Whilst the Cypriot Government appears to be making some genuine strides in reviving the tourism industry and the property investment sector, it still fails to grasp some of the basic principles of marketing. If you rip people off, the bad publicity scares other investors away - make 2000 Euros now but lose 200 000 in the future is the usual Cypriot mantra. Blindly, the government continues to give a tacit nod to some of the shady development practices happening on their watch.

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The Cyprus property boom is over. Whatever the internet investment websites and realtors claim, the Cypriot property market has irreversibly collapsed. The worldwide economic crisis has completely deflated the speculative bubble, and many property owners are desperately trying to sell properties on an already flooded market. Sadly, they face a long wait or must sell at an obscenely low cost, losing around 30%.

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