Overseas property news - The attraction of cyprus

The attraction of cyprus

As the UK falls into recession and the economic downturn holds the world in its grip, is the love affair between Brits and Cyprus strong enough to survive...?

Cyprus is one holiday destination that Britons have enjoyed visiting for generations. The Mediterranean island certainly offers visitors a number of attractions, not to mention the warmer climate and plentiful beaches. And with proposals to construct 14 new golf courses on the island in place, it seems that reasons to head to Cyprus could be growing.

But Some commentators have suggested that Brighton and Llandudno may be preferred destinations to Lanarca and Ayia Napa this summer as consumers look to scrimp and save.

Paul Collins, property editor at BuyAssociation.co.uk, admitted that it is "difficult to predict" whether the tourism industry in Cyprus will be affected by the downturn, although he suggested that there are a number of factors that gives the island the edge over some of its major Mediterranean competitors.

Strong historical ties

Firstly, the history of the island with the British is strong, Mr Collins stated. "Cyprus has the advantage that it does have a very long history with people visiting from the UK and people living there from the UK," he noted.

"It has a very similar judicial system to English law and it has a lot of other things very similar to the UK; they drive on the left and a lot of the retail and commerce side of things are very similar to the UK as well," he said. But crucially the weather is "much better" than back in Blighty, he added, noting that it is one main reasons why people choose to holiday in Cyprus.

Furthermore, Mr Collins remarked that the similarities in Cypriot law to that of English law means buying a property in the country is "pretty straightforward". He advised overseas property buyers to seek expert professional legal help, but noted that the island benefits from having a "well-established system" in place.

Huge tourism numbers

Additionally, these comments can be backed up by hard facts. For instance, according to the Cyprus Tourist organisation, 1.3 million Brits visit the island each year.

And the Statistical Office of the European Communities has predicted that Cyprus will see the strongest growth in population out of all the EU countries by 2060. It said that the number of people living there in the next 50 years should increase by 66 per cent.

Thus, even though there may be no certainty over the future of any nation during the economic downturn, it seems that the sun is certainly shining favourably on Cyprus.

Source: www.assetz.co.uk

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