Developers in Cyprus are focusing on high-end buyers

A developer in Cyprus has adjusted its marketing strategy in an attempt to tempt a glut of high-end buyers back to the European island, Overseas Property Professional (OPP) has reported.

The Cypriot property market has been dented fairly badly by the global economic crisis and as such has seen a decrease in the amount of investors looking to tie-up their money in housing within the country.

But developer Aristo, alongside many others in Cyprus, has launched a new project in the village of Pissouri and is hoping to attract more wealthy buyers to the market.

"We felt we needed to rebrand and categorise our developments to identify specific marketing strategies for each type of property … they have different clientele and we need to use different marketing channels," group marketing manager Panayiotis Michaelides told OPP.

Potential property investors may be interested in the news that the latest Cyprus Department of Lands and Surveys figures show that sales increased by 24 per cent during January.

Popular areas included the country's capital city Nicosia, port city Limassol - where Pissouri is based - and coastal city Paphos.

Like this? Then share with your friends and colleagues!