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Cyprus’ Mountain Villages Are Becoming Hotspots For Investors

by News Editor
April 10, 2025
Once overlooked, Cyprus’ mountain villages are now attracting serious investor attention, fueled by the ambitious restoration of the iconic Berengaria Hotel in Prodromos. Developers and international buyers are shifting their focus to Platres, Agros, and Kakopetria, drawn by fresh opportunities in high-altitude hospitality and tourism.Andreas Mandalas, president of the Pasyxe Mountain Resorts Committee, confirms a surge in interest. “The Berengaria project has been a catalyst. Platres and Kakopetria, in particular, are seeing renewed investment,” he told. “Forest Park and Penteli in Platres have been sold, Petit Palais has been renovated, and Nea Elvetia is undergoing restoration. Investors are now eyeing Kakopetria as a fully-fledged tourist destination.”

The Berengaria redevelopment is spearheaded by real estate firm BBF, with Thanos Hotels set to take over management. Andronikos Spyrou, the project’s manager, highlighted the wider potential of the Prodromos area. “We’ve made a significant investment in Berengaria and have already submitted plans for additional projects in the region.”

A Wave Of Capital Flowing Into Agros and Kakopetria

The investment boom extends beyond Prodromos. In Agros, the historic Rodon Hotel recently changed ownership, with Hong Kong-based investor Balram Chainrai acquiring an 87.85% stake following a public takeover bid. Meanwhile, Kakopetria is actively courting investors to revive dormant hotel properties.

“We’re looking for investors to breathe new life into hotels that have been inactive for years,” said Iakovos Papaphilippou, president of the Kakopetria community council. Property sales in the area are picking up, and infrastructure improvements are adding to the region’s appeal. “The Astromeritis–Evrychou road will be completed this year, and the Kokkinotrimithia–Astromeritis road is set for completion by 2029. These projects will unlock further investment potential.”

A €100M Development Pipeline In Platres

Pano Platres is another village transforming, with projects worth over €100 million in progress. According to Dimitris Papatheodotou, secretary of the local community council, demand for land is surging. “Investors need state support to expedite building permits and land divisions. When interest grows, our forested land is preserved rather than left abandoned.”

While tourism is the main economic driver, Papatheodotou stresses the need for year-round livability. “Infrastructure upgrades, an improved Limassol–Platres road, and better educational and childcare facilities will help attract permanent residents and sustain growth.”

Government-Backed Revitalization And Private-Sector Momentum

These developments align with the government’s broader mountain community strategy, aimed at revitalization and improved quality of life. According to a report from the mountain development commissioner, 280 government initiatives are currently being implemented, spanning infrastructure, education, and healthcare.

Roadworks led by the Ministry of Transport are enhancing accessibility, while investments in agriculture, waste management, and fire prevention are strengthening local resilience. But while public funding lays the groundwork, private capital is driving real progress.

“Quality hotels, boutique guesthouses, wineries, and agritourism ventures are not only creating jobs but also reinvigorating the local economy,” the commissioner’s report states.

The Future Of Cyprus’ Mountain Villages: Sustainable, Livable, And Thriving

A key priority is keeping younger generations from migrating to cities. “Supporting youth entrepreneurship and creating new opportunities will be essential to reversing urban sprawl,” the commissioner noted.

With its rich natural beauty and cultural heritage, rural Cyprus holds vast potential for sustainable tourism and local production. “With the right investment and strategic cooperation, these mountain communities can become beacons of sustainable development—offering a high quality of life for residents and unforgettable experiences for visitors.”

Price Shifts: Temu And Shein React To Upcoming Tariffs

by News Editor
April 27, 2025

The online shopping world experienced a jolt as Temu and Shein, popular e-commerce platforms, recently adjusted their prices due to impending tariff changes. These platforms, known for offering budget-friendly options, have echoed with changes that might surprise many shoppers.

What Sparked the Price Hike?

Effective next week, a significant tariff will impact goods imported from China. This tariff follows the expiration of the “de minimis” exemption on May 2. This exemption previously allowed American shoppers to skip tariffs on items valued under $800. The new tariff demands a 120% fee or a flat $100 per postal item, increasing to $200 come June 1.

For instance, Temu’s two patio chairs jumped from $61.72 to $70.17 overnight, while a bathing suit on Shein saw a 91% surge in price. Yet, the price landscape isn’t consistently upward; a smart ring on Temu dropped by $3.

Implications for Consumers

Due to economic shifts and evolving trade rules, both Shein and Temu emphasized their efforts to maintain quality and affordability despite costlier operational expenses. They advised consumers to shop before April 25 to dodge the upcoming hikes, though it’s uncertain if this timing affects the 120% tariff applicability.

Impact on Lower-Income Households

The discontinuation of the “de minimis” exemption is poised to hit lower-income families hardest. Reports indicate these households spend a higher income proportion on apparel, and this change could burden them further.

Further economic insights highlight how industries adjust to challenges, such as in the face of AI-driven changes, potentially offsetting emissions concerns with economic gains.

For buyers and businesses alike, the shifting sands of trade laws call for adaptability and forethought.

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