10 reasons to invest in property in Protaras

10 причин инвестировать в недвижимость Протараса
6 October 2022 Irina Starinskaia
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Protaras is a small resort village in the southeast of the island, which is part of the Paralimni municipality of Famagusta.

It is known throughout the world as one of the most beautiful resort towns in Cyprus. Protaras is still quite young, with no more than 20 thousand inhabitants, but the city is developing and every year attracts an increasing number of tourists. Let's talk about why it is worth investing in Protaras real estate today.

No. 1. Quiet resort next door to loud Ayia Napa

Located away from the noisy resort areas, Protaras is the ideal place for a family holidays and relaxation on the Mediterranean coast. Here you can comfortably stay in a hotel, rent a house or even buy some property.

From Protaras to the nearest major tourist center - Ayia Napa - is only 15-20 minutes by car or local bus. The town is separated from other areas of Cyprus by the picturesque Cape Greco. On the other hand, the town borders the territory of Northern Cyprus.

No. 2. Developed infrastructure: from a wasteland to a luxury resort

Since ancient times, the territory of the town has remained practically uninhabited and even wild in places. Until the 1970s, Protaras was a tiny fishing village. The events of 1974, when Cyprus was divided into Turkish and Greek parts, determined the fate of the town as a new tourist center. Beaches with golden sands, inherent in the southeastern region of the island, are now only here in Protaras. Until 1974, the resort of the now occupied city of Varosha was popular.

Twenty years ago there were only a few tourist sites in the city, and today it is one of the most popular and beautiful tourist resorts in the world.

The architecture of Protaras is simple and unpretentious, represented by modern and functional stone houses with a maximum of 2-3 floors, and several churches in the medieval style. New luxury buildings stand out for the quality of finishes and materials. The city will not surprise you with old buildings. The adjacent territory of buildings, as a rule, is decorated with lush gardens with bright flowers and well-groomed trees.

In the evenings, numerous restaurants and cafes are open in Protaras. The streets are filled with the sounds of live music and the conversations of tourists from all over the world. The city has several large supermarkets and clothing stores.

Number 3. The most beautiful beaches in Cyprus are in Protaras

Connoisseurs of a relaxing holiday on the Mediterranean coast come to Protaras. The developed infrastructure allows you to spend time with pleasure and comfort.

Fig Tree Bay in Protaras is a truly heavenly place. Having been here once, it is difficult to change the location for a beach holiday in Cyprus. The wide line is covered with soft white sand, the water is azure clear and clean. At the height of the summer season, the bay is overcrowded and vacationers move north to the coast of Vrisi. For families with small children, Flamingo Beach with a gentle entrance to the water is recommended.

All beaches are superbly equipped. Cafes and water sports equipment rentals are open almost all year round. To the south of Protaras is the most popular beach of Ayia Napa - Nissi Beach, famous for incendiary parties near the water.

No. 4. Ecology of Protaras

Despite the fact that each family in Cyprus has an average of two cars, in Protaras, even near the main roads, there is no heaviness and gas pollution in the air. The aroma of sea water and notes of conifers heal the respiratory system and relax.

The beaches of Protaras have been awarded the Blue Flag, which is a modern quality mark of the European Union, which means full compliance with European standards. People come here for snorkeling even with small children, which is facilitated by the shallow sea and friendly underwater world without unexpected surprises in the form of sea urchins and poisonous inhabitants.

No. 5. The authorities of Protaras are actively renovating the resort

Local authorities are actively seeking to increase the investment and tourist attractiveness of the resort town, creating numerous indoor and outdoor recreation areas.

As befits a resort, the main attraction of Protaras is its waterfront, along which there are souvenir shops, food courts and traditional taverns with fresh seafood, themed bars with live music. Currently, the promenade is being actively reconstructed.

After the completion of the promenade renovation project, the Protaras promenade will increase to 15 km - an ideal distance for jogging and cycling. The total cost of the promenade renovation project was 6 million euros. Investing in real estate in Protaras has now become really fashionable.

No. 6. Attractions

The nature of Cyprus is so diverse that literally at every kilometer you want to capture how the landscape changes along the amazingly beautiful rocky bays. But Protaras also has a classic list of attractions that everyone who came here for the first time tends to visit.

The famous Church of Profitis Elias, which was erected on top of a 100-meter hill in the 14th century, is located very close to the city center. To climb it, you need to overcome 150 steps on the stairs. During the hot tourist season, the ascent is best undertaken at dawn. From the hill there are magnificent views of the city and its surroundings.

Cape Greco is the most romantic place in the southeastern part of Cyprus. The lands of this zone are a natural reserve and landscapes do not change over the years. Those who climb to the top of the cape have a breathtaking view of the Mediterranean Sea and the rocky coastline, adorned with caves and sheer cliffs.

Protaras has the only oceanarium in Cyprus. A small corner of marine life will be interesting for children of any age. If during an evening walk along the promenade you turn behind the central McDonald's, you will see the popular Show of dancing fountains, accompanied by music and special effects.

The city has a historical museum representing the life and life of the Cypriot people of different eras and the archaeological finds of Protaras.

At 10 km is the city of Ayia Napa, which attracts many with an active nightlife during the tourist season. Middle-aged kids will definitely enjoy the Paliatso amusement park, which opens at 6 pm.

No. 7. Moderate property prices in Protaras

Tourists are attracted to Protaras by the fact that it is quite easy to find accommodation for rent for any budget. A 1-bedroom apartment costs about 30 euros per day, a hotel - 75-400 euros per day, a villa - from 100 euros and more. Long term rentals are also very affordable. Ten minutes from Fig Bay, a 3-bed house costs 1,300 euros per month. For those who plan to stay in Protaras for longer than one year, it is beneficial to immediately arrange a long-term lease.

Protaras is not the leader in price growth and lags behind Paphos, Limassol and Larnaca in terms of the number of transactions with foreigners. The number of coastal real estate purchase agreements has not yet risen to pre-pandemic levels in 2019. But this will not be forever. Gradually, the market will stabilize, and the focus will shift towards the controlled areas of Famagusta.

Today, the cheapest real estate in Protaras is estimated at 69 thousand euros. This is a secondary 1-bedroom apartment with a total area of ​​48 m2 on the first floor of a two-storey house built in 1995 in the Kapparis area, 500 m from the sea.

The most expensive real estate today - a hotel with 172 rooms, 150 meters from the most beautiful azure beach - is estimated at 30 million euros.

The average price per square meter in a new building in Protaras is 1,800 euros. Basically, spacious luxury housing with all amenities is being built here. A new 3-bedroom apartment with a communal pool in the Kapparis area can be bought at a price of 265 thousand euros (+VAT). New 3 bedroom house with a private pool in the same area is valued at 482 thousand euros (+VAT). Highway access to Larnaca is only 3 km away.

For true connoisseurs of nature and natural luxury, 5-bedroom villas with natural finishes, heated pools and magnificent gardens are already available for purchase.

The disadvantages of Protaras include the infrastructure built exclusively for tourists. For a permanent residence of a family with children, the city is not suitable for everyone.

No. 8. Distress property in the historic center

Invest in dilapidated real estate in the town center? It's not really about Protaras, as it's difficult to find the center. Nevertheless, the central square can be called the historical center. There are many dilapidated inexpensive houses. If they are repaired and decorated in a traditional Mediterranean style, the house can be profitable.

Travelers are attracted to Protaras by a combination of quiet cozy bays lined with soft light sand, rocky landscape and rapidly developing infrastructure. At the same time, there are few traditional houses for rent in Protaras.

No. 9. The flow of emigrants to Cyprus continues to increase

In terms of investment, the local real estate market of Protaras is growing more slowly than Limassol, Nicosia and Larnaca. At the same time, hospitable Cyprus cannot endlessly accept migrants. With rental prices nearly doubling since 2021, supply is drying up. Highly qualified specialists who have the opportunity to work online will go to Protaras - a truly fabulous and inspiring place for relocation. Distance to Nicosia 97 km, to Larnaca 41 km, to Limassol 121 km.


No. 10. Life in Protaras in winters is very calm and measured.

For those who quickly get tired of the crowds of tourists and want solitude surrounded by luxurious nature, winter Protaras is a real paradise. In the period from late October to early spring, silence reigns here. Most hotels close during the off-season. Only a few coffee shops operate at full capacity so that every resident has a fragrant croissant and coffee in the morning. At the same time, the city remains the most comfortable, flourishing and safe place. An ideal environment for inspiration for new achievements.

All available properties for sale and rent in Protaras.

Interested in housing in Protaras? Contact DOM Real Estate by phone +357 23 010149, or visit us at: Protaras Avenue 243, Paralimni 5290, Famagusta, Cyprus.

Read also:

  1. The best residential family gated complexes in Limassol
  2. GESY General Health Care System in Cyprus
  3. Villa or apartment: what to choose for living in Paphos?
  4. Is it profitable to buy land in Cyprus and build a house on your own?
  5. How profitable to rent an office in Cyprus?
  6. School close to home: options for buying property near the most popular educational institutions in Cyprus
Source: DOM
Photos: DOM, Pixabay
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Майя
29 November 2022 3:01
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Олег К
3 December 2022 11:26
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€ 600 000

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€ 1 260 000

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€ 125 000

Apartment for sale

€ 182 000
Компания «Dom Real Estate» Контакты:
Адрес: Limassol, Cyprus,
Телефон:+357 25 212 212, Электронная почта: info@dom.com.cy