Apartment for sale

Modern 2 bed apartment in the heart of Famagusta and very near the city mall with a good rental investment with very good infrastructure. Very close to bars, restaurants, supermarkets and not far from the nightlife, also close to the EMU University. Reference No: PW0022

Rental Potential:

Short term: 400 GBP per week in high season and 350 GBP in winters

Long term: 600 GBP per month

Payment Plan:

70% downpayment

30% within one year with 0% interest rate.

The Region:

Famagusta is a fascinating medieval walled city with oodles of charm and lots to explore Thanks to its troubled history Famagusta is in fact two towns rolled into one. The ancient walled city of Famagusta is much as it was over five hundred years ago when Ottoman siege engines lay beyond its walls. Meanwhile the modern-day town and port flourishes Seven hundred years ago Famagusta was the richest city on earth; famed throughout the world for its mercantile magnificence. Famagusta's economy boomed under Venetian rule, fed by trade routes that spanned the globe from England to India. In fact, the city was so well known that Shakespeare chose it as the setting for his play Othello. Famagusta's new wealth spurred on a frenzy of medieval building, many of which can be seen today, including: the Cathedral of St Nicolas, numerous houses, and the remains of the fortified citadel. However, jealous eyes viewed the city under its Venetian masters, and in 1571 the Ottomans invaded and laid siege to Famagusta. They bombarded it with cannon fire for months, but the strong walls and defensive towers (bastions) kept the invading army out. Eventually the citizens of Famagusta had to surrender or starve to death. Famagusta soon slid into decline to become a remote 'backwater posting' that normally signaled the end of an official's career. Ironically this neglect preserved the city. Today the shell of the walled city survives; an impressive reminder of a colourful past.The old city is surrounded by one of the best preserved Venetian fortifications in the Eastern Mediterranean. There are plenty of medieval/renaissance buildings that can be visited. Unfortunately, most of them were severely damaged during the Turkish siege of the city in 1571. Many cannon balls can still be seen in the fortification walls as well as in the walls of these buildings. Especially noteworthy are the Cathedral of St. Nicholas (converted to a mosque after the Ottoman conquest and re-named Lala Mustafa Pasa Mosque) and St. George of the Greeks church with its frescoes. There is plenty more to see if you stroll around the old town, where there is something of interest in almost every corner of the old town, which has been recently renovated and retains much of its historical appeal. Famagusta offers a variety of shops from clothing and gifts to home stores, the Old Town has several specialized souvenir shops for those looking for traditional handcrafted items. There is a wide variety of restaurants both in the old city as well as in the modern city. Those in the old city are mostly located around the Namik Kemal Square and in the modern town, most restaurants and bars are located on the "Salamis Road". Famagusta Quayside (locally known as Palm Beach) has become very popular over the years since the restoration of the area. There are several cafés and restaurants to choose from offering drinks and snacks and a fantastic sandy beach with good facilities and water sports in the summer months. Close by is the buffer zone between the north and south, a deserted ghost town. This part of Famagusta is locked in time and is a melancholy symbol of an island divided. It is now possible to cross freely into Southern Cyprus, you can cross the green line at the nearby border crossing located inside the British sovereign base at Agios Nikolaos.