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The Cypriot Property Market

Nov 10. 2017

Whilst property sales in Cyprus were at their peak in 2007, with over 50% of the buyers being from overseas, it has of course been well documented that subsequent years saw a very profound drop in sales as Cyprus under went a significant period of financial turmoil.

However, the property market in more recent times is beginning to gain a little more momentum as the country’s economy starts to rebuild itself. The discovery of oil and gas fields off the coast are bolstering the economy. Improved exchange rates for British buyers, in recent years, may also prove to lure Brits back to the Cyprus property market.

Encouragingly, more recent years have also seen an increase in residential construction permits; indicating an increase in confidence amongst property developers. Cyprus has already benefitted from the development of the marina in Limassol, as well as Tiffany Gardens and the appealing Akamas Bay Villas.

Classic Cypriot properties are characterised by white plaster, with stone features and wooden balconies. The climate dictates that the majority of properties tends to have both air-conditioning and open fires/ central heating. The country also imposes strict rules on earthquake proofing properties.

Burke Bros Moving Group have become specialists in the removal of household contents and vehicles to and from Cyprus over a number of years. We have longstanding strong partnerships with highly reputable and experienced agents in Cyprus. Please don’t hesitate to contact us for any further information on our regular services in and out of the country on 01902 714555 or by email at sales@burkebros.co.uk.

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