Cyprus has been a popular Mediterranean destination for UK property investors for some years. It remains so,and investors are looking for ever-better bargains.
Things to look for are:
•low deposits
•100% financed options
•low interest mortgages
•long-running guaranteed rental schemes
The Views at Pyla is 15 minutes from Larnaca town,and 20 minutes from the airport. Set on an expansive plot in a quiet residential area between the popular villages of Oroklini and Pyla,The Views is just five minutes drive from the Dhekelia seafront with its beaches,bars and restaurants. The development is due for completion in October 2009.
The Views at Pyla consists of four small apartment buildings,with a total of 58 luxury apartments. There are two-bedroom penthouses with large verandas,eight ground floor two-bedroom apartments,16 two-bedroom and 26 one-bedroom apartments on first and second floors. There is covered parking underneath the four blocks which will stand on columns and the extra height helps to enhance views of the surrounding area.
There are a combination of one and two bedroom luxury apartments over three floors in each block. On the ground floor the spacious apartments lead out to the swimming pools through private landscaped gardens. All apartments are designed to overlook the pools towards the sea. The stunning two bedroom penthouses also benefit from en-suite bathrooms and large south-facing terraces with stone barbecue areas,for private entertainment.
In the Larnaca district the government has plans for around four billion euros of investment over the next five years. The plans include an international airport due to open in 2009,a port suitable for cruise ships and an upgraded and extended marina. There are also plans for a PGS Signature golf course at Tersefanou,with a five-star hotel and country club and superb facilities and amenities.
At The Views,the required deposit is only 10%. The project also benefits from a 10-year insurance backed guaranteed or variable rental scheme and property management agreement.
One of the things that makes Larnaca so unique is that it is in some ways all things to all men. The airport is only a few kilometers outside the town center making it a perfect holiday destination without the hassle of long airport transfers. The town also boasts an award winning sandy beach,marina and the Islands main port. The promenade in runs between the beautiful beach on one side and a host of sea front restaurants on the other. The pretty marina sits at one end and an ancient medieval fort is situated at the other. The whole of the Larnaca sea front area is immaculately maintained and there is plenty of seating where you can just chill out with an ice cream whilst taking in the sea view.
All these pluses go towards making Larnaca a great place to buy Cyprus property either for that dream holiday home or as an investment property. There is plenty of development going on in the area too so prospective investors in property should have no problems finding an ideal plot or two. The coastal vilages like Oroklini are still up and coming and they are just outside the bustling town whilst being close to the Islands main coastal motor way. These developments would be ideal for property investors interested in benefiting from the booming Cyprus holiday rental market.
There are plenty of other great reasons why Larnaca could be the perfect place to own a Cyprus property. Not least the fact that it is a major town and municipal district in it’s own right. If you want everything at your fingertips then this is the place to be. There are more shops than you could shake a stick at including many of the larger chain stores such as Debehams and Marks & Spencers. The town has a thriving commercial sector and beyond the town are several industrial estates. In fact the area really is thriving both in terms of commerce and tourism too. It’s little wonder therefore that property prices are rising steadily all over the area especially close to the coastal resort itself.
With so much going for Larnaca both as a town and a holiday resort deciding to buy property in the area should be a no brainer. The out of town developments should show the most growth in value if only due to theire exclusivity appeal. In recent years prices of similar developments have been boosted by the influx of locals seeking a suburban life style away from the main Cyprus town centers and the area looks set to do likewise. Larnaca has seen some major investment over recent years both in infrastructure and ongoing development. In fact as I write this article the airport is being totally rebuilt which is a sure sign of ongoing confidence in the area.
If that’s not enough to attract cyprus property investment in Larnaca there may be even better to come. GOLF! The magic word that any property speculator loves to hear. Golf,sea sun and beautiful Cyprus property just have to be the perfect mix for a boom economy. There has been much talk recently of a proposed golf and leisure development in the area which would include luxury properties of all sizes. Villas apartments and luxury bungalows are all in the mix of this much talked about development that would put Larnaca right into the premier league of Cyprus golf resorts.
With so much going on there already the area looks set to be a property investors dream come true. Golf,shopping sea and a great helping of Cyprus sun make Larnaca property the perfect Choice for holiday lets or residential homes alike. There is even talk about extending the marina to accommodate all those luxury power boats that the speculators will be able to afford with their property profits. So if you are looking to Cyprus as an investment opportunity perhaps you should seriously consider Larnaca property.
The Pyla Village resort in Larnaca,Cyprus is a beautiful holiday complex of luxury,self-catering apartments. I stayed in one of their 1 bedroom,ground floor apartments with a private swimming pool for 10 days last year and had a great time,I would recommend it to anyone.
The owner of the apartment arranged everything via his management company BMS Travel so that we could stay their hassle free. Basically the management company called me up after I expressed my interest in using his apartment and arranged my flights,car hire and even gave me a direct contact on the ground in Cyprus should I require any assistance whilst using the apartment.
The property is located in a quiet and picturesque village called Pyla,just ten minutes drive from central Larnaca. It remains far enough outside the boundaries of the town that I could enjoy the local atmosphere and amenities that this traditional village has to offer yet only 2 miles for the beach meant I had the best of both worlds.
If I was to rent in Larnaca again or recommend a luxury apartment in Cyprus I would definitely point people in the direction of Pyla. The development,Pyla Village,was fresh and clean,the people were friendly and we benefited from an onsite pool area and tennis court,local shops,tavernas and restaurants and basically enjoyed the whole experience.
The beach nearby is a blue flag CTO beach and pretty much the best in Larnaca bay,it stretches for a few miles with clean sands and clear water and has multiple parades of bar,shop,restaurant all the way down to Larnaca town.
In all,we enjoyed our stay thoroughly and the price was very reasonable considering the high standard of furnishings within the apartment and everything else the resort had to offer.
Anyone looking to rent or to go and rent Cyprus villas then they need to try Larnaca.
Larnaca is so unique in many ways,the airport is only a few kilometers outside the town centre which makes this a great place for people that don’t like travelling. Once you step foot in Larnaca you’ll notice it’s natural beautiful and award winning sandy beaches plus the new and up and coming marina and main port. Once you set foot on these golden beaches you’ll notice the promenade and all the different restaurants on the sea front. There is a lot of history at the marina and you’ll see an ancient medieval fort at one end of the port,which is just a cool place to just chillout and relax taking everything in.
So if your looking to buy a villa in Cyprus then Larnaca is the place to be. At the moment there is plenty of work going on,on new developments for investors or people wanting that second holiday home. If your looking for a more quite area just outside Larnaca then Oroklini is the place to be,this is just outside the bustling main town centre and with the new motorways being built it’s very easy to get to. So if your after or looking to rent Cyprus villas then this would be the place.
With so much going on in Larnaca it makes this the perfect place to rent or to buy a villa. Larnaca also has a great shopping area with all the leading brands and almost all the high street larger chains like Next and Booths. You’ll find once you are here you’ll be falling in love with the place,and with a few hundred thousand euros you can get yourself a perfect beach villa.
A recent study showed that the rich and famous have bought villas in and around Larnaca and this can mean only one thing,the price will soon begin to rocket up,and if thats not enough you’ll also find that golf as an incredible market value over here to,and with the European tournaments hoping to start playing here within the next few years. So if you mention the word golf around Larnaca you’ll see pounds signs in people’s eyes. There is also much talk about a large number of new developments going on for new golf courses and villas and this would then put Larnaca right on the golfing world.
With all this going on it looks like a property investors dream which is about to become true,one thing you can count on in Cyprus is the weather and you’ll find more and more people are flocking to Cyprus to grab a few weeks of this. Larnaca just about has everything you need and everything you’ve ever wanted. So if your looking to rent Cyprus villas or to buy Cyprus villas then Larnaca should be your first choice.
Overseas property investment has historically yielded great returns for investors,but with the global credit crunch taking its toll,investors are now seeking new emerging property markets to maximise their returns over the next five to ten years. One of the most exciting places for investors at the moment is Larnaca,Cyprus.
Cyprus is a diamond in the rough as far as Mediterranean holiday destinations go. It has an established tourist and expatriate market that has been growing steadily for the last 40 years under the radar of EU investment.
When Cyprus joined the EU in May 2004 they were granted 6bn Euros to fund the development of the island’s infrastructure including improved roads and airport expansion,but also to grow its tourism industry from 3m visitors per year to 10m.
The bulk of this funding will be injected into the city of Larnaca on the south east coast of the island and will include a new airport,attracting new budget airlines such as Easyjet and Monarch. A PGA golf course just a few kilometres from the town and a luxury 750 berth marina which will replace the old oil refinery,all of which will transform Larnaca into a cosmopolitan holiday destination.
Over the last three years demand for property has increased by an average of 15-20% per annum. This will continue with EU membership as people from the land locked central European countries,which are also destined to become member states,are expected to look for second homes on the island (Source: FT World Report)
For investors looking for healthy capital growth over the next 5 years Larnaca is definitely a location worth considering.
When planning to go to Larnaca Cyprus on holiday it is important that you take the time in advance to make all the necessary arrangements. During peak holiday periods,Larnaca is a popular destination,so flights and accommodation often fill up fast. Here is what you should do to ensure your holiday to the region goes as planned.
The first thing you should do when planning to travel to Larnaca for holiday is to make reservations or arrangements for your lodging. There are a number of different places for you to stay including hotels,self catering Cyprus apartments or even in a Cyprus villa. No place is perfect for everyone thus it is important for you to determine which one will be the best fit for you and the other holiday travellers with you. For example,large groups often find staying in a Cyprus villa to be a more affordable option over paying for several hotel rooms. However,couples usually choose hotels or apartments since a Cyprus villa may be too much space at too high a cost.
For individuals and families that travel to Cyprus frequently on holiday it may make more sense to purchase a Cyprus villa or other type of Cyprus property for sale. There are a number of different estate agents,which can help you find the exact Cyprus property you need regardless if it’s a Cyprus villa or an inexpensive apartment. By purchasing a permanent holiday home in Cyprus you can save yourself time when planning future holiday trips to Larnaca as you will be able to skip right past making accommodation arrangements.
After finding a Cyprus villa or other place to stay while on holiday,it is important to make reservations for your flight. There are a number of websites you can visit for prices of a cheap flight only to Larnaca Cyprus,and many allow you to book it online using a credit card. However,you can still use a travel agent to make your flight arrangements for you if you are uncomfortable making airline reservations online - just don’t buy any insurance from them as they are notoriously expensive.
Your other reservations might be for anything else you might need. Some people choose to make reservations at fine dining establishments they want to try,while others reserve a rental car in Cyprus to get them to certain activities and destinations throughout the city and the outlying area. While these reservations may not always be necessary,they are a good idea if you are travelling to the area during peak holiday period,this particularly applies to Cyprus car hire.
Finally you should plan out your itinerary for your trip and compile a list of what you need to pack. Clothes to suit the weather (it can be cold in the evening during winter) and a Cyprus detailed map are just two of the items that should be on your list as these are essentials in ensuring you have a pleasant stay. The clothes will help you stay comfortable,while the Cyprus detailed map will prevent you from getting lost!
After you’ve finished planning your itinerary and places to visit it’s time to wait until your date of departure. When that day does arrive you’ll be able to stay away from being a frenzied,last-minute traveller,because you took the time to plan ahead. When other people can’t find a rental car in Cyprus or they get bumped from their flight at the last minute,you can cruise on by,knowing your vacation will be nothing but fun and relaxing.
Entering Cyprus is very easy as the city of Larnaca is the international gateway to the country. Larnaca is one of the most modern cities of Cyprus with an international airport and fabulous sightseeing options. Though it lags behind other destinations in terms of attractions,it proves to be at par with them with a small yet impressive list of worth visiting places. If you ever wish to enjoy the deep blue seas with bright sandy beaches and sunny skies,Larnaca is there to fulfill your desire.
Number of inhabitants hardly crosses the mark of 50,000 and it got its name from a Greek word Larnax,which literally means coffins. The 400 berth marina is crowded with visitors with yachts. The fascinating deep blue water of sea creates a panoramic view to soothe your eyes sitting on the long sandy beaches. Long promenade with lined palm trees along the harbor brings an effortless relaxation to the mind—even a short stroll invigorates you enough to spend more time here. Hotels in Larnaca are equipped with all sorts of luxury to render complete relaxation.
Earlier the city was called kition and it had been the main trade center of Cyprus. Later it deteriorated as an industrial place and was outperformed by few other cities in terms of product manufacturing. However,Larnaca retains its importance by still producing hundreds of private yachts and possessing several oil refineries. It is one of the oldest cities of Cyprus and features a few but impressive archeological heritages. Ayia Phaneromeni Church (icons) and the 9th-century Byzantine Church of St. Lazarus are places you cannot afford to miss out on visiting. Within walking distance from the town center is District Museum that displays some rare collections antiquities.
Wherever there’s golf and sun there is also money in property. Perhaps that’s why Larnaca in Cyprus is causing a stir amongst property speculators and holiday home investors alike. A new golf resort in the Larnaca area of Cyprus has been extensively talked about over the last few years. These ambitious proposals also include the building of a new super marina suitable for luxury yachts and a whole host of associated development. As the countries economy continues to grow investors are enjoying a new confidence in Cyprus with some grand projects already under their belts. The Islands capital Nicosia continues to develop at a rapid pace and the recent building of it’s first shopping mall including the Ikea store bears testament to investor confidence in the Island. In fact the climate now appears ideal for further bold investment.
The influx of foreign money generated by the Cyprus property boom has been a major contributing factor to this optimistic view for sure. However this new wealth has created a large amount of disposable income and those that have it are looking for places to spend it.This has created the demand for European shopping centers like the Cyprus mall and improved leisure facilities such as golf. Some observers are predicting the building of more shopping centers in the principle towns and further investment in golf property. Larnaca therefore would look set as the ideal location for both. It’s close proximity to the Islands principle airport coupled with ease of access to the rest of Cyprus strengthens this argument even further.
Larnaca property is not the most expensive in Cyprus right now but of course all that could change very quickly. Once golf arrives in an area prices tend to increase rather quickly and tardy investors often find themselves left behind. The trick is to pre empt the market and buy property before any plans for leisure complexes or major infrastructure changes are rubber stamped by the planing authorities. This is of course a highly risky business but that’s why so much profit is made from such speculation by savvy investors. Even those looking to buy a holiday home for themselves could edge their investment bets by purchasing in Larnaca as apposed to other parts of Cyprus. The resort area of the town is after all a beautiful location for that dream home in the sun.
Anyone who has visited Cyprus a few times in recent years can see just how fast the Island is developing not just in terms of residential building work either. Many of the larger chain stores are opening outlets and foreign investment continues to pour in. The new generation of Cypriots have seen what the rest of Europe enjoys and they want a piece of it for themselves. The battered pick up trucks are giving way to the likes of Mercedes and BMW whilst the marinas are filling up with luxury power boats. There is new money in Cyprus which in turn is attracting plenty more of the same. Larnaca and other resorts in Cyprus could be perched on the crest of a second much larger investment wave.
No one can accurately predict how the economy will perform in the future but leisure and property have always yielded long term sustainable growth. Larnaca could soon be at the center of one of the most lucrative phases of the Islands recent history with the heady mix of golf,sun and holiday property. So if you are looking for that dream home in the Cyprus sun it may be that Larnaca property is just what you are looking for. The other positive factor of the golf equation is that it could turn a summer only holiday resort into an all year golfing centre. This would likely have the knock on effect of putting the town on the map as the East coast’s all year resort just as golf did in the paphos area. Maybe it’s time to consider making your investment in Cyprus Larnaca property.
Larnaca in Cyprus could be described as the resort with everything. It’s a major municipality,a town and a holiday resort all rolled into one. It’s also home to the Islands main airport and and boast a great selection of shops too. Add to that a pretty marina along with Cyprus’s main port and Larnaca certainly appears to have plenty to offer holiday makers and residents alike. That’s before we get started with the historic buildings including a medieval fort and several other listed buildings. There are also several modern industrial estates on edges of the district and a thriving commercial center too. There’s a modern promenade thronged with trendy sea front cafe bars,restaurants and the obligatory fast food chains for the youngsters.
The beach at Larnaca is one of the best in Cyprus and is actually man made though you wouldn’t have guessed so. Most of the restaurants and cafes run opposite the beach making them the ideal place to relax whilst taking in the superb view. It’s a nice stroll from Larnaca marina at one end to the ancient medieval fort at the other. Across the road from the marina is a small public gallery and a beautiful paved area built around an ornamental fountain. Some of the buildings in Larnaca are centuries old and many of them have been painstakingly restored to their former glory. A short walk to some of the quaint back streets behind the main promenade will reveal many more that are still awaiting renovation.
The history of Larnaca stretches back further than any other part of Cyprus and the town has been continually occupied since the bronze age. The town is built on the ancient site of Kition which was in fact once the capital of the whole of Cyprus. Legend has it that the original city of Kition was founded by the grandson of Noah and the biblical connections don’t end there. The church of saint Lazarus in Larnaca square is actually named after the same Lazarus that Jesus raised from the dead. The legends say that after his resurrection Lazarus traveled to Cyprus where he became the Islands first Bishop. The church is actually reputed to have been built over his tomb and visitors can go down into the tombs below the building. Like most of the churches in Cyprus Larnaca church is beautifully adorned with icons and intricate decor.
Ideally situated only a few kilometers from the airport the town has become a thriving vibrant community. In 1974 following the Turkish invasion and subsequent occupation of the North of Cyprus Larnaca offered to accept 40,000 refugees. These displaced persons tripled her population to a then 65,000 inhabitants. With great motorway links to all the coastal resorts and the capital Nicosia the town is perfectly located for those wishing to visit the Islands many places of interest. With the recent boom in holiday home purchases Larnaca has also become something of a property hotspot. The fringe coastal villages such as Oroklini make ideal settings in which to own an apartment or villa and the prices are still quite reasonable compared with other parts of Cyprus. In fact many locals are selling up and buying villas in such places due to their out of town exclusivity which in turn is creating some prime locations.
With so much going for Larnaca it is no surprise that it is earmarked by many to be the next Cyprus property boom area. With this in mind many speculators are investing in off plan purchases on these new developments. They plan to profit from the rising market by selling when the developments are completed. The speculation is being further fueled by the proposals of a larger modern marina for the berthing of luxury yachts and a possible golf development. Golf sun and property are part of any speculators mantra so this is bound to affect values. If the area didn’t have more than enough to offer already these new proposals could turn it into an investors dream come true. So maybe if you are looking to invest in a place in the sun you should take a look at Larnaca Cyprus.
Anyone thinking of investing in Larnaca should consider the development of luxury apartments in this south-eastern region of the island. Ranging from compact studio apartments to sprawling penthouses there is plenty of choice no matter what your budget.
Larnaca could be misinterpreted as an industrial town and on first impressions doesn’t always impress. The large port and disused oil refinery are an eye sore and the outer areas of the town need some attention.
However Larnaca is going through a period of change,huge investment by the European Commission has meant investment into the towns infrastructure including new motorways,airport terminal,PGA Golf Course and a 750 berth marina with 120 retail units. All coming in the next 5 years.
The government in Cyprus plan for Larnaca to be THE tourist hotspot for the island and they certainly have the plans in place to achieve it.
So back to the apartments…
Apartments in Larnaca can be bought for a relatively low investment and recent changes have allowed non-Cypriot residents to obtain local mortgages and buy their properties on a freehold basis. With Larnaca’s average house price being one of the lowest in Europe and with 6bn Euros worth of investment being plowed into the island it makes for an attractive combination of high capital growth and strong re-sale value for Larnaca Apartments.
It is worth bearing in mind that the Cypriot Government are imposing strict development restrictions to curb market saturation and prevent any adverse affects on the property market,citing long term growth and healthy returns for investors.
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May 13, 2009 3:09 am | 
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