Cyprus 'a good place to invest'

Investors may want to transfer money to Cyprus and purchase a home in the country following news that property transfers are on the rise.

In an interview with Easier Travel, director of Overseas Guides Company (OGC) Kim Brown explained that recent figures show improvements are being made in the sector.

The Department of Lands and Surveys released data that revealed 1,316 property transfers were made across Cyprus in June 2011, which is an increase of more than 100 on the previous month.

"This is very good news for the Cyprus property market," Ms Brown stated, adding that previous administrative issues had slowed down the system.

"Sadly, the difficulty in securing title deeds has been a major problem to purchasers of property in Cyprus for far too long with some owners waiting over ten years to receive their title deeds," she explained.

However, the island's interior minister Neoclis Sylikiotis claimed that the figures suggest the possibility of title deeds being issued at a rate of 1,200 per month as time-consuming procedures are removed.

The news may inspire property moguls to consider making a business money transfer so they can invest in the housing market in Cyprus.

Ms Brown claimed that the country has plenty to offer Brits as there is a low crime rate, good weather and many friendly locals who speak English.

"Currently prices of properties are still low following the world recession, so those wanting a new lifestyle should consider securing a wellpriced property in 2011 rather than waiting until next year," the expert added.

When it comes to financing a move abroad, OGC recommends carrying out plenty of research into mortgages if that is how the property purchase is likely to be funded.

Posted by Thomas Smith

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