Property investment > Investment

Demand for resale properties in Cyprus has overtaken interest in new-build homes for the first time in several years, according to BuySell Real Estate.
The company report that an increasingly number of buyer applicants are requesting resale properties, rather than new-build homes, which were previously the most-popular type of real estate on the island.
Litsa Chrisostomou, marketing director at BuySell Real Estate, says: “British buyers in Cyprus have generally been interested in off plan and new-build properties. Now, for a variety of reasons, interest in resale properties has recently increased.
 
“Some buyers are looking for homes to move straight into, rather than wait for a new build to be completed, while others are interested in older properties, where they can take on a renovation project. 
 
“Resale properties also tend to be in established communities with all the necessary facilities and infrastructure in place, which is very attractive to current buyers who don’t want to wait for a new-build community to become established.”
 
The country’s low crime rate, superb climate, relaxed lifestyle and high standard of living have long attracted British buyers. Driving on the left and familiar plugs make Cyprus feel more like home than other European destinations for some buyers.