Cyprus villages 'could offer bargain properties'
Overseas property investors have been advised that they could acquire potential bargains if they look at coastal villages in Cyprus.
According to property writer Kevin Moore, an increasing number of people are looking at these areas because they are cheaper than the major holiday resorts. However, many were said to still be close by, allowing tenants, tourists and holiday home owners access to modern amenities.
Furthermore, he stated that since development in Cyprus was continuing all the time, properties in coastal villages were likely to increase in value "considerably". Mr Moore commented: "As more and more property has been built in Cyprus close to the main resorts developers are starting to look further afield."
He added that there were lots of unspoilt villages in the immediate vicinity of larger towns. This follows the publication of figures in the Financial Mirror which showed that in the year to June 2007, revenue generated by the tourist sector in Cyprus went up by 3.2 per cent.