cyprus property to recover strongly
News Posted On: 16 September 2009
There is every reason to believe that the Cyprus property market can come out of the credit crunch, in as good a shape, if not better than it went in to it, it has been claimed.
Les Calvert director of overseas property portal Property Abroad.com said:
"We have every reason to believe that the Cyprus property market will recover quickly as the international economic recovery gathers pace. At the first signs of recovery, and demand growing for overseas property, demand has began to increase for Cyprus property. There is nothing to suggest that this growth should not continue."
Les gave a reason for his strong belief in the Cyprus property market.
"We believe strongly in the Cyprus property market, because we believe that the credit crunch will actually have a benefit. Because so many people lost money on developments that will never be completed, today's buyers are increasingly keen to do their own research. For that reason the problems that Cyprus has had with title deeds needn't stop people from buying in the country."
The Cyprus property market is also to benefit from economic growth, which has been forecast to restart next year by the Finance Minister Charilaos Stavrakis.
Calvert also mentioned Cyprus' new golf courses and proposed 2nd Eurodisney as reasons to believe that Cyprus property has a bright future. He was referring to the 14 new golf courses approved by the government a few months ago, and Walt Disney selecting Cyprus as the site for the second Disney World in Europe.
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