Cyprus Property Sales to Foreigners Increasing

Foreign buys of property in Cyprus saw a shock increase last month, up from 117 the month before to 158.

This is not the first time sales have risen on the month, nor is it the highest number of monthly sales this year, but what is significant is the size of the increase at this time of year when sales traditionally slide off.

It is highly unlikely to be a pure coincidence that this rise in sales against the season comes as the government and Cypriot legal institutions have been working hard to resolve the problems over Cyprus title deeds and have begun to make some headway. Firstly with Cypriot lawyers revealing how buyers could cut out the middleman and get their own deeds from the land registry, and more recently with the Cypriot government enacting legislation to allow them to do this without going through the courts.

It is also no coincidence that Cyprus should start to benefit from the recent increases in British demand for overseas property.

Cyprus has been named as the site of the second Euro Disney world, which will boost tourism to the region surrounding the chosen site massively.

The Cyprus government also gave permission to build 14 new golf courses on the island; permission was granted last year and construction has started on one of the courses. Golf represents a massive portion of why Brits choose Cyprus property and new courses can only boost tourism and the property market.

View property for sale in Cyprus

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Top 10 most Popular Overseas Property Destinations in September

The latest edition of Property Abroad’s monthly top of the props has shown what a lot of industry data has shown in recent months; that buyers are increasingly favouring established markets. In September there was increases in popularity for Spain, Portugal, Greece and Germany.

Firstly, America continues to hold 1st place. Spain regained the second position it lost to France in August, France slipped back one into the 3rd place Spain held in August.

Turkey lost 4th place to Greece, which rose 1 place from being 5th most popular in August. Turkey slipped back to sixth place, with Portugal cheekily snatching 5th having held 7th last month.

Italy slipped back one place from 6th in August to 7th in September, possibly on reports that Italian property prices still have some room to fall.

Germany entered the chart in 8th place. This is most likely because Germany represents the pinnacle of a safe, stable established market. German property values have held throughout the crunch. This also reflects investors move toward buying based on rental income rather than capital growth.

Unfortunately for Cyprus, Germany’s entry into the chart knocked it back one place into 9th position. Egypt, also a new entry into the chart took 10th place. Australia, a new entry in 9th position last month was knocked back out again.

The top 10 most popular countries with those searching for overseas property on the Property Abroad.com portal in September were:

America
Spain
France
Greece
Portugal
Turkey
Italy
Germany
Cyprus
Egypt

And last month:

America
France
Spain
Turkey
Greece
Italy
Portugal
Cyprus
Australia
Germany

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Property Abroad group relaunches yet another satellite site

The Property Abroad Group have relaunched yet another one of their popular property satellite sites aimed at making the overseas property buyers search more specific to the areas of their choice.

The group who own hundreds of property related websites have embarked on a 3 year programme to redesign and relaunch many of their overseas property websites and have already made headway with the relaunch of sites like:

a property in bulgaria
a property in cyprus
a property in portugal
buying property in france
buying property in italy
buying a property in spain
buying property in turkey
investment property abroad
buying property abroad
sell my property

These come only 6 weeks after the group relaunched its flagship website www.property-abroad.com after 10 months of development and design work.

The group now also features a white-label product that allows other companies to feature the groups properties on their own website and it pays commissions on every lead generated. They also have a web services product for the more active development sites.

Our plans for 2009/10 is to relaunch the entire groups sites including its rental portfolio of property rental sites including the rent a villa abroad website which is undergoing a complete redevelopment.

For more details on the group visit their website property abroad.

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Property Abroad.com top 10 overseas property destinations for may 2009

Overseas property portal Property Abroad has revealed the top ten most popular countries for May, and though many of the results may surprise many people, one explanation accounts for them all according to Julie Liddle the portal's emerging trends analyst.

The fact that Spain and America remained in first and second position will come as a surprise to very few people.

Greece and France taking third and fourth positions is a big shock however, especially given that they were in eighth and ninth positions respectively last month. This is a sign that the lifestyle buyers, who have been waiting to see how far prices will fall, are coming back into the market, according to Julie Liddle.

"France taking fourth place from Portugal, and Greece taking third position from Turkey, is a sign that the pent-up demand that myself and many analysts believed existed for the higher end overseas properties in established markets was real, and is starting to be released now as the Pound strengthens against the Euro," she said.

Another semi surprise: Cyprus climbed two places to steal fifth position, which was held by Italy last month. This is also because the lifestyle buyers, who have been waiting for a stronger Pound, are coming back into the market, according to Liddle.

"Cyprus property again, was mainly being bought by lifestyle buyers, and its rising popularity now further enhances my belief that the Lifestyle buyers who were hanging back waiting for the Pound to strengthen, and see how far Eurozone properties were going to fall in value, are now coming back out with a vengeance," Julie said.
Turkey fell back to sixth from fourth last month, Italy seventh from fifth last month, Portugal dropped back an incredible five places to be eighth most popular in May, and Egypt gained one place to take ninth position in May.

The final shock came in Canada re-entering the Chart in 10th spot. Canada hasn't been in the top 10 since the first quarter of 2008. Julie put forward a possible reason for Canada re-entering the chart.

"This is another sign that the pent-up demand is being released. Canada property prices were falling, and there have currently been reports that the market is close to bottom. Those waiting to see how far prices would fall, are now getting in and seeing what kind of bargains they can get," she said.

The full results of the top 10 for May are as follows:

Spain
America
Greece
France
Cyprus
Turkey
Italy
Portugal
Egypt
Canada

Compared to Last Month's:

Spain
America
Greece
France
Cyprus
Turkey
Italy
Portugal
Egypt
Canada

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