Cyprus Identified as 2007 Summer Hotspot

The Cyprus property market will be one of the top places to buy real estate this summer, according to Rightmove.com…

With continued tourism demand keeping the market healthy for buy-to-let investors and buoyant house prices prices, Cyprus is the place to be this summer.

Rental investments are currently offering healthy returns to buyers and the island’s planned adoption of the euro in January 2008 is expected to further enhance its attractiveness in the eyes of investors.

An "extraordinary quality of life" is on offer on the island, the site states, with a Mediterranean climate and a relatively low cost of living.

Areas to look out for within the Cyprus property market, some of the island’s most popular destinations, include Paphos, Larnaca and Limassol.

Justin Figgis of Rightmove commented:

"A buy to let investment in Cyprus is still a great venture. With tourism booming and the reputation Cyprus has for attracting repeat and loyal visitors, rental demand continues to outstrip supply."

The site offered a number of destinations that it expects to perform well this year, including Morocco, Dubai, Hungary and the Caribbean.