Cyprus Property Market Aided by New Golf Courses

The Cypriot government has given final approval for fourteen new golf courses on the island, which will undoubtedly help Cyprus in its aim to increase tourism, and in turn then aid the Cyprus property market.

The new courses, which will bring the total number on the island to 17 faced stiff opposition; were given approval with conditions: with Cyprus facing protests over water shortages, as some analysts predict it is to become a desert, each new course must have its own desalination unit powered by renewable energy.

Stefanos Stefanou, a Cypriot government spokesman said of the decision, which he said had been taken by the previous government:

"It was taken for the purpose of strengthening the tourism product in Cyprus and boosting economic activity." Stefanou also said: "In accordance with the decision, no water supplies will be given over by "the government to meet the needs of these facilities."

The new courses are expected to be built in the following regions: Limassol at Ayios Ambrosios, at Paramali and Fassouri, at Polis Chrysochous, in Paphos and Ammochostos-Larnaca.

The new courses will be accompanied by resort style property developments to house the incoming tourists.

It is unsurprising that the government should approve the courses, following recent reports that Cyprus is financially bankrupt and has approached the European Central Bank for emergency aid.

The new developments and increased tourism will no doubt put off plan property in Cyprus back onto overseas property