Cyprus: rental market set to soar?

The Cyprus Tourism Organisation believes BTL owners are in for a very profitable year…

The CTO is stepping up efforts to market the Mediterranean island overseas with a new advertising campaign. A spokesperson for the CTO announced: “Cypriot tennis star Marcos Baghdatis will front the marketing drive, which will encompass various media including television, newspapers and billboards.

”The campaign will focus on promoting the island's main attractions, such as its beaches and good weather, to consumers in places such as the UK.

The campaign could prove to be beneficial for owners of rental property in Cyprus, as increased demand for temporary lodgings would put them in line to collect higher returns.

Brits accounted for more than a million of the tourists travelling to Cyprus last year, making it a potentially lucrative market for tourism officials to exploit.

Cypriot president Tassos Papadopoulos recently stated that he wants to ‘increase efforts to promote the Cyprus as a holiday destination abroad”.