Investment Property in Cyprus
Locations - Neo Chorio
Natural beauty
The Neo Chorion area is situated on the west coast of Cyprus, and is popular with tourists looking for a peaceful break in a naturally beautiful part of the island. With the Akamas National Park to the south and the west of the area, and the stunning Chyrsochous Bay to the north, there is a growing demand for a well-located property in Neo Chorio to rent as holiday accommodation.
Tourist favourite
In recent years, tourism has changed the face of the village. It was practically derelict until the mid-1980s when pioneering buyers starting renovating its charming stone village houses. These are now sought-after and a popular destination for self-catering holidaymakers and “upmarket” package holiday firms from the UK. The area generally attracts wealthier visitors, from Cypriots coming down from Nicosia for the weekend, to visitors travelling over from the UK and the rest of Europe.
Renovation projects
Unfortunately such village houses rarely come on the market these days and are expensive when they do. Consequently, attention is turning to the surrounding “ghost hamlets” such as Smigies, Fasli and Androlikou, where lots of derelict stone houses can be found. Residents of Nicosia have started renovating these as weekend homes, and UK buyers are starting to follow suit.
Tasteful development
Neo Chorio has also seen a marked increase in the level of new-build activity in the area, and so far this has been of a reasonably high standard and low density. Indeed, its proximity to the protected area of the National Park means that over-development is unlikely, and as the area grows, improvements to its facilities and infrastructure will only increase the value of real estate in the are.
Quiet community
The Neo Chorion area includes a stretch of coastline with a number of quiet, sandy coves. The actual village of Neo Chorio is set inland from the coast. It is a quiet community with a typically Cypriot feel, based around a church and town square in the centre. Recently the village has become known for its Easter festival, which features live music and local delicacies, as well as very competitive local games such as tug-of-war.
Related items
Documents and Reports
Cyprus property investment report (373Kb) |
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Cyprus country guide (766Kb) |
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Cyprus property buying guide (979Kb) |
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