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CYPRUS FOR UNDER £50K

With so many emerging markets it is not difficult to find cheap properties if one wants to take a chance on a ‘new’ country that is not part of the European Union.

However, when one hears of a property that is under £50,000 in a holiday hotspot and is a full member of the EU then should alarm bells be ringing or are other properties vastly inflated?

Cyprus is an island that is renowned as a holiday destination particularly amongst the British. This love affair with Cyprus dates back many years and the underlying truth is that its popularity amongst the British has actually led to property prices increasing year on year. With so many British expats now settled in Cyprus it is for some a home away from home.

Cyprus has consistently achieved up to 10% capital appreciation each year. Now with EU accession and subsequent EU grants and funding available property prices will continue to rise in the same rich vein and more and more luxury developments will come on to the market.

With this in mind Antonis Loizou & Associates now brings to the market a one bedroom apartment in the Pernera area. Ideally located it is within walking distance of many local amenities and traditional Cypriot life, and it is also only a five minute drive to Protaras and Paralimni. This apartment is situated in a small block of one and two bedroom apartments and provides spacious open plan living accommodation consisting of lounge, dining room and kitchen. With a good size master bedroom, separate bathroom, air conditioning and car parking space this apartment offers a number of uses, holiday home, permanent residence or ideal for the rental market. At a price of only £42,000 it is not likely to be on the market for long.

Peter Christofi Overseas Marketing Manager of Antonis Loizou & Associates says, “This truly represents a remarkable price tag especially in the burgeoning property market we find ourselves in the midst of. This apartment would be suitable for a whole host of people but would in my mind be ideal for a young person from the UK who has struggled to get on to the inflated property market there. For probably in the region of £100,000 less they can enjoy the same sized property here in the Cypriot sunshine. Whether they use it for a holiday home or permanent residence really makes no difference, the important thing is that they are on a rising market that is paying big dividends to owners and this sort of investment could be the answer to many young people’s problems in the UK. Property prices in Cyprus are not over inflated, there is a strong demand here and as this demand continues, one only has to look at the airports of Larnaca and Paphos to see how Cyprus is gearing up to meet the demands of more tourists, this will lead to further property price increases.”

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UK FREEPHONE 0800 032 6203
INTERNATIONAL 00 357 25 871 552

Antonis Loizou & Associates market properties in Cyprus to cater for all budgets and desires starting from £45,000 up to the higher end of the market at over £1 million. As the largest estate agents in Cyprus with over 26 years experience you are assured of peace of mind with their English speaking agents and attention to detail at all times.