Brits are still moving to cyprus
Agents were afraid that existing homeowners would sell up to leave Cyprus following the banking crisis this, while new buyers would be deterred, but one agent has told Cyprus Property News that Brits are still moving there. Indeed, in the tourist and holiday home favourite of Paphos, more Brits have arrived in recent months than have left.
“Previously our ratio of people of all nationalities leaving Cyprus to those coming here to live was about 80/20,” Peter Morton Removals told the publication. “This year, this figure has now changed to about 50/50 and most of them are British.”
Rental experts 123-asap also reported a steady flow of Brits arriving in the south-east of the island.
“We have all sorts of people looking for homes. They have moved here from the UK and are interested various types of properties, from the villages to the Tomb of the Kings road.”
Morton, meanwhile, has seen demand increase by so much that they have had to hire two new staff members to deal with the workload.
“People only know about their friends who are leaving, obviously they don’t know about the hundreds arriving from the UK.”
Other moving and relocation news this week:
British expats have it worst abroad
British expats have it worse abroad than at home, according to a new Post Office survey. The study found that household bills and the costs for motoring and eating out had risen by an average 8 per cent for expats.
Two in five said that living costs had risen even higher, with costs up by over 10 per cent. Expats and Portugal and Greece led the increases, with Portuguese residents facing a rise of over 20 per cent for essential household expenses. Brits in Greece, on the other hand, suffered a rise in living costs of over 10 percent in the last 12 months.
St Kitts citizenship scheme boosts Middle East interest
St. Kitts’ citizenship scheme has boosted interest from Middle East buyers, according to property developers. Ever since the Arab Spring, investors have looked to overseas property as a reliable place to put their assets, with St. Kitts attracting attention thanks to its citizenship scheme, which offers visa-free travel to the Schengen area.
“The number of investors from the region has doubled in the last years for such ‘global citizen’ programmes,” Mr Arton told The National, predicting that more than 10,000 families per year will take advantage of similar schemes by 2015.