Whilst towns such as Paphos and Protaras have long been firm favourites with British homebuyers in Cyprus, properties in Larnaca and the surrounding region are only starting to gain popularity.
The Larnaca region's sudden rise in popularity with foreign real estate buyers can be attributed to a number of factors:
The Dekhelia Road Leisure Zone
Anyone who has visited Dekhelia Road during the past few years will know it
to be a well established tourist zone featuring a wide selection of
tourist accommodation ranging from humble apartment hotels to lavish five
star affairs such as the Lordos and Princess Beach hotels.
Dekhelia Road itself is dotted with shops, tavernas, bars, restaurants and other tourist
amenities, making it an ideal base from which to explore the local area.
Whether in Larnaca, Limassol, Paphos or Paralimni, search for homes here
What few visitors or homebuyers realise however, is that this popular
tourist area is about to undergo a major transformation, funded by the
Cypriot government, European Union grants and private entrepreneurs,
including one well known Russian Businessman and Football fan, who has
just concluded a land purchase for the construction of a multi-million
pound resort in the locality.
The New Marina
Linked directly to the rejuvenation of Dekhelia Road, the new marina is
set not only to boost the region’s profile with boating enthusiasts, it is
also predicted to have a profound impact on properties in Larnaca and
their long-term values.
Seen as a direct rival to the forthcoming Paphos marina just south of Coral Bay, the new marina at Larnaca is set to be a truly luxurious affair, complete with clubs, restaurants and
various entertainment facilities including, so rumour has it, even a fully
fledged casino.
The new Larnaca Golf Club at Tersefanou
Whilst golf is rapidly becoming a universally popular sport across the
whole island, the four grass golf courses currently operating in Cyprus
are located in the west at Kouklia, Tsada and Vikla villages respectively.
This overall shortage of golfing facilities has prompted the planning and
construction of the forthcoming Larnaca Golf and Country Club at Tersefanou Village. This fully featured venue, which has already gained the PGA’s seal of approval, is also set to
feature an associated leisure complex including a retail village and
health spa amongst other things.
For more information about this stunning new project, please click here.
Larnaca International Airport
What could an already existing airport have to do with the future of properties in Larnaca?
Larnaca’s international airport has been the main port of entry for
visitors to the island since its construction just after the invasion of
1974. The annual increase in visitor numbers has now prompted the
construction of a new and larger terminal building, able to cope with a
larger number of travellers with greater efficiency and comfort.
Set for completion in 2009, the new airport is an improvement to the
region’s infrastructure, essential to its long-term development and highly
beneficial, for example, to those of our clients looking at buy-to-let or permanent homes
Overall Growth Potential
Last but most certainly not least we have the fact that the average price
of properties in Larnaca is still substantially lower than their
equivalents in Paphos or even Ayia Napa.
These proportionally higher property values can largely be attributed to
the fact that Paphos already has an established and comprehensive tourist
zone (albeit without Larnaca’s many fine beaches), a selection of golf
courses and even an international airport. Once the construction of the
equivalent facilities in the Larnaca area is complete, real estate prices
are sure to reflect the region’s higher profile on the international scene.
Where solid, high-yield investments are concerned, the smart money is most certainly on properties in Larnaca.
When thinking of the towns of Cyprus, most people will immediately consider places such as Paphos, Limassol and Larnaca. That fact is though, that once you escape these centres of population, you will find a large number of smaller communities scattered around the island.
For the most part, these have preserved their traditional character, athough a few have readily embraced their growing popularity and evolved into tourist centres.
The Rise of Golf in Cyprus
The past few years have seen an ever increasing number of prospective buyers looking to invest in golf properties. Indeed, the continuing growth in the popularity of golf in Cyprus, along with the construction of new courses and associated residential developments, has added an entirely new facet to Cyprus properties and the Republic's real estate market.
And, whilst golf properties in Larnaca will certainly play their part in many an investor's long-term plans, one should not ignore the fact that new golf courses are springing up right across the entire island.
For more information about golf properties in Cyprus, please contact us.
Disclaimer. The prices quoted on the properties featured
in this website are displayed as guidelines only. They constitute
neither an offer nor contract, nor part of same. E&OE
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