I have to agree with Nigel, it certainly is a load of tosh.
My advice to anyone looking to buy in Cyprus (and I sell property here) is do not do it unless it is for your own retirement, or you can afford to wait for several years before seeing any returns i nthe form of profit. If you have to borrow to buy do not even consider it at this time as the market is stagnant.
Rental income will not cover any mortagage no matter what the developers tell you.