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New Marina for Paphos

Recently the Cyprus Ministry has said to have approved plans to build a 64 million Euro marina development between Paphos and Coral Bay. The new marina is set to become a focal point for wealthy Cypriots and international tourists and will bring further investment into this already popular area of Cyprus.

This is especially good news for the owners of property in Paphos, Coral Bay, Peyia and the surrounding areas as property prices looking set to rise with increased demand to be near to this new development.

Some land owners near to the proposed site have seen prices triple in the last few months and many people are now looking to buy in the area. Jason Harris of CYCORP commented “It’s still not too late to secure a property or land plot and take advantage of the rising prices, we predict that this area will certainly be a hotspot for property investors and people looking to have a home abroad.

The announcement was made by  government Commerce Minister Antonis Patsalides who has said that the marina is targeted for completion in 2013. It will feature 1000 moorings as well as shops, bars and restaurants and is set to be the eastern meds most prestigious developments.