Interested in Opening a B&B with partnership

[LadyLovesCyprus]

I own some property flat land adjacent to the new industry buildings outside the perimeters of the lovely mountain Village of Lefkara. Considering building on that property rather then selling! anyone with advice and or insight to whether or not that would necessarily be a good idea. --- Will be expating there in the next two years - Business ideas and or partnerships considered. Also interested in real estate values for home to purchase in Paphos near shopping/beach prior to move. Any feedback on best location/town?

[Cleo Shahateet]

Just confused a bit if you are trying to decide whether to build a B&B on your land or a home on your land? And also buy a home in Paphos? Lefkara and Paphos are pretty far apart. Are you trying to decide on one area or the other?

As for building on your own land, I think most people can give you the pros and cons of new builds and the potential stress/complications that come with it, but once finished you get a brand new home that you designed! Since building in Cyprus is done differently than in the US, it takes much longer. As for real estate in Paphos, home prices have fallen considerably and there are good deals on many resale properties.

[Veronica]

My concern about your plans would be that although Lefkara is a lovely village and the whole area is stunning, if your land is next to an industrial area as you say, who would want to stay in a B&B in such a location?
As Cleo says, prices of properties have fallen considerably in recent times and most vendors are still open to offers below their current asking prices. There are some real bargains to be had now.

[kimonas]

Pano or kato Lefkara? I'm not aware of any industrial areas in either location. I do know that the whole area has recently been zoned by the council, so permissions to build etc and what could be built would depend on exactly where your land is located. there's actually quite a lot of development work and rennovations going on in both locations but many of the rents and new builds stand empty. I'm not sure a B&B would be successful in either area under the present economic circumstances....

[SWJ]

Not sure if a B&B is right either

[zin]

Most of those areas have agrotourism.

Cyprus Agrotourism Company

[LadyLovesCyprus]

Originally Posted by kimonas

Pano or kato Lefkara? I'm not aware of any industrial areas in either location. I do know that the whole area has recently been zoned by the council, so permissions to build etc and what could be built would depend on exactly where your land is located. there's actually quite a lot of development work and rennovations going on in both locations but many of the rents and new builds stand empty. I'm not sure a B&B would be successful in either area under the present economic circumstances....

Thanks for the advice - Think i'll just keep the land as is for now- I most recently had it leveled for potential buildings , by a local contractor. Dont know if leveling boosts the resale value or not? - Your right there are no industrial complexes there, wrong term had been used . The Dream of a Bed and Breakfast is probably not feasible.