Property Desk

Cyprus has always been one of the hotspots for many Brits looking to move to a warm and safe environment, part of the European Union and former British colony the birth place of Aphrodite is still a key destination for many Londoners.

This year with the global property markets looking increasingly attractive for buyers E & ML developers a Cypriot property investment company is building 10 homes on the seafront in Protaras located between Cape Greco and the village of Paralimni which "boasts the fabulous Fig Tree Bay", stretching over 10 miles of golden sandy beaches.

A E & ML  Ltd spokesman said:

"We are trying to offer homes to families from the UK and elsewhere that are ready to move into, all fully equipped, with swimming pools, parking, easy access to the beach, perfect for anyone wanting to relocate to Cyprus and enjoy 365 days of sun".

Properties by E & ML are being marketed at 350,000 Euros for a three bedroom home with a pool and a five minute walk to the beach.

However the property market in Cyprus is not immune to the global slowdown in demand for real estate with figures published this month showing, the number of property sale contracts in April fell 54.9% Year-on-Year according to the Cyprus Land Registry Department. The Financial Mirror the islands leading financial publication claimed that "this follows the 64.7% reduction in the number of property sale contracts in the first quarter of 2009."
 
"Sales in Paphos, Larnaca and free areas of Famagusta were affected the most due to their dependence on sales to non-residents. However, Limassol and Nicosia did not remain unaffected." - Financial Mirror Cyprus

To contact E & ML developments ring 0208 920 3183 for more information or email sales@ipmpress.com the development is set for completion on 1 September 2009.