Insurance News Archive

Expert recommends Cyprus for buy-to-let investors

Cyprus is an option for investors looking for a buy-to-let property, it has been claimed.

A property expert said the west-coast town of Paphos remains popular and is likely to become even more so when its airport is extended and developments, including golf courses and marina, are completed.

Paul Collins, the property editor for Buy Association, said Brits are being tempted to live on the island by its "incredible" landscape and scenery, as well as connections with the UK through army history and a similar legal system.

He said this familiarity is leading to many people choosing to retire in Cyprus.

Mr Collins continued: "It's a great [market] for people that are buying to let out to a tourist market, but also for those that are emigrating or retiring as well."

At present, it is not possible to fly direct to the north of Cyprus and visitors have to take a taxi or hire a car from the south to access it.

However, 4hoteliers reports changing politics and Turkey's possible European Union membership mean the border should soon be opened, leading to an increase in tourism.

27 May 2008