I still stand by the idea that resale is the answer to a good property investment in Cyprus. I bought in Cyprus because I had lived there for 20 years, before moving to Norway, and a part of me will always belong there. But I chose to buy in Agia Napa and to buy a resale because the risks are fewer and there are many advantages- resales may come with a clear title deed, will probably have mature and finished landscaping and pool, and so on, and resales are apt to be positioned closer to the sea and town, since much land close to the sea has already been built and newer developments are typically further out or exorbitantly priced. Besides, I didn't have the money for a hugely expensive outlay.

I decided to rent my apartment this spring and adverstised with holidaylettings in the uk. I have found a really first rate manager who takes care of everything on the cyprus side for me- I can really recommend him to anyone who is interested, and he charges just about 150 Cyprus pounds for a year of management- I made that back in my first week's rent. I got something like 40 requests in the first week after I posted my apartment, and ended up renting it for the whole summer to one party, for enough to pay most of my mortgage for the year. Then just yesterday I got a request for 6 months from May to October 2009, which would more than pay my mortgage for the year.

I haven't decided to do about this latest request, since I am thinking of selling the apartment- my son is getting ready to go to college and I could use the lump sum. Still, if I don't get the price I want, I think that renting is not difficult in Cyprus and can pay the mortgage. My advice- don't pay so much for a place that you can't cover the mortgage or that you will be hurting if prices stop rising. Other than that, think about places you would like to be yourself, places you can let easily, and good rental management services.