Cyprus changed their currency to the Euro in Janaury 2008 which is being seen as highly beneficial to the island’s property market and the change means that interest rates are likely to coem down as this will be seen as very beneficial to the local buying market as well as the expat and investor market.
Prices may increase by as much as 50% over the next year or so acoording to many analysts who have been predicting a dramatic growth in the property market of Cyprus. In that the island naturally has limited land space these predictions are quite likely to play out as larger portions of the nation are developed and less space is left for further construction projects to take place which in turn strengthens the market.
The world is in a financial turmoil and golf courses need expansive amounts of water to sustain itself. Who is going to buy a golf villa when banks aren't forthcoming on loans.
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