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Click here to find out what's happening right now at the Tersefanou Golf Course
The Tersefanou Golf Course would be vital for the Larnaca region's infrastructure
Since the other three courses in Cyprus are located in the Paphos and Limassol
areas, the construction of this massive mixed-use golf/leisure resort would provide a much demanded alternative
to the lengthy drive (no pun intended) currently required to reach the courses
at Secret Valley, Aphrodite Hills, Tsada and Elea, and thereby represent a substantial boost
to the region's recreation and tourist infrastructure.
Master plans for Larnaca Golf Course and Country Club include a six
star hotel, a luxurious club house with a number of
restaurants, bars, a library, children’s play
area and banquet hall. But aside from its golfing facilities, including a 6,000+
metre championship golf course, golfing academy, driving
ranges and resident professionals, the plans also
incorporate an international business centre, retail
village, health spa and fitness centre, equestrian
centre, football academy, swimming pool, tennis courts
and much more. |
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Click here for the Tersefanou Golf Resort Map |
It all sounds very good on paper, but where do things stand at the moment?
The simple fact is that while construction on Limni's two signature golf courses is blazing ahead with multi-million Euro land-sculpting programs and monumental earthworks, nothing much is happening at the Larnaca golf course site. Indeed, the consortium in charge of the resort's construction has apparently confessed to a local property action group that there are insufficient funds to allow the golf course's construction at any point in the immediate future.
This announcement, in turn, has prompted grave concern among the countless small investors and golf enthusiasts who bought properties at Tersefanou village in recent years, purely because of the promised golf resort.
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An excellent investment?
The Larnaca golf course has now been forthcoming for over five years, and during this time the surrounding region has experienced a veritable explosion of property development. Indeed, Tersefanou is now veritably bristling with countless villas and apartment complexes, most of which were originally sold as prime investments, purely on the strength of the promised leisure resort.
However, the seemingly endless delays, along with the recent claims of inadequate financial backing, have taken their toll on property values around Tersefanou, and many homes are now worth substantially less than their original selling price just a few years ago.
At this stage a glut of available homes in what, without the Larnaca Golf Course's presence, is just another one of Cyprus' many backwater farming villages, make this a dubious seedbed for prospective investors. |
Register to receive updates about further developments at the Larnaca Golf Course:
What then is the future of golf property investments in Cyprus?
It's no secret that the collapse of the overseas property market, and the prevailing global economic climate have taken their toll on potential investors. However, despite the slump there are still solid property investments to be found on the next generation of Cyprus' golf courses, so long as one ignores those venues with unrealistically high prices of €7,000+ per square metre.
Additionally, one need only cast one's eye over construction activities at venues such as Limni and Secret Valley to see which of the many forthcoming Cypriot golf resorts are likely to actually be finished.
Ultimately, making an investment in overseas property takes careful consideration and expert advice. Aphrodite
Sun Properties has been providing prospective investors with outstanding advice about the Cypriot property market since 2004, and our staff take great pride in their unrivaled customer satisfacion records. So if you're wondering about buying a home on one of Cyprus' golf resorts - present or future - we will be happy to discuss your own requirements and
provide solid advice based on your individual needs.
We don't just want to sell you a property.
We make sure you're safe, satisfied and informed.
Please note that all images on this page were taken at the Aphrodite Hills golf course, and are included to provide an example for general guidance only.
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