Hartlepool, United Kingdom (PressExposure) March 09, 2009 -- While Cyprus property sales may be down, enquiries are not, according to overseas property portal Property Abroad. Julie Liddle, an emerging markets researcher with the portal said:
"Cyprus property was very popular in terms of sales until about 6 months ago. Since then sales of Cyprus property have dropped drastically according to official figures, but surprisingly we haven't seen a drastic drop in enquiries. I have reason to believe that this is down to people trying to negotiate better deals with those marketing Cypriot property, and failing as the financially healthy Cypriot property developers hold firm, at least for a while yet."
Property Abroad have dozens of off plan and resale properties in Cyprus, including the Caesar Resort development offering an incredible 7% net rental yield for the first 3 years.
The Caesar Resort development offers 2 bedroom apartments in Famagusta from Â£34,000. Located in Bogaz, and just a five minute walk from the beach, the obviously resort-style development has an impressive array of leisure and amenities including: an open amphitheatre showing movies in the summer, 2 Swimming pools, a tennis court, a sports court, an Outdoor Jacuzzi, a restaurant and snack bar, a Hair and beauty salon, a gym and much more.
2 bedroom apartments in Famagusta are rented out to holiday makers for between Â£180 and Â£350. So, based on moderate 20 week occupancy at the lowest rate, gross rental yields would be over 10% on a 2 bedroom Caesar apartment. This will likely be more by the time the development is completed, and even more after the guaranteed yield ends (3 years).
Julie Liddle finished: "Resale apartments in Cyprus are currently the most popular, because they are the properties where bartering for a better price is most likely to be successful. Though Cyprus resale property advertisers are currently holding firm, a few months down the line resale property sales will likely pick up as vendors become more flexible with their prices."
About Property Abroad
Property Abroad is rapidly growing into one of the best known, trusted and most successful overseas property portals in the U.K. With a slick dynamic site and very reasonable rates Property Abroad currently has among the most extensive worldwide property listings on the net.
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