Larnaca Apartments
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.
Tags: apartments, bms homes, cyprus, Larnaca
Uncategorized | admin | 
February 9, 2009 3:08 am
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