making their move no before prices leave them behind. Many people still moan about how they 'missed the boat' in Spain where they are now well and truly priced out of the property market. With Cyprus being so English both in culture and as a spoken language it should continue to attract buyers for a long time into the future before the market shows any signs of peaking out. ...

Colonial links with the UK make Cyprus a popular choice for British investors when seeking property abroad for a second home or for a safe investment opportunity. The southern shores of Cyprus are being favoured over the ever popular locations of France and in some cases Spain say Principal International, a leading overseas property investment company. With English being widely spoken on the Island and tourism numbers growing every year, numbers are expected to double in 2007, Cyprus is a mature market offering property that is still cheaper to buy than in the UK. ...

Although foreign property firms have been underlining the benefits of northern Cyprus as a property investment destination recently, there remain plenty of reasons to invest in the south of the country, it has been claimed. Overseas property investment company Principal International said that many Brits preferred the south of Cyprus even to France and sometimes to Spain when it came to buying homes abroad. The firm predicts that the number of British investors in the country will double in 2007 thanks to English being widely spoken on the island and tourism numbers growing each year. ...

'A buy-to-let investment in Cyprus is still a great venture,' explained Mr Figgins. 'With tourism booming and the reputation Cyprus has for attracting repeat and loyal visitors, rental demand continues to outstrip supply.' The full adoption of the euro in 2008 is also set to see more investment on the island, which has the top tourist destinations of Paphos, Larnaca and Limassol. ...