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Record UK summer drives record property sales in Cyprus

6th November 2006 Print
Post-holiday blues and the UK's longest, hottest summer are making Southern Cyprus the number foreign property hot spot according to experts.

UK based Morpheus Investments, which specialises in property development on the Mediterranean island, recorded its highest volume of sales during October in over a decade. The company sold 90% of its villas at its off plan development in Tersefanou and 25% of its apartments at its Kiti development.

The Met Office says that the five months from May to September 2006 were the warmest since records began in 1659. Dani Maxton, managing director at Morpheus Investments, comments: "We normally receive an influx of enquiries in September when people are returning to work after the holidays and the summer sun starts to fade.

"However, the long, hot summer seems to have caused a later than usual bout of post-holiday blues and delayed property sales. We were still having periods of sunshine in October, broken-up by the wind and rain that you'd expect at this time of year. This has given people more of a taste for the sun and they're opting for foreign properties as an escape route from the typically unpredictable British weather."

According to Maxton, buyers are doing their research and are being lured by Southern Cyprus' all year round sun, good quality of life and the growing availability of low-cost flights to the island. She says: "The vast majority of people buying a holiday home want a place that is within four hours travel time from the UK and cost-effective to get to.

"Cyprus fits this criteria. It is approximately three to four hours from the UK and has excellent international travel links, which will made greater by the addition of two new airports and increase of low-cost airfares. The island boasts the highest number of days sunshine per year at 340 and it is renowned for its high quality of living.

"Customer enquiries and October sales records suggest that these factors as well as the island's vast property investment potential are making Southern Cyprus the British buyer's number one foreign property hot spot."

Morpheus Investments' Tersefanou and Kiti developments will be located close to the Island's forthcoming PGA approved golf course in Tersefanou. The golf course, due to be completed in 2008, will include health and fitness facilities, a six star hotel, shops and banks.

Apartment and villa owners will be able to appreciate a backdrop of rolling hills and access to the region's unspoilt golden beaches.

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