News of Disney resort set to raise property prices
Property prices in Cyprus will rocket due to plans to build a Disney resort near Larnaca, believes Morpheus Investments.
The government officials has revealed that a Russian investor partnership is planning to build a €800 million Disneyland holiday resort near the town of Larnaca, Cyprus – a big boost to property buyers in the area. The Greek-themed holiday resort is in the final stages of planning approval and has 1,000 rooms, with permission expected to be granted soon.
Derek Hatton, Director of Morpheus Investment’s has said that this is amazing news for the region and will seriously raise the property prices and resale ability. Now is the time to invest in Cypriot property before the resorts are completed and prices skyrocket. He also said that Larnaca is also expecting the completion of its new marina and airport in the near future, which may attract more tourists and raising property prices in the future.
Over 1 million extra European tourists along with the thousands of other worldwide visitors are predicted to arrive in Larnaca to visit the new attraction every year. Meanwhile, visitors to Larnaca is likely to be boosted after the national carrier, Cyprus Airways is slashing its round-trip fares from Gatwick to Larnaca to £179 for trips between January 1st and June 20th, with similar offers in place for those flying from Birmingham and Manchester.
In related news, the Newspaper City AM recently reported that the resorts of Larnaca and Paphos on Cyprus are perfect for long weekend breaks.
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