Welcome to Cyprus Property Plus
Buying In Northern Cyprus Article
For a permanent link to this article, or to bookmark it for further reading, click here.
Investment Properties in the Fourth 18 Hole Signature Golf Course in Larnaca, Cyprus
from: by Investors Provident Ltd.Backed by the European Golf Federation, the new 18 hole golf course will soon start taking shape in Larnanca. Investment opportunities here start from CYP68,500 with a minimum capital uplift potential of between 40% to 60% in 2 years time. Similar apartments in existing golf courses are selling for over 50% more expensive today.
One of the first new golf courses planned for Cyprus will soon be taking shape a few kilometres outside Larnaca, in the valley of a small village known as Tersefanou. This spectacular project is developed as an 18 hole signature golf course designed and backed by the European Golf Federation. At present, there are only three golf courses in the whole of Cyprus, and all are located in the surrounding area of Pafos. By offering a resort catering for high quality hospitality services to foreign and Cypriot citizens, this new course is aimed at increasing the Cyprus tourism market and to make a positive contribution to the Cypriot economy.
The resort will feature a hotel, club house with multiple restaurants and bars, a state of the art business centre, equestrian facilities, a retail village complex, entertainment area and spa, a number of villas, 1,000+ apartments and a 6,000m golf course - all lying in a scenic valley with beautiful natural rock formations and grand trees adding maturity to a relatively new course. With the apartments and villas being built over four phases, some of them are situated on the hills around the course and will have magnificent views overlooking the Mediterranean Sea. The resort is designed to be a comprehensive and integrated golf and leisure resort that combines the advantages and privileges of living in Cyprus.
There are currently three major golf courses in Cyprus and with the golf craze sweeping the island, plans are underway for the development of four or five more within the next five years. The present three are situated very much in the same region of Pafos, with the three new 18-hole golf courses ones planned in the districts of Limassol (Pentakomo), Larnaca (Oroklini) and Famagusta (Agia Napa) by the consortia of local authorities and hoteliers.
In the cases of Oroklini and Agia Napa, the government has decided to offer public land to the consortia on a long-term lease. The relevant environmental impact studies have already been completed.
The Cyprus Golf Federation, which was elected as a new member of the European Golf Federation in 2001, has joined 31 other countries in promoting the sport in Europe. It has been active in organizing local golf tournaments and matches with British golf societies, and the PGA has been to Cyprus to inspect the golf courses. For the last two years, the Federation has organized the first and second annual Cyprus Amateur Golf Open Championship Tournaments which took place at the golf clubs of Tsada and Secret Valley and attracted golfers from 15 countries in Europe and the US.
Investors Provident have secured the rights to 13 apartments in a development called Regal Gardens on this fourth 18 hole golf course in Larnaca. Situated only 500m away from the course, all apartments in this complex will include light and airy living spaces complete with terraces and/or balconies with views of the course and surrounding area. The complex will include gardens, swimming pool and tennis courts for recreational purposes. The current master plan and space allocation has been modified by a consortia of local authorities and hoteliers to reflect the predominantly apartment orientated concept.
Our research today shows that these golf properties will significantly increase in value during the build program of 2-3 years. If compared with current prices of similar apartments on the three existing courses in Cyprus, it can be seen that there is a potential for a minimum capital growth of between 40% - 60% within the next two to three years.
Key Facts about Regal Gardens & Surrounding Area:
- All apartments in Regal Gardens will have commanding views of the sea and the horizon and the golf course
- Approximately 500m from the golf course
- All apartments come freehold with terraces, gardens and balconies
- Communal areas will include two tennis courts and swimming pool
- Whole area will be extensively landscaped with local species of trees and other plants
- Pre-launch availability of all apartments on only the 4th 18 hole golf development on the Island of Cyprus
- Only 30% payment required upfront and no further payments until June 2006
- Properties on the three existing golf courses are well over 50% of the pre-launch prices
- Capital growth potential of between 40% - 60% in the next two to three years
- Option to resell at anytime before completion in January 2007
- A few kilometres west of Larnaca and an ideal spot for holidays
- 7km to Larnaca Airport, 10km to the City Centre, 5km to the beach, and less than 1km to the golf course
- One car parking space included with each apartment
- 10 years building guarantee on all apartments
- Prices start from only CYP68,500
For further information, please contact:
Investors Provident Ltd.
Tel: 0044 870 1999 859
http://www.investorsprovident.com
Buying In Northern Cyprus News