Publication on waterfront properties

Waterfront Properties: defying the market crisis The property market around the world has been suffering for the past few years. In Cyprus the situation is somewhat different, especially with regard to waterfront properties, mainly because Cyprus is a relatively small island and the availability of such properties is scarce. Contrary to the inland properties, where there is a relative supply in the market, waterfront properties in particular have not been affected by the global property crisis considerably. That is because waterfront properties are always desirable especially by foreign exogenous demand, but their availability is scarce. Based on the principle of supply and demand, in my opinion the acquisition of waterfront properties in Cyprus is therefore a low-risk investment. What and Where In general, the value of any property depends primarily on its location. A prime residential waterfront location in Cyprus can be defined as one which a) Has direct access to a sandy beach which is suitable for swimming b) Is within one kilometer of the nearest amenities and services c) Protects your privacy d) Is quiet and peaceful. Although the supply is equally limited across the island, the current prices for waterfront properties in prime locations vary sharply. In most cases the prices will range approximately from €4.000 to €22.000 per square metre. It is a fact that the best beaches are concentrated in the Agia Napa – Protaras area on the southeastern coast. And yet, prices for waterfront properties in prime locations in these areas are currently closer to the lower end of the range. As demand rises and supply drops even further, the price of such properties has the potential to increase.