In Cyprus, the property market continues to be a driving force for investors. Property prices have risen here by some 80 percent in the last five years. Many investors still find that property values offer opportunities though. Most believe that similar markets such as Portugal, Italy and Spain do not offer such key rewards.
In the northern areas of the country, there has been a sharp decline in activity as well as demand. According to the financial consultant and former economy minister, Ayse Donmzer, the problem in this area has been the mismanagement of better times.
Currently overseas investors are looking into areas such as Paphos, which is located in the western side of the south coast. Larnaca is another option on the eastern south coast. Finally, Limassol is an option for those in the central region of the south coast.
Additionally and more recently, interest in Polis and Ayia Napa are also options of strict consideration. These areas are more ruled and provide opportunities for investment development. Ayia Napa is well known for its night life.
Bitons still seem to favourite Paphos, which is close to the airport and offers apartment prices in the region of £80,000, and £500,000 for villas that are overlooking the area. Most investors feel that the Cyprus property market will grow through 2008, but at a slower pace than other countries in the area.
