Interest in Cyprus properties growing

There is a growing interest among Arab nationals, in particular those from Qatar and Kuwait, in investing in free-hold properties in the Mediterranean Island country of Cyprus.
Giving this information to Gulf Times at Q-Rex 2010 yesterday, Paul Ellinos, representative of Leptos Estates, one of the major international participants at this year’s exhibition, said GCC nationals had invested considerably in the real estate development in Cyprus in the last few years. “They consider their investments in properties not only as a real estate investment but also as an investment being made in a holiday destination,” said Ellinos.
Ellinos said Cyprus being a good holiday destination has always attracted Arabs, and residents of Qatar are no exception.
“Most visitors to Cyprus see it as a safe destination to travel and enjoy their holidays and also as a place to make investments owing to its excellent record as a tourist destination,” he said.
Ellinos felt investments by Arab nationals are made with an eye on increasing returns in future. “Being a tourist destination, the prices of properties in Cyprus has always been going up and it has been evident even in the past two years when there has been a global economic slowdown,” he explained.


Source: (04 March 2010)