Astute investors who are looking to make a significant financial contribution or to improve their lifestyle are turning their attention to what is set to be the newest and fastest evolving property hot-spot in the Mediterranean. The unspoilt area of Famagusta on the South East Coast of Cyprus is already attracting major investment from Chinese and European speculators. Such interest is a clear indication of their recognition concerning the outstanding potential that the region has to offer.
The whole area is already part of a carefully structured and scaled development initiative that has seen major investment in both commercial and residential properties. Not least, the exciting Agia Napa Marina project and the luxurious Sun City Hotel Complex that Cyprus’s leading property Development Company The Giovani Group is extremely proud to be associated with.
The ideal location
Situated on the South East coast of Southern Cyprus, Famagusta has retained much of its culture and ethnicity thanks to a long tradition of farming and a village community lifestyle. While the growth in tourism has brought modernisation into the region, it has not, however, impacted negatively on the “laid-back” Cypriot lifestyle. Consequently, the locals are among the friendliest and most welcoming people you could wish to meet.
Peace and quiet are never more than a few minutes’ drive away from the vibrant resorts of Protaras and Agia Napa and there is an abundance of space available to anyone looking to “live the dream”. The miles of meandering coastline are punctuated by quiet coves with soft sandy beaches that are never too far from a welcoming taverna or family run restaurant. Whether you are looking to invest or settle in the area, Famagusta is the ideal location for both.
Steeped in History and Culture
To say that Cyprus has been the home of many different cultures would be something of an understatement and each one has left its indelible mark on the Famagusta area. From ancient burial grounds and secret “cave churches” to the ruined City of Salamis in the North of the region, there is enough to keep any cultural enthusiast happy. The Island is also the home of early Christianity and the Greek Orthodox Church flourishes to this day with a calendar of public religious festivals being celebrated throughout the year.
There is strong evidence to suggest that the area has seen human habitation as far back as the Neolithic period. The once Central City of Famagusta is gauged to have been built around 274 BC after Salamis (along with the other cities on the island) was ruined by a major earthquake. Since then, the area has seen success as a major trading point and a busy port. From Arabians and Venetians to a strong Ottoman Empire influence and finally an English occupation, they have all left their imprint on the Famagusta region.
The Uniqueness of Famagusta
Though it is, of course, intrinsically Cypriot in culture and tradition, the Famagusta area also has its own distinct identity that sets it apart as the Majestic Sunrise Riviera of Cyprus.
Alongside the area’s rural aspect of farming and village life, commercialisation has always been carefully scaled to fit in with the region’s unique geography and community. This approach continues to facilitate a well-balanced mix of commercial and residential development that makes the Famagusta region the ideal place to live and work.
Thanks to the area’s long association with fishing, there are scores of scenic harbours such as the one in the resort town of Agia Napa that are fronted by traditional fish restaurants. All types of pleasure craft and private yachts add to this vibrant harbour lifestyle and it has led to the creation of some beautiful shopping and eating areas within close proximity to the many blue flag, award winning beaches the area has to offer.
A Sun Seekers Paradise
The South East region of the island is always markedly warmer than other areas of Cyprus by at least a few degrees. This means that property owners in the area are able to make the best possible use of their own private pools and bathing off the area’s long sandy beaches. South East Cyprus’s residents are therefore able to enjoy the island’s average of 320 days of sunshine a year to their full advantage.
Apart from the many excellent resort beaches in the area, there are countless bays and sheltered coves to explore where sun seekers can relax away from the stresses and strains of their everyday lives. Whether you prefer the convenience of resort facilities or the peace and tranquillity of isolation, South East Cyprus won’t disappoint you.
Enjoy Cyprus Life with the Locals
The local people of South East Cyprus work hard and that may be one of the reasons why they make the very best of relaxing together. In the villages and towns of the Famagusta area, the family is a number one priority among the Cypriot people. Summer evenings and Sunday’s are the times when many families gather together to cook and relax over a traditional meal of salad, pitta bread, and barbecued meat or fish.
Alfresco is the order of the day and many properties have their own outdoor kleftico oven where they slow cook lamb in the same way it has been done for countless generations. No outdoor meal is considered complete without an invite being extended to the neighbours and foreign homeowners often find themselves sharing a meal with their new found Cypriot friends.
Vibrant nightlife and delicious food
Thanks to the area’s well-balanced mix of Europeanization and retained cultural identity, food lovers are able to enjoy the benefit of a diverse range of cuisine. From virtually every branded “food on the go” outlet and ethnic choice to gourmet dining and traditional Cypriot fare, the area provides food for every taste and occasion. Eating in Famagusta is a mix of laid-back meze style meals, dining in quality restaurants when socialising and coffee shops or fast food options during the bustle of the working day.
Whether you come to Famagusta to live, work, or relax, there is an abundance of nightlife available to you.
Alongside the trendy coffee shops and high-quality eateries, there are plenty of vibrant bars and clubs for the young and the young at heart to enjoy. When it comes to nightlife, of course, Agia Napa is Cyprus’s very own entertainment capital.
Situated on a hill up above the main resort in the old town, it is ideally located away from the more family orientated beach, harbour, and shopping areas.
Outstanding Real Estate Opportunities in South East Cyprus
Right at this moment in time, South East Cyprus, and more particularly the Famagusta area represents outstanding value for money in terms of real estate investment. Work is already well underway in relation to the construction of the brand new Agia Napa Marina project with berthing for luxury yachts. The project also boasts luxury high-rise waterfront apartments that are being quickly snapped up by savvy locals and foreign investors from all over the world.
Thanks to the current levels of interest that both the marina and the Sun City Hotel development have stimulated, property values along the South East coast and the Famagusta area have already started to rise. Real estate experts are predicting that this is only the tip of the iceberg and that as other new projects start to come online, property values look set to continue upward.
Now is the best time for astute buyers to make their investment in the area whilst there is still at least 18 months remaining before the completion of the harbour project. With other projects already underway and further projects planned for the near future, there is still plenty of room for further economic growth in the region.
Famagusta, the Ideal Choice on Cyprus’s South East Coast
When it comes to choosing the ideal location to visit for holidays, when considering relocation, or simply as an excellent return on investment, Famagusta has everything you are looking for. Holiday lettings are running at an all-time high in the area with many owners already reporting a full booking calendar for the year starting 2018. Long-term rentals in the area have also increased and for the first time in many years, the demand for residential rentals has outstripped the supply.
While many other European countries have seen their tourist industry virtually collapsing, Cyprus visitor numbers continue to increase year on year. Every resort along the South Eastern coast has several new hotels and most of the existing ones have been extended and refurbished. Along with this economic expansion have come increased business opportunities and a healthy employment market especially in the tourism and construction sectors. In addition, the island’s cosmopolitan capital, Nicosia is easily commutable being located less than a one hours drive away from the Famagusta area.
For individuals and families that are looking for a quality lifestyle that comes with one of the best value-for-money standards of living, Famagusta and the South East coast of Cyprus tick all of the boxes. With low crime, enviable family values, and one of the best climates in Europe, Cyprus is already recognised as one of the best places in the world to live.