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No matter what your budget, get ready to fall head over heels in love with Aphrodite
Shane McGinley



CYPRUS, the third largest island in the Mediterranean, is the legendary birthplace of Aphrodite, the Greek Goddess of love and beauty. Her appeal still appears to be working its magic, as many Irish investors have fallen for the island's charms.

The Goddess was a forthright and ambitious woman, who was keen to move up in the world and Cyprus has similar plans of its own and has announced new proposals to develop 11 new golf courses on the island in a bid to market itself as an international golfing location.

Aphrodite Hills in Paphos was one of the first integrated resorts on the island and planning originally took a long time to achieve. As a result the resort has a very low density with 650 luxury villas, junior villas and apartments spread across 578 acres. There are a lot of green areas as only 8% of the land can be developed on.

This month, 48 premium properties have been released for sale at the resort's latest village community . . . Theseus Village. Honouring the Greek hero who slew the Minotaur, this is a gated community of 121 properties, which will have dramatic views of the Gorge which runs down the middle of the resort.

The new Village will also have six luxury five-bed villas, which come with a price tag of CYP�1.17 million ( 2m). Each villa has its own private swimming pool, generous terrace and landscaped garden. For those with godlike ambitions but more mortal budgets there are also three- and two-bed "Junior Villas" starting at CYP�500,000 ( 858,000) and due for completion in October 2008.

Apartment prices start from CYP�201,000 ( 345,000) for one-beds, CYP�266,100 ( 457,000) for two-beds and CYP�308,200 ( 531,000) for three-beds. Other facilities on site include an 18-hole golf course, Europe's first five-star InterContinental hotel, tennis academy, equestrian centre and The Retreat spa facility.

In terms of finance 80% mortgages are available and recently Cyprus announced it aims to adopt the euro by 1 January, 2008. It is estimated that in season a three-bed villa at the resort will earn rent of approximately CYP�800 ( 1,377) per week.

Aphrodite Hills has been the recipient of a number of awards in recent months.

Conde Nast Traveller named the InterContinental hotel as one of the best new hotels in the world in 2006 and The Retreat spa one of the 10 best in Europe while A Place in the Sun magazine chose the golf course as one of its 10 best.

As one of Cyprus' main resorts it has attracted an array of personalities and famous faces including Irish TV presenter Craig Doyle;

actors Robert Powell and Tom Wilkinson; sports stars Gary Player, Andriy Shevchenko and Kelly Holmes.

Scientists believe they have discovered the remains of the lost city of Atlantis off Cyprus' coast while sceptics dismissed these claims the appeal of the island and Aphrodite Hills certainly not been lost on Irish holidaymakers and investors.

For more information contact McCarthy & Associates Ltd, 091 566022;

www. financialconsultants. ie;

www. aphroditehills. com.




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