Investors and tourists turn to Cyprus
Cyprus is emerging as a tourist hotspot which could prove a lucrative area for property investors.
Traditionally popular with expatriate Britons, even offering the familiar pound albeit in Cypriot form, the former colony is now starting to translate its appeal into property opportunities.
Hetal Shah, director of Investors Provident, says there is a discernible trend among visitors looking to come to the island.
"Tourists numbers are low but they're growing year on year," he revealed.
In addition there is a growing interest in the north of the island, around an hour's drive from the south, with those visiting finding what Mr Shah said was a "very different place, a different atmosphere altogether".
It is this more relaxed Cypriot experience which is attracting property investors and those looking to settle down abroad.
"The north has been attractive to the over-50s, who actually want to retire there. Because itÔÇÖs just very calm and peaceful, itÔÇÖs tranquil," he added.
Investors eyeing up Cyprus' potential will also have been heartened by news emerging last week that Monarch Airlines is offering new flights between Luton and Larnaca.
With flight prices falling, some are anticipating a rise in buy-to-let opportunities, adding to the potential highlighted by an 8% average rise per year in property prices in the last decade.
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