OFFPLAN NEWS

(07.06.2007 )
Cypriot properties Cyprus, France and Spain top November overseas interest

British property investors continue to opt for the old favourite locations of Cyprus real estate, France and Spain to invest their cash, according to new research.
The three European nations, old friends of British holiday-home seekers, beat off stiff competition from emerging markets in the Eastern Bloc to become the three top countries for currency enquiries to foreign exchange firm HIFX.
In the company's monthly survey of global property hotspots, Cyprus, France and Spain made up over half of all its currency transactions last month.
Mark Bodega, marketing director of currency specialists HiFX, commented: "Despite a fair amount of dabbling by investors in some more exotic locations, old time favourites Cyprus, France and Spain are still the first choice for British buyers looking for a holiday home or retirement home.
"With the markets in these countries having slowed down over the last 12 months, we are seeing some really good bargains coming up and it seems that many canny Brits have also spotted this and are beginning to return to these traditional overseas markets in increasing numbers."
Although he admitted that the markets in these countries – especially Spain – had cooled of late, Mr Bodega said that traditionalists were now looking at "lesser known costas and inland amongst the olive groves", as opposed to eastern Europe.
Indeed previously touted hotspots Bulgaria, Turkey and Morocco actually saw their proportions of currency enquiries decrease in November, while those in Cape Verde and Dubai remained the same as the previous month.
In a statement, HIFX said that although quick returns can be attained in emerging markets, investors "should be careful as the fad of these countries could disappear just as quickly as they have appeared".
The monthly decline of interest in the emerging markets may be linked to homeowners' increasing affordability constraints due to the recent rise in interest rates, causing overseas property to bank on the more stable markets of Cyprus, France and Spain.
With an array of regular cheap flights to a comprehensive list of destinations, Brits are turning to these countries due to the ease of access and the security of stable house price inflation.
Furthermore, houses in Cyprus, France and Spain are much easier to rent due to their inherently strong tourist markets and high regard among UK residents.
The large ex-pat community in these countries means that settling in is not too much of a culture shock for retirees, who make up a large proportion of the overseas property market.

News by Country

»(07.06.2007 ) Property in Cyprus From Offshore to Retirement, Cyprus
There is a growing number of Europeans near the age of retirement, looking for sunny and affordable places to pass their golden years.... » find out more

»(07.06.2007 ) Property in Cyprus Cyprus: Britain to warn of risks in property purchases in north
The British government has warned its citizens of the risks in purchasing property Cyprus in the Turkish occupied areas due to the non-recognition of the regime in the north. ... » find out more

»(07.06.2007 ) Property Cyprus Cyprus: Leptos in talks to buy out Aristo
Two of the island’s biggest developers of Cyprus apartment for sale are in negotiations over a possible takeover. ... » find out more

»(07.06.2007 ) Cyprus property Rental ROI in Cyprus is 6.3%
With Cyprus earmarked as one of the investment hotspots for 2007, leading ‘for rent by owner’ holiday home site, surveyed its owners in order to quantify the actual rental return on investment potential buyers of Cypriot properties land for ... » find out more

»(07.06.2007 ) Cypriot properties Cyprus, France and Spain top November overseas interest
British property investors continue to opt for the old favourite locations of Cyprus real estate, France and Spain to invest their cash, according to new research. ... » find out more

»(07.06.2007 ) Cypriot property Expected boom in Cyprus Property for 2006-2008
After EU accession, real estate in Cyprus is no longer just another tourist destination offering sandy beaches and fun.... » find out more

»(07.06.2007 ) Cypriot real estate Mentor for Cyprus
Nigel Howarth says the warmth and generosity of the Cypriot people, the abundant choice of superb sea apartment Cyprus and the island's relaxed way of life makes the country a popular choice for expats.... » find out more

»(07.06.2007 ) Cyprus real estate Cyprus property set to gain from UK pension change
An expected rise in second-home Cypriot properties market following changes to the UK pensions system has prompted the establishment of a new company in Cyprus. ... » find out more

»(07.06.2007 ) Real estate in Cyprus Cyprus tipped for property boom
Investment in Cypriot Property is becoming increasingly appealing to investors worldwide, with economic conditions now improving at an impressive rate and the prospective adoption of the Euro drawing record interest from foreign investors. ... » find out more

»(07.06.2007 ) Real estate Cyprus Hot Property in Cyprus
The island of Cyprus, full of excellent real estate Cyprus has long been a popular year round holiday destination.... » find out more