Inexpensive Cyprus Apartments In Larnaca, Unbelievable Prices

If you have always dreamed of owning a little piece of Cyprus property for sale then take a good took at inexpensive Cyprus apartments in Larnaca,you will be quite taken aback at the cheap prices on offer at this moment in time. Whether you choose a costal property or further inland you can be guaranteed excellent value for your investment.

If you grab yourself a Cyprus country map you will see that Larnaca lies on the Eastern side of the Island and plays host to one of the Islands two major airports,the other being Paphos. So once you have landed you can start your holiday fun without the need to travel far to reach your destination. Larnaca has miles of beautiful beaches and a seafront that has recently been re modernised and it is quite romantic walking along the sea front on a balmy summers evening. The marina in Larnaca plays host to some of the most amazing yachts you’re ever likely to see.

Cyprus developers are almost giving away their properties,inexpensive Cyprus apartments in Larnaca are such good value you will be astounded at what you see. There is so much choice from a small studio apartment right up to the luxurious penthouses that have you looking out to the miles and miles of Mediterranean. If you buy inexpensive Cyprus apartments off plan then you could save a substantial amount,which means you could invest in a bigger property or even buy two!!

Whether you are planning on purchasing one of the inexpensive Cyprus apartments in Larnaca as a permanent residence or just a holiday home you can be guaranteed of a cheap flight to Larnaca. Cyprus has just opened its doors to the budget airlines so they are all competing for your custom and are offering ridiculously low fares.

Now is the best time to invest as economists have predicted a steep price rise within the next year so your inexpensive Cyprus apartment in Larnaca could well double its value within the next year or two. Where else would you get that kind of return on an investment? Inexpensive Cyprus apartments in Larnaca,or indeed anywhere on the Island are one of the best investment options as prices are cheap and with the predicted rises in the next few years you cannot go wrong.

The east-west and north-south motorways that link Paphos,Agia Napa,Nicosia and Larnaca intersect on the outskirts of the town linking it conveniently to all parts of the island making it logistically the perfect location for your Cyprus property.

Larnaca is only a short 40 minute drive from the Islands capital Nicosia,which is a shoppers haven,there are many of the large department stores you will find in London and many designer boutiques,so if a spot of shopping takes your fancy then you do not have far to travel. Nicosia is a mixture of cosmopolitan and old town which makes for some delightful strolls around.

Larnaca lies approximately 65kilometres from Limassol which is a beautiful area,with plenty to see and do. Limassol plays host to the Islands main port there is also a 1,000 boat marina being built in the heart of the town which promises to be outstanding with some nice restaurants and coffee bars.

Book yourself a cheap flight to Larnaca Cyprus,grab yourself a Cyprus country map and have a good look at the inexpensive Cyprus apartments in Larnaca for yourself,or even a little further inland,we are certain you will be amazed at the excellent value for money that Cyprus property for sale will offer.

Investment Homes - Larnaca

Larnaca,located in the stunning south east corner of Cyprus is currently undergoing an expansive redevelopment phase funded by just over 3.5bn Euros. Double digit growth is predicted in the property market in Larnaca and this makes investment in off-plan property in the region extremely attractive.

So what is the “double digit” growth actually based on?

Recently valuations by Alpha Bank,Cyprus’ second largest bank have shown a 20%+ increase in property values around the area,especially in village of Pyla,where there is current UK investment in off plan property.

These figures are based on the predicted increase in tourism and the redevelopment of the islands infrastructure to cope with demand. Planning restrictions for development density also mean that market saturation,like we have seen in Spain over the last few years,will be avoided which maintain property prices over the coming decade.

Three key points to note are the development of the first PGA managed Golf Course on the island just minutes drive from Larnaca,the redevelopment of Larnaca’s oil refinery into a 750 berth marina with 120 retail units including bars,restaurants and shops and the construction of the new airport terminal which on its completion in November 2009 will see the introduction of budget airlines such as Monarch and Easyjet enter the market making Cyprus an affordable yet upmarket mediterranean destination.

Unlike most of the other countries that have entered the EU recently such as Bulgaria,Cyprus already has an established expatriate and tourist base. Coupled with the fact that the average house prices in Larnaca are some of the lowest in the Euro zone,it promises to give a healthy return to any property investor who takes advantage of the market sooner rather than later.

Many people follow the misconception that overseas property investment is complicated and risky due to lax planning laws and problems with land/property ownership as we have seen in areas of Spain and Italy,however Cyprus has imposed strict licencing and planning restrictions meaning that not just anybody can buy land and build on it. The main plus point that should put would be investors minds at rest is that Cyprus has the same lad registry system as the UK where title deeds are registered and held documenting legal ownership. The other major factor for investors to consider is that land and property can be purchased on a freehold basis making ownership definite and investment secure.

Larnaca - From Ancient Civilisation To Tourist Destination

Legend has it that the first settlement in the area that became Larnaca (then known as Kition) was founded by Noah’s great-grandson Kittim. At one time Kition was the principal colony in Cyprus,of the ancient civilisation of Phoenicia until becoming part of the Greek Hellenistic world.

The ancient site is at the north end of modern day Larnaca,with the earliest remains believed to go back to the Mycenean age (circa 1400-1100 BC). It was during this period that The Kition City Kingdom was established by the Greeks,and it enjoyed the dual position of being both a rich port and a major centre of the copper trade. It is also alluded to,in a list of allies of King Assurbanipal of Assyria,that Kition was still a recent settlement in the 7th century BC. The discovery of an official monument of King Sargon II also suggests that Kition was the administrative centre during this time.

During the Ionian Greek revolts of the 4th century BC,Kition led the side that was loyal to Persia and was besieged by an Athenian force in 449 BC. Relics from this siege can still be seen at Larnaca’s ancient site.

The Byzantine period of Larnaca was of great importance. This period left many great monuments,including the 9th century AD Basilica of Saint Lazarus - a stunning reminder of Larnaca’s rich history. The town regained its former standing during the time it was under Ottoman rule,when it became the diplomatic and commercial centre of Cyprus,and it was into Larnaca that the British landed in 1878; thus beginning their rule of the island - a rule that lasted until 1960.

The more recent development of the city follows the fast development of the entire country. Larnaca’s population in 1973 was just 22,000 but after the Turkish invasion of 1974 when 200,000 people were forcibly displaced by the Turkish army,Larnaca welcomed over 40,000 refugees,tripling its population practically overnight,adding another chapter to its history and helping to reinforce its growing reputation as a prime tourist destination,with car hire in Larnaca helping visitors discover the ancient site and monuments for themselves.

Being in existence from the early dawn of history,Larnaca has had its fair share of visitors over the years with the Greeks,the Persians,the Egyptians,the Romans,the Venetians,the Turks and the British having occupied the land at one point. The visitors continue to come to the city to this day,with three million tourists entering Cyprus annually from Larnaca’s airport,Port and the Marina,eager to take a step back into ancient times.

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.