Buying property at Pyla, Larnaca

[Omega2911]

Hello guys, i'm pretty new to Real-Estate but i came up with an oppurtunity to purchase a 1 bedroom apt 65 sqr at a new upcoming project at Pyla Larnaca. at around 160k euro, i wanted to ask for those who may know the market - how is it going in Pyla, Larnaca? is it good option to purchase a 1 bedroom apt there? Will i have people to rent it? i guess airbnb is out of the picture since it's not touristic area right?
But like what is the rent prices on average there?

[Nigel Howarth]

Hi Omega2911 and welcome to the forum

I suggest you take a look at https://www.zyprus.com/search/sale/grid ... %20Larnaca where you can get a 3-bed penthouse apartment in Pyla for a negotiable €165k.

I think (maybe someone will confirm) that Pyla is in the UN buffer zone that separates the Republic of Cyprus from the Turkish occupied areas of the island.

As for its rentability, see what you can find on airbnb and other rental sites..

Regards,

[Omega2911]

Thanks for your reply!
What do you think the situation is currently in Pyla? You think it will be medium-easy to find someone to rent the apartment to?
You think it will be a well established investment to buy a 1 bedroom apt in Pyla? (it's in a new complex that looks really good, it will be ready in about 2 months).

[Nigel Howarth]

Hi Omega2911

I can'[t say what the rental situation is like in Pyla - it's at the opposite side of the island from me. If you look at https://www.bazaraki.com/real-estate-to ... uses/pyla/ you'll find several properties for rent and the asking prices.

It isn't the ideal place for holidaymakers, most of whom would prefer somewhere closer to the Med.

Personally I feel you'll be better off buying a resale if you really want something in Pyla.

What are your thoughts on the place? Are there good facilities - shopping, restaurants, etc?

Regards,

[Omega2911]

Thanks again for the reply, i've started to study the place. The complex itself is really good. Shopping & Restaurants and etc. I know that Pyla has nearby airport and university. But i'm still considering because i don't really know. Maybe it will be better with a resale like you suggest.
Does not sounds like the optimal property to buy. Although it will be really fancy complex but it is too risky i guess.

[Nigel Howarth]

Hi Omega2911

You'll be much better off buying a resale property with its all-important Title Deed.

Please send me a Private Message with a link to the to the new one-bed your considering and I'll take a look. (Click on the contact bubble below my name.)

Regards,