03 October 2005

The Cyprus property boom

The property investment boom in Cyprus is experiencing a sharp slowdown to let prices on the island achieve parity with equivalent property in Spain.
The sudden change has been revealed by a property survey in the Financial Mirror, Cyprus's leading business and finance newspaper.

Rather than exploring new and less stable markets however, the majority of property development seems to be returning to the traditional Costas.

Property investment is primarily leaking back towards Spain, suggesting that the strength of the economy and infrastructure is the most important factor in jet to let investment decisions rather than seeking out, low prices at any cost in less stable east European markets.

Full article.

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