British Airways magazine praises Larnaca property
Larnaca makes a remarkably fertile ground for property investors, second home buyers and retirees from across Europe because of excellent infrastructure, according to British Airways magazine.
Alexander Garrett has written an article Larnaca at large in the December 2008 issue of the British Airways magazine ‘Business Life’ about that how the town is pressing its case to be considered by anyone planning a home in the Eastern Mediterranean. He has written that there are plans to encourage overseas property investors to the Larnaca area as the creation of a significant golfing resort, plans for the marina both of which are currently stalled due to government deliberations but the problems are expected to be sorted out soon. The town officials have stated that Larnaca is to get a facelift, which is expected to be completed by the summer.
Larnaca has a number of natural and already established benefits and features - it has an international airport which is being significantly expanded to the tune of 600 million euros and already tourism numbers and flight volumes through the airport are up. Larnaca has a long sandy beach right up to which the town has already been developed. In addition to these factors, the 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 instance, property investors can currently purchase a bespoke, luxury family house which has been kitted out with the highest grade furnishings for just over CYP 400,000 whereas such a luxurious property in Nicosia would set you back upwards of CYP 600,000.
Property in Larnaca in Cyprus today is an exceptional investment as the town is under major redevelopment and improvement, the climate is outstanding and the availability and quality of properties in this part of Cyprus are impressive.
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