Interesting article but short on real facts. True, if a real cheap airline with lower fairs entered the market and underut the other airlines, fares may fall a little. The reality is Monarchs current prices are fairly in line with existing carriers.

It's lower 'fares' not 'fairs' we seek!!!! Sorry for the spelling!! Pete

with the secondary market being relatively young in cyprus has anyone got any advice / experience in valuing property. Also value any advice on mortgages on secondary market properties. thanks in advance

with the secondary market being relatively young in cyprus has anyone got any advice / experience in valuing property. Also value any advice on mortgages on secondary market properties. thanks in advance

Pete is correct. If you look at the peak time prices for Monarch there is not a lot of difference between them and the current carriers. Still, it will probably filter through as lower fares as competition increases on the less busy weeks and airlines try to fill seats. We need Easyjet to really set the cat amongst the pigeons. Peter

In terms of the low fare carriers, I am informed by one of my contacts in Cyprus that Ryanair are due to announce direct flights to Cyprus from the UK. I was also informed that 100% mortgages are now available through some of the bigger agents. Back to the article: It needs to be contrasted with opposing opinion from Amberlamb, which suggests that it is the North of Cyprus that is set to really take off this year, and the South will be flat in comparison. PS has maintained that the North should not be considered for investment purposes, and in the past there were valid reasons. However there is strong speculation that Ercan airport in the North may be opened to Cyprus Turkish Airlines to fly to the UK, as part of a package of measures that will also see Turkey opening its ports and airports to Greek Cypriot traffic. There is also a land compensation scheme for Cypriots in the South to be compensated for the loss of land in the North, which may overcome the disputes over title if purchasing in the North. Obviously more digging required, but I'd like to hear more on this subject over the coming months.

Hi Pete B A little unfair to say this is 'short on real facts', surely? It's how we interpret these facts, that you take issue with, isn't it? I think you're right and it's true that so-called low-cost carriers are not always so very cheap; but they do force other airlines to cut fares, as we've seen on so many routes. Is Monarch really a low-cost carrier? Well, it's certainly marketing itself as such, so if it proves not to be, it's not going to pick up much market share! But there are two pluses here, I believe. First, Monarch is coming in as a low-cost carrier and talking about 'a cartel' operated on this route by the two airlines it will be competing with. If Monarch doesn't beat them on fares, the route will not work for them and they know that. So, they clearly intend, on the whole, to win on fares. Second, other low-cost carriers will almost certainly follow suit if this route proves a success for Monarch. This has proved to be the case all over Europe: one airline (usually Ryanair, in the past), pioneers a route and others then pile in. So, while this may not be a decisive annoucement for the Cyrpus tourist and property market, it is certainly good news. Cheers

What interests me more than cheap flights is the report by the International Monetary Fund in Nov 06 on the huge progress EU Cyprus has made with their Debt Control, finance/banking management and growth in economy. The IMF think that Cyprus has laid strong foundations and is well placed to be a strong force in future years on all these counts and predicts good growth in the economy. The one thing that does concern the IMF is that the Property market might explode as it has done in the UK if they don't keep control of the Mortgage sector and the Banking Sector has set up controls to do just that apparently - not sure if this is good news for the Property Investor or not?!! Jo

Although if the Lorry Drivers continue their strikes blocking the Ports which has already lasted 5 days (no goods in or out of the Ports) then Cyprus won't have much of an Economy left - it has already made a big dent in the Economy!

I strongly believe that North Cyprus is the best place to invest in right now and will boom in the next 2 years. There is a wide variety of choice of property, beach front, town apartments, villas, all very good prices. The land dispute is not an issue if you buy land that is Turkish Title (pre 1974) or Exchange land, where land from the South has been exchanged for land in the North with displaced Cypriots. There are Agents now offering mortgages on developments they are selling at 5% interest. There are several huge International Hotel Resorts being built along the sea front, an 18 hole Champion golf Course has just been finished near Esentepe. Also, the Americans are pushing for Ercan to be an International Airport. There is a very large portion of British Retirees (about 60% I was told), everyone speaks English, you can buy anything you like with British Pounds in the shops and supermarkets, even property is bought in GB pounds so there is no problem with exchange rates. It is important to do your research to get the best land, property, Agent and Solicitor. I researched Cyprus for a year, came over in July and bought property. I have a 4 bed new villa with a large swimming pool, in the mountains with spectacular sea and mountain views from every window, all that for £118,000 plus property tax. I live here in the winter where it rarely goes below 50 Deg.F. days are sunny and warm and nights are cooler. There is a lot of negative propaganda spread by the South. You really need to come ans see for yourself and do your own research. I believe it is a great opportunity! You can ask me any questions you like in this forum.

Paul, Gaining valuations on re-sale as far as the South East of Cyprus is still quite hit and miss- you probably have it already, but I found a subscription to Buysell.com is a helpful start. Looking around the area a few weeks ago, the re-sale market does seem between 15 and 20% lower priced than off plan which is building very quickly at the moment - making for a competitive selling market. There is a lot of talk of the finite land, impact of Euro and VAT, but at this point - their seems to be limited impact on re-sale value as far as I could see. Interesting comments in the post on entrance of low cost carriers - would love to hear more from the contact of Ryannair and how reliable this is - there are restrictions of distance their current fleet are capable of which I understand is a constraint for them at present.