Hi Sue,

Forget the short-term holiday market – there are too many properties chasing too few holiday makers; focus on the long-term market (one year or more). Look at apartments in residential areas that are relatively central, not densely developed with apartments, reasonably quiet and close to local amenities such as schools, shops, etc. And avoid buying an apartment in a block with shops on the ground floor. Budget on spending around 175,000 sterling for a 3 bedroom 150 sqm apartment.

I've been contacted by a number of people who are desperate to sell holiday homes. The advertising blurb promised the 14% ROI - the reality is something completely different!

Do not bank on getting more than 4% - 6& gross on your investment. Out of this you'll need to pay communal fees, management fees, breakages, repairs, redecoration, utility bills, etc.

The Bank of Cyprus tightened the purse strings last year in the run-up to the island's adoption of the Euro. The maximum mortgage you can expect from a bank in Cyprus is 60%.

I've only just found this forum & registered. If you need more information about buying property here, Google my name - Nigel Howarth - I'm number 1 in their rankings.

Take care & do a bit more independent research before taking the plunge.

Regards,

Nigel Howarth