CYPRUS PROPERTY WORLD
MAY 2008 NEWSLETTER
The month of May in Cyprus is just about as near to perfection as you can get. Average temperatures are around 22ºC, the nights are already balmy and there are festivals to celebrate the arrival of spring taking place around the island.
This first newsletter from Cyprus Property World contains both the latest Cyprus property news and gives you an idea of what's going on at this time of year on Aphrodite's island. Of course we can't include everything that's going on - there's so much - but over the coming months we'll try and choose a few things that we think might be of interest. So for May, we've got news of the Cyprus Car Rally and the European Dance Festival, both of which are held in Limassol in May.
We'll tell you when and where you can celebrate and enjoy the May Flower Festivals and we'll be featuring some very special properties - two of them are great bargains and one a luxury golf property - which are for sale on this beautiful island.
Cyprus Property - Home from Home
A great investment doesn't always have to be a financial one and one of the best investments you can make is in your future and that of your family. If you're thinking of living in Cyprus for all or part of the year, why not subscribe to our monthly newsletter where we tell you what's going on across the island and how to enjoy it at its best.
There'll also be plenty of useful information about Cyprus so if there's anything you'd like to see in our newsletter, just drop us a line on info@cypruspropertyworld.com and we'll do our best to include it.
Here are some of our really great deals and special featured properties for May.
FEATURED PROPERTIES
BEAUTIFUL THREE-BEDROOM VILLA IN OROKLINI, LARNACA
This amazing villa has recently been reduced in price to less than CYP 200,000 (EURO 335,000).
The price includes all white goods and fixtures and fittings.
Why not bag a bargain while you can?
This house is just three years old and is part of a small complex, built by a reputable builder. The built area is 240m2 on a medium sized plot and it has its own 6x3m swimming pool. There are three bedrooms and the master bedroom has an en-suite bathroom. There's a beautiful luxury modern kitchen with a convenient utility area and a spacious, light living and dining area with contemporary furniture from a well-known franchise, all of which is included in the price. The property also has covered parking and ample space for a second car in the driveway. This property must be seen to be appreciated!
Click Here to view this Property in Larnaca
PRICE REDUCED FROM CYP 215,000 (EURO 368,118) TO AN AMAZING CYP 196,066 (EUR 335,000)!
AMAZING VILLA FOR UNDER EURO 200,000!!!!
Here's another bargain for you! This villa is the perfect solution for a couple or a small family who want to enjoy the beauty of Cyprus and be close to Paphos town. It's a modern, two-bedroom villa which enjoys a privileged, elevated location with stunning mountain, valley and sea views. The villas have been thoughtfully designed and have natural stone finishes and spacious terraces. You will also be the proud owner of a luxurious Italian fitted kitchen, enjoy a stone fireplace in the spacious living area and have private off-road parking. Find out more before someone snaps this up!
Click Here to view this Property in Paphos
Cyprus Property News
So, what's the Cyprus property market like at the moment? While no-one can deny that the worldwide credit crunch has well and truly taken hold, the Cyprus market is proving pretty resilient.
Although the UK's Royal Institute of Chartered Surveyors (RICS) 2007 European Housing Review reported an overall slowing of Europe's housing markets, Cyprus was the exception to the rule.
The country experienced a significant price acceleration during 2007, mainly due to the anticipation of joining the Euro at the beginning of 2008 and the resulting increased foreign investment.
This positive trend has continued into 2008 with the Cyprus-based BuySell Home Price Index recording increases of 3.3 per cent from January to March.
These rises are partly due to interest both from buyers within Cyprus - thanks to the booming Cypriot economy - and buyers from Russia and Eastern Europe, who are looking to Cyprus for a solid investment.
Cyprus Property - the future
So what of the future? The Cyprus property market has always offered the great combination of stability and increased growth and these recent figures show that the market is holding its own, even in the face of an almost universal European property market downturn. The vibrant Cyprus economy also makes the country attractive to investors. At the end of April, the European Commission's spring forecast revealed in their projections that the Cypriot economy should grow by around 3.7 per cent, more than double the Euro zone average. Add to this the commitment of the Cyprus Tourism Organisation (CTO) to improve tourism facilities across the island, particularly marinas and golf course developments, and you have all the ingredients for a perfect investment environment.
What's On in May
If you're visiting Cyprus or living her for all or part of the year, here are a few things that are happening in May which you might find interesting. There's plenty more information on the website of the Cyprus Tourism Organisation (CTO) www.visitcyprus.com
The Cyprus Car Rally (16th - 18th May, Limassol)
One of the world's most exciting motor sports events, the Cyprus Car Rally is based around the coastal resort of Limassol and attracts some of the world's best rally drivers who enjoy the challenge of driving on the island's mountain tracks. Among them is the 2007 champion of Middle East Rally Championship (MERC), Nasser Saleh Al Attiya.
For those of you lucky enough to be in Cyprus on these dates and who want to be part of the action, visit the official rally website at www.cyprusrally.com.cy and find out more. The ceremonial start to the rally takes place on the evening of 15th May, the day before competitive action begins early on Saturday 16th May. There are stops for services around midday and later in the afternoon. The second day (Sunday 17th) follows a similar pattern with a prize-giving ceremony in the late afternoon or early evening. Spectators can watch events from the service park on Limassol's beautiful seafront or from any of the individual special stages over the two-day period.
The stages depend on the rally schedule and you can get more information by visiting www.cyprusrally.com.cy. Entry is free although you may have to pay for specially laid on buses which will take you to the various stages. You can also buy an official Cyprus Rally programme from bookshops, kiosks and newsagents in Cyprus which will give you information about the routes, drivers, the teams and much more. Enjoy!
European Dance Festival (1st - 30th May, Limassol)
Perhaps a little less frenetic, but no less energetic, is the European Dance Festival which will also take place in Limassol from 1st to 30th May. The festival is one of the highlights of the European arts and culture scene and involves dancers from more than a dozen European countries. Now in its eleventh year, it's an extravaganza of contemporary dance with performances at the Rialto Theatre in Limassol and workshops at the Limassol Municipal Dance Centre. Those interested in contemporary dance shouldn't miss the innovative performances and unique choreography, all influenced by European dance traditions. The event is organised by the Ministry of Education and Culture and the Rialto Theatre. All performances start at 8.30pm. Check the event website for more details of specific performances (www.rialto.com.cy)
Flower Festivals in Paphos and Larnaca
Known as the Anthestiria Festival, which comes from the Greek word anthos which means flower, these are Cyprus' celebration of spring and nature's rebirth. The festivities date back to ancient Greek times and are really worth seeing if you're in Cyprus during May. In Larnaca the flower festival takes place on 11th May and there is a wonderful parade of flower floats which makes its way along the seafront promenade. In Paphos, the festival takes place on 25th May and travels down Poseiden Avenue to the old harbour of Paphos (Kato Paphos). More information is available from the Cyprus Tourism Organisation (www.visitcyprus.com)
Golf in Cyprus
We'll be featuring an in-depth article about golf and golf properties available in Cyprus soon, but we thought you'd like a brief run-down of where the courses are now and we also have some news of a further golf course which is currently under construction and will be completed in 2010.
The very first golf course to be built in Cyprus was the Tsada Golf Club, which is an 18-hole championship course, just 20 minutes drive from Paphos Town. There's also the Secret Valley Golf Club development, a further 18-hole championship course which is around 18km from Paphos.
The good news for golf enthusiasts who love Cyprus is that a further golf course is currently being built at a village just outside Larnaca called Tersefanou. It will be part of the Tersefanou Golf and Country Club and will be PGA approved. Like Aphrodite Hills (see below), it will have a five-star hotel and spa facilities. Luxury villas and apartments will be built on or around the course. Keep checking with us for more news of Tersefanou!
Property at Aphrodite Hills
Aphrodite Hills is an award-winning 18-hole championship golf development which is set high on a hill above Paphos and is built on two sides of a ravine giving the most amazing views of the sea. The development contains a hotel, spa facilities, shops and restaurants as well as luxury homes, some of which are available through Cyprus Property World.
This month we've decided to feature a new development at Aphrodite Hills which consists of one, two and three-bedroom apartments, two and three-bedroom semi-detached villas and a few select luxury villas with private pool. There are two Phases - Phase II consists of 72 properties and Phase II an additional 49 properties which should be completed at the end of 2008.
Current Availability Phase I:
Prices From:
1 bedroom apartments CYP 238,000/ EUR 406,640
2 bedroom apartments CYP 316,400/ EUR 540,600
3 bedroom apartments CYP 386,400/ EUR 660,200
3-bedroom Villa CYP 582,800/ EUR 995,770
(Price include VAT)
*Area measurements available on request
We hope you've enjoyed our May newsletter - why not sign up for the June edition so that you can keep up to date with what's happening in sunny Cyprus or email us on
info@cypruspropertyworld.com and tell us what you'd like to see in the next newsletter.
The Cyprus Property World team is looking forward to hearing from you.