Property Investment News From Buy Into Cyprus

Banks to bricks - canny investors choose hot property
Wed 22nd Oct 08 - 10:30

Risky financial investments and banking, a stagnant property market and bad weather are all contributing to a surge in the number of Brits gearing up to buy abroad.

A recent survey revealed eight million UK citizens now own overseas property. The number of Brits moving abroad has rocketed by 50% in the last ten years.

Derek Hatton of BuyIntoCyprus.com a property investment company in southern Cyprus, said:

“We’ve noticed an increase in the number of people buying second homes in Cyprus as the housing market in the UK continues to slow. Many customers are telling us they’d rather take their money out of the bank and invest in bricks and mortar.

“Cyprus is increasingly popular with those emigrating away from the UK. The low crime rate, long dry summers and low cost of living, are just a few of the reasons people choose this country.

Hatton continues:

“We’re also seeing a rise in enquiries from first time buyers. The current housing market in Britain is impossible for potential home owners, coupled with the fact that mortgages are becoming rarer, so buyers are looking further a field.”

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