Friday, May 11, 2007

Britons are flocking to Cyprus for property investments.

Britons are flocking to Cyprus to make an Overseas Property investment, an industry expert has revealed.
According to Buy Abroad, Cyprus' property market is "booming" with a "real upsurge" in interest from British buyers.

John Reilly, Buy Abroad's managing director said the country was their most "popular" destination for buyers at the moment, thanks to its similarities with the UK and its entry into Euro currency next year.

"For English people [it is] a very safe place to buy: they have Land Registry system, the same as we do here; everybody speaks English; they drive on the left.

"It's a very good place to either retire to or buy an investment property in."

He also explained that the country's large expatriate community was a big draw for many Britons looking to invest.

"It's a much cheaper place to live and you don't have to learn a new language and you can drive on the left and it's warm all year round," he added.

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