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eZine November 06
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Property Prices in Cyprus Golf resort
We recently wrote to Viceroy Invest members about the amazing increases in property values round the forthcoming Tersefanou Golf Resort, as well as the wider Larnaca district in general. In the Tersefanou area, prices have grown, and are still growing, at close to 15% every 3 months! Members who purchased apartments in Paramount Gardens, next to the Tersefanou development, have seen the value of their investment increase by at least 30% since Easter this year! It seems that this phenomenon is by no means restricted to Tersefanou, however, as an article from the Cyprus Mail of 5th October illustrates. The copyright of this article is owned by Cyprus Mail and we acknowledge this in quoting the following extract from it. "PROPERTY, apartment and detached house prices are expected to increase by seven to 12 per cent in the immediate future, the House Commerce Committee heard yesterday. According to the head of the Land Registry Department, Andreas Christodoulou, Cyprus is the cheapest country in the European Union when it comes to properties, apartments, houses and land. For this reason, he added, many Europeans are interested in coming to Cyprus and investing in land and properties. "From studies that were carried out by the Department, it appears that the value of land will increase when it comes to plots of land, apartments and detached homes, and this is mainly due to the great demand that exists from European citizens," said Christodoulou. He stressed that the increase in prices would be within a legal framework and it would be estimated at between seven and 12 per cent, depending on the area. In some areas the price increase would be higher than in others, he added. Predictably, foreigners are more interested in coastal areas, said Christodoulou, adding that Paphos, Larnaca and more recently Limassol were most in demand with Europeans." Copyright © Cyprus Mail 2006 Other Stories...
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