There is NO denying that the property market in Cyprus is aimed at foreign byers , Russians predominantly. Prices have almost overtaken those of most European countries. Rents of 10, 000 per month are common for an appartment. I can not see many Cypriots able to afford such high prices. Ok.assol is saturated with new " luxury" developments at sky high prices aimed at the very wealthy foreigners. I predict an imminent property crash as it might be some time before the Russian prospective purchasers arrive. I noticed recently a " villa" for rent in the Marina Limassol for 37, 000 euros per month. You will need at leadt 5 million to be able to afford this ludicrous price. I'm thinking of buying an appartment but my view is that by the end of this year's summer I shall be able to buy at half the price asked now.
Beware, you have been warned.