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Property Investors Set Their Sights on CyprusLondon , 15 March 2007 - Proving that good things really do come in small packages, Cyprus continues to be a firm favourite amongst Britons looking to invest in overseas property, according to Currencies Direct's latest Global Money Movers League Table. The table, released today by the UK's number one non-bank provider of international payment services and commercial foreign exchange is based on the number of foreign exchange transfers undertaken by Currencies Direct in any given month. Cyprus is currently the smallest country listed within the Global Money Movers, yet it consistently appears within the top five most popular destinations. The warm climate, booming tourist industry and its proximity to the UK make it an ideal choice for either a holiday home or an investment property. The bottom half of the table also sees a couple of movements, with Greece re-entering and South Africa in the ascendancy. The below table outlines this month's top ten Global Money Movers, along with a comparison on last month's positions.
"The Cyprus property market has gone from strength to strength since its accession to the EU in 2004 and property prices have risen by as much as 80 per cent in the last five years." says Mark O'Sullivan, head of trading at Currencies Direct. "It is a particularly attractive investment at the moment as the market has grown at a stable rate for a number of years, yet property prices remain competitive. In addition the strength of sterling against the Cypriot pound over the last six months has allowed UK buyers to increase their purchasing power in the country." O'Sullivan continues, "Many buyers are tempted by cheaper prices in Northern Cyprus, and although it is now completely safe to buy there, the political history of the land and complex land title deeds means that investors should err on the side of caution and instruct a well-respected lawyer to ensure the purchase is legal and runs smoothly." *The majority of the Currencies Direct transfers are made by UK residents looking to emigrate or purchase property abroad. About Currencies Direct Currencies Direct is the UK's number one non-bank provider of international payment services and commercial foreign exchange, and was the first in the UK to offer commercial exchange rates to private individuals. Every year Currencies Direct provides thousands of individuals with unbeatable exchange rates for moving money abroad, and whether an individual is transferring savings for a new life in the sun, investing in high value goods or making regular transfers, Currencies Direct can provide a simple, reliable, and cost-effective alternative to high-street banks . By dealing directly with the currency markets, Currencies Direct is able to offer its customers real cost savings, and its credentials are second to none. It also offers customers free transfers (over £5,000), no commission and has a minimum transfer amount of just £2,000. Contact: Alrernatively Email team-a@currenciesdirect.com Have an interesting story? Please email: news@mousemove.com |
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