Overseas Property Investment
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.
Tags: bms homes, cyprus, investment, Larnaca, overseas, property
Uncategorized | admin | 
March 16, 2009 3:09 am
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