At last, the eagerly anticipated Agia Napa Marina has been given the go ahead. The agreement to proceed with the development was made between the Ministry of Trade and the M.M.Macronisos Marina LTD back in April.

The Marina, which is set to cost close to €220million, will be made up of residential, commercial, recreational and cultural facilities to be enjoyed by local residents and the floods of holiday makers who visit the resort throughout the year. Developers are optimistic that all work will be completed within three years.

Residents of the region have been waiting for a long time to discover whether or not plans for the marina would progress. Plans have been in the pipeline for many years and a few years back, work did commence but it soon ground to a halt because of disagreements between the parties.

Giovanis Kouzalis of A&G Kouzali Law firm located on the island, spoke to us about what it means for the area: “The new development is fantastic news for the East Coast of the island, which will see increased tourism throughout the year. This will create year-round job opportunities as the development will attract the affluent clientele who are known for favouring the marina lifestyle. The Government have spoken up in support of the development and say that they believe it can make a significant improvement to the country’s deficit”.

The recent agreement led the Cyprus Buying Guide to look in to the kind of properties that you can find in the area. Now is a fantastic time to buy and with such a large-scale development underway, property in the region is set to increase dramatically in value.

We found this fantastic property from leading agent, Sold on Cyprus, located in Pernera, just a short distance from the golden beaches and blue seas of Agia Napa. This two-bedroom, detached villa comes with air-conditioning, shutters on all the windows and most importantly, a private pool and barbeque area. In addition, the villa is being sold along with all furnishings and white goods.

Search for properties in Cyprus on Rightmove Overseas. If you’re planning to buy in or move to Cyprus and need to transfer a large sum of money there, remember to use a currency specialist to exchange your pounds into euros. For more information, visit the Currency Zone.

To understand the full step-by-step process to buying a property Cyprus, collect The Overseas Guides Company’s ‘Cyprus Property Buying Guide’