Sale prices and celebrities

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Sale prices and celebrities
 © In-Cyprus 2018
By Antonis Loizou

In Greece, it is common for a rather large-scale development project to offer, either for free or next to nothing, a unit to a celebrity, in order to attract the star worshippers willing to pay a premium, depending on how close their property might be to the celebrity’s home.

For our part, and having lived in Cyprus for so many years, we have never placed an added value to such scenarios, but then, we have been proven wrong. There are all kinds of celebrities, both of the international and local variety. Perhaps we could place a value if, say, Madonna, or Lady Gaga, etc., bought into a project but, to have a frame of reference, local names are quite different.

At a project in Limassol, comprised of a most attractive apartment block by the beach, the developer had 60% of the units unsold for six months during 2009. And then, all of a sudden, we were informed that only 30% is left to be sold. Asking for the reason for such an upsurge in sales in...


Sale prices and celebrities


The contents of this article including any associated images are © In-Cyprus 2018
Views & opinions expressed in this article are those of the author and/or In-Cyprus .

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