And it seems that the former British colony may soon have more of the latter to offer, with the news that plans to build 14 new golf courses have been proposed. The effect such development will have on tourists is clear as it is unlikely that any keen golfer will not enjoy being tested by a fresh set of holes, but how could such a move impact upon the decisions of property developers?
According to Paul Collins, the property editor at BuyAssociation.co.uk, an increase in golfing opportunities should provide a boost to the property market in the area. "Whenever leisure facilities like golf courses go in, it does tend to give a bit of fresh impetus to the property market. There have always been golf courses in Cyprus and it has always been a popular reason for people going over there," he said. Mr Collins added that some of the courses on offer are "of a very high standard".
Furthermore, it is not just property developments in the locality of the proposed golf courses that will see the positive effect of their arrival, Mr Collins noted. He stated that due to the size of the island, it is probable that the new leisure facilities will profit the entire community.
"The whole island will probably benefit from this. It's not a massive island and it is quite easy to get around, so there are plenty of places that can benefit from this. People don't necessarily want to live right next door to the attractions," he commented.
And if this news is not enough to tempt overseas property buyers to investigate the options in Cyprus, hard data from Statistical Office of the European Communities might do the trick. It released figures last year that suggest population growth in Cyprus will be the strongest over the next half a century, compared to the other 25 countries in the European Union. It said that the number of people living on the island will swell by 66 per cent, growing to 1.12 million by 2035 and to 1.32 million in 2060. This is despite the fact that the overall population of the EU will gradually decline over the same period by 2.1 per cent.
Overseas property investors who 'putt' their trust in Cyprus now, may well find they land on a small patch of green surrounded by the rough.
Source: Assetz News
Dominic Farrell
