Invest in Property in Larnaca in Cyprus Today!

It’s well known that Paphos and the towns and villages around this Cypriot resort make an exceptionally fertile ground for property investors, second home buyers and retirees from across Europe because the facilities and infrastructure are excellent, the climate is outstanding and the availability and quality of properties in this part of Cyprus are impressive…but in this article we’re going to introduce you to a whole new side of Cyprus!

Today we’re going to be looking at the reasons to invest in property in Larnaca in Cyprus today.  The reasons are manifold and include increasing tourism numbers, rumours of the creation of a significant golfing resort, plans for the marina and much, much more.

Larnaca is a town in Cyprus that has to date been overlooked – initially Nicosia received all the investment and has been turned into a beautiful – if small but perfectly formed - European capital.  Next up Paphos received the financial attentions of the European Union and Cypriot government and finally Limassol – once a dirty and unattractive port town – has been transformed into a stunning Mediterranean resort.

So, it was really only a matter of time before the government in Cyprus, the EU and the Cypriot people began looking at Larnaca and considering the part that it could play in the transformation of the nation from a fun holiday hotspot into a sophisticated, international tourism and business resort.

Larnaca has a number of natural and already established benefits and features – for a start it is home to one of the island’s international airports….secondly it has a long sandy beach right up to which the town has already been developed.  In addition to these factors there’s a port and a small marina in Larnaca which could be foundations on which a stunning resort is built.  And finally significant developments are afoot that will see Larnaca transformed into a jewel in the crown that is Cyprus.

The first piece of good news for potential property buyers or real estate investors is that the price of property in the Larnaca area is significantly lower than in Limassol, Paphos and Nicosia. 

For example, you can currently buy a bespoke, luxury family house which has been kitted out with the highest grade finishings and extras such as marble floors, parquet flooring, Jacuzzi bath, air-conditioning, central heating, satellite television and so on and so forth for just over CYP 400,000 (.(JavaScript must be enabled to view this email address)) whereas such a luxurious property in Nicosia for example would set you back upwards of CYP 600,000 – so as you can see there is plenty of room in the property market in Larnaca for growth.

The next piece of interesting information is that Larnaca airport is being upgraded and significantly expanded to the tune of 600 million euros and already tourism numbers and flight volumes through the airport are up in 2007 compared to the same time last year proving that Cyprus is gaining ground in terms of dominating the Mediterranean tourism market. 

This is great news for property investors as it means there will be more take up potential for their property in Cyprus, and it’s good news for those considering the purchase of a second or permanent home in Cyprus as it means there’s improved accessibility to the island.

In addition to all of this, three tenders for the development and expansion of Larnaca marina and port have just been submitted to the government which is seeking private commitment to transform the current small port into the largest passenger port in Cyprus well able to cater for large cruise ships – and to more than double the capacity of the marina from 400 to a 1000 vessel capacity.

All of the above information is fact – and fact supporting reasons to invest in property in Larnaca in Cyprus today – and on the rumour mill there’s hints that a large development consortium is going to change the face of Larnaca into a significant golf and leisure resort to more than rival Aphrodite Hills in Paphos…so, if you’re looking for a tried and tested, improving and expanding property market to buy into, why not consider Larnaca?