A Quick Guide to the Property Market in Famagusta


A Quick Guide to the Property Market in Famagusta

 The property market in Cyprus has been looking good after a long, long while and this is certainly a very time to get involved, as a seller or as a buyer. There is plenty of money to be made in Cyprus properties.

Of particular interest is the historic city of Famagusta that lies on the eastern coast of Cyprus. Famagusta is well known for its harbour, considered to be the deepest harbour in Cyprus.

It is also well known for its historic monuments, which go back to the days when the Romans had an outpost here. You will find ancient Roman structures such as amphitheatres, public baths, royal tombs and mosaics.

Why Famagusta?

What makes Famagusta an attractive place to buy property is that although it is an ancient city, it is remarkably well run. The local city administration has done a lot of work to preserve the city’s biodiversity, architecture and heritage.

There are so many historical landmarks worth visiting in Famagusta such as the   Monastery of St. Barnabas, which was built in the honour of Cyprus’ patron saint. A tall, majestic structure called, Othello’s Tower, overlooks the sea, and famous for its impressive Gothic wall, and of course, the Venetian Palace.

The Venetian Palace was probably an inspiration for famous French novelist Alexandre Dumas’s book, The Count of Monte Cristo. It was a large, majestic palace that was destroyed in a way in 1571 and then converted into a high security prison. It remained a prison until the 20th century.

 Famagusta Today!

 Today, Famagusta is a well known education centre, a college town, and the home of the Eastern Mediterranean University, one of the major institutes of learning in this part of the world. As a university town Famagusta is home to tens of thousands of college students.

You will find them hanging out everywhere, on the streets, in the markets, in coffee shops, nightclubs and bars, especially at the Salamis Road, which is the most hot and happening place here.

The Property Market in Famagusta

There is a huge demand for properties in Famagusta. Of particular interest are the areas of Paralimni, Protaras and Ayia Napa. Let’s quickly review these areas.

Paralimni – Paralimni is a very modern neighbourhood with lovely homes with gardens, pools and roads lined with tall trees. It is a very nice and calm family friendly place and safe for children.  There are many shops, boutiques, coffee houses, bars and supermarkets close by.

 Protaras – Protaras is one of the most beautiful areas in Famagusta with ancient churches, sea caves, windmills and other landmarks.  It has a large British and Scandinavian expat community and is great for families, couples and singles.

Ayia Napa – Ayia Napa is well known for its lovely beaches.  The climate is perfect around here for much of the year. There are plenty of opportunities for water sports such as snorkelling, windsurfing, swimming, scuba diving, kayaking and more.  There are many nightclubs and bars here, so you can expect a lively nightlife.

 




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