Cyprus Property News
Cyprus | Posted:

A breath of fresh air in the Cyprus Property market.

A holiday complex of apartments and villas of 36 units and an estimated cost of 15m targeting to permanent residence and holiday makers seeks for an investor to handle the entire project. According to information the owner commissioned a large real estate agency in Cyprus with a task of finding investors for the entire project. Work has already started and the real estate office is trying to identify prospective investors, mainly foreigners. A cornerstone candidate to purchase the project appears to be a Saudi businessman, to whom the project was presented already.

The Issue of sustainability of the project in case of conservation and its commercial value as well as its potential in case that the project is to be sold as residential units, and other relevant issues were raised by the prospective investor from Saudi Arabia. However, this move comes at a time when the overall picture of the Cyprus housing market is very poor. However we must admit that a number of recorded moves by foreign investors lately are giving a breath of fresh air in the Cyprus Property market.