In the Greek dominated, independent part of Cyprus, the southern half, house prices have fallen by 10 per cent over the past year, as the property market slump has spread from tourist areas into the wider property market, Cypriot developers say.
Resorts continue to bear the brunt of the downturn most, with prices for holiday homes down by as much as 40 per cent in towns like Limmasol, Paphos and Famagusta.
However, the bottom of the market has almost been reached developers say, which must be good news for estate agency, Knight Frank – it is marketing Akamas Bay Villas, 40 three and four bedroom homes close to the sea at Akamas Peninsula, a UNESCO World Heritage Site and national park.
Each of the Akamas project's modernist-style homes has its own swimming pool. Due for completion in 2012, the site is 25 miles from Paphos airport. The Prices start from CYP1.6 million.
http://globalpropertynews.blogspot.com
No comments:
Post a Comment