A couple of years ago, Cyprus was one of the world hotspots for buying property.
This promised to continue with the advent of SIPPS and Cyprus being the most likely place to use them, although since the government withdrew these, things on the sunniest island in the Med have been a little flat.
However they look like picking up again as a few properties are now qualifying for interest only mortgages with one of the leading banks in Cyprus. This massively reduces monthly mortgage payments and allows properties to gain a healthy cashflow. To our knowledge, this has been negotiated with just one Cypriot agent and we are working with them.
We think that this will become more widespread and prices will be rising sharply again.
In addition to this, Cyprus are set to join the single currency on 1st Jan 2008 and budget airlines seem to be finally lining Cyprus up as a destination (they have proved it can be done with easyJet now flying to Turkey), both of which should further stimulate demand for property, resulting in more price rises.
We are now selling a limited number of property which qualify for the interest only mortgage.
Please contact us or look on our web site for full details (you will need to register to get access to these pages).
The Property Investment Shop 0800 019 8835 www.thepropertyinvestmentshop.com info@thepropertyinvestmentshop.com Skype: thepropertyinvestmentshop
