Low entry investment in a luxury resort near Paphos. Pre-launch prices on stunning sea view apartments, set between Jack Nicklaus & Gary Player golf courses. Free furniture packs for a limited time!

Strong rental returns between 8 and 12% per annum
Average capital appreciation 20% per annum
Full rental management services provided by Universal Vacations
New €440 million motorway expansion to be completed by 2011
Latchi panorama is only 25 minutes from Paphos Airport
This is an exclusive area with many high-end facilities, including a 5-star hotel, a new marina, the famous 'Baths of Aphrodite'


Designed by the renowned Cypriot designer, Nicholas Meletiou, this resort incorporates luxury, style and elegance with top-of-the-range facilities.


The Resort
The resort comprises of 101 stylish residential units, offering a wealth of facilities for its residents.

1 and 2 bedroom apartments
2 and 3 bedroom town houses
4 bedroom villas
ALL units will enjoy unhindered panoramic views due to the plot elevation (550 meters above sea level)

Some units feature private roof terraces with jacuzzi and BBQ

See Video Tour, payment schedule, pictures and detailed info by registering the website.

__________________
Elizabeth George, TRC
www.investandmultiply.com
member of ICREA, NAR, TAR, SABOR

Facts:
Cyprus is a buyers' market. There are thousands of unsold properties. Developers are offering cars as sales incentives; some have tried - unsuccessfully - to off load properties at auction. The Paphos - Polis motorway is not a done deal. As for the golf courses !!!!!!. Preliminary outline pp has been given to a proposed course east of Polis. The government has turned down at least ten proposed courses because they can't supply the water (Rationing is in force over much of the island at present). The quoted rental returns and capital growth are mere pipe dreams. The government has expressed grave concerns over falling tourist numbers. The pound has depreciated 20% against the euro over the last 12 months, which is hitting tourists and potential buyers.

Want a property in Cyprus ?. Go for a resale; there are some desperate sellers out there.

Lysos,

Where would you source your resale properties?

I am thinking of taking a trip out to Cyprus to see what is available myself, but it would be good to do some research beforehand.

Thanks!

Hi Lindsey,

Firstly, a general observation; in today's economic climate (which in my opinion is not going to improve any time soon) think very carefully about any destination that relies on air accessability. There'a lot of bad news around that is is going unnoticed. Apart from the demise of all three business class carriers from UK to the States, Easyjet is thinking of closing its' Dortmund hub, Singapore Airlines wants to sell its' stake in Virgin & today United in the US announced it was laying off 950 pilots. Airlines business plans are basically not viable with the current oil price. I can see air travel retrenching and becoming, once again, something of a luxury item.

Back to Cyprus. I presume you have not been there but are thinking of buying for investment. Whilst my views (that's all they are - my personal views) are about the ROC (southern Cyprus) they could equally apply to all overseas locations.

A simple google search will throw up lots of agents' resales. Personally, I don't think the market has bottomed out yet. Like UK there has been steady growth in recent years but there will be a correction over the next year or more, so unless you bag a distresed resale I don't see any capital appreciation in the near to medium term. If buying for rental, be aware there is a vast oversupply of such property. If you are still not put off, concentrate on top end properties i.e. non-estate detached villas on large plots, min 3 beds 2 baths private pool etc.

Don't rush !. I know of several such properties that have been on the market for over a year. It takes time for vendors to wake up to econonic realities. Visit Cyprus in the winter, when although pleasant, you won't be seduced by the weather, and desperate sellers are facing another winter with no offers.

On your first visit leave your cheque book at home. Just travel around getting a feel for things.

Bookmark a few properties you are interested in now, and when you get out there see if they are still available (bet they are !).

Hi Lysos,

Thank you for getting back to me. I am in the very early stages on investment and as you say, I have not yet been over to Cyprus personally, just spoken to a few people that have and am planning a visit later in the year.

The excellent, sensible advice is much appreciated!

Regards

Lindsey