Property in Larnaca: features of the region

The city of Larnaca is deservedly considered one of the best resorts in Cyprus. It delights with well-kept beaches, clear Mediterranean coastal waters, and ancient history in every stone.

It is the third largest city on the island, located between the three «capitals» — Limassol, Nicosia, and Ayia Napa. It is also the oldest city in Cyprus and one of the oldest continuously inhabited areas in the world. Another essential feature is Larnaca Airport, which makes the region considered the air gateway of the country and receives tourists from all over the world.

The resort is one of the quietest and calmest in Cyprus. Great for holidays with children, retirees, and those who want to enjoy a relaxing beach holiday without the intrusion of loud music and expressive young people.

Suppose you want to buy property in Cyprus. In that case, Larnaca can be the outlet that pleases you with long summers with plenty of sun, quiet relaxation on vacation, constant passive income from rent, and a mild warm climate in winter, if you choose to spend the winter time here.

Features of the city of Larnaca

The resort is mild and smooth but rapidly developing and striving for advanced infrastructure. Many beaches have been awarded the «Blue Flag». This award is given only to the best European beaches, praised for the purity of sand, water transparency, environmental friendliness, tourist infrastructure, gentle access, and safety for adults and children.

Larnaca is the largest transportation hub on the island. In addition to the airport, a large port can accommodate up to 400 ships of up to 40 meters in length. However, the city authorities do not stop there and are reconstructing the port, increasing its capacity, and introducing high technology to attract even more tourists and investors over time.

In addition to the port, a new marina is also under construction, which, according to the developers' plans, promises to be fantastic. Because of the active renovation of the coastal infrastructure zone, the activity of residential and commercial real estate developers has increased. New complexes of apartments and premium-class villas are erected, the price rises and new investors are attracted. In a few years, real estate in Larnaca will be at the top of the rankings and will be extremely popular, so do not miss the opportunity to buy an apartment in Cyprus in Larnaca in the boil area while its price is not so high.

Another feature is the location of the city of Larnaca. The site is very convenient, as it takes 30-45 minutes to get to Limassol, the capital of Nicosia, or the resort of Ayia Napa. Traffic on the highway is not heavy, traffic is low, and the roads of Cyprus are recognized as some of the best in Europe. So there is nothing to stop you from moving between neighboring cities if, for example, you live in Larnaca and work in Limassol or if you have an appointment in Nicosia.

It is also worth mentioning the Old Town of Larnaca. The modern resort stands on the ancient city of Kition, which existed more than 6 thousand years ago. Archaeological curiosities, imperishable monasteries and churches, ancient sculptures, medieval castles, and excavations of ancient settlements are concentrated within the city. The design combines modern new buildings and millennia-old structures, creating a unique flavor of Larnaca.

Life here is interesting. It's measured, relaxed, but curious. And the prices, by the way, are lower than in Nicosia or Limassol.

Low prices and the high level of first-class resorts significantly increase the demand for long-term apartments for rent in Larnaca. Apartments for rent are in need even in winter because many retirees from Europe come to spend the winter in warm Cyprus.

Larnaca is quiet in winter. Tourist traffic drops to almost zero. Winter lasts from November to April, but this does not mean the onset of cold weather. The temperature during the day rarely drops below 16°C. The weather is mild, humid and warm, but the sea for swimming is quite remarkable. Nevertheless, it is enjoyable to spend the winter here, because it's always very sunny.

So if you buy property in Cyprus in Larnaca, you can rent it in the summer season, receiving an excellent monthly passive income, and in winter, live in your apartment or villa, enjoying the peace.

Properties in Larnaca: what to choose?

Now Cyprus is actively developing the sale of real estate in Larnaca. The reconstruction of the port and the construction of the marina was an improvement in infrastructure for yachts and boats and the impetus for the emergence of new apartment complexes directly near the waterfront. Housing in Larnaca has long been in high demand, but it will be a peak close to the marina.

The following properties represent the property in Larnaca:

  • apartments;
  • studio apartments;
  • villas;
  • semi-detached villas;
  • townhouses.

Villas in Larnaca are built in complexes of several units to several dozen in one complex. Sometimes villas are included in the same complex as an apartment building. There are also adjacent villas, which have one shared wall. This type of layout allows you to save money when buying but not lose the benefits of living in your mansion — you will have a private yard, a recreation area, and a barbecue, a possible swimming pool.

Many elite properties are located near the port and beaches of the city. If you buy a house in Cyprus in Larnaca, just such a place, you will not have a shortage of tourists wishing to rent an apartment. With personal residence, you can enjoy all the benefits of the Mediterranean.

Larnaca property prices: what does it depend on?

The price of apartments and villas may not vary much because it is formed considering many other factors. But still, it is usually cheaper to buy property in Larnaca than in other cities because the price tag in Limassol and Nicosia can be twice as high.

How is the price of the property calculated?

  • how far the property is from the sea — the closer, the more expensive;
  • how big are the area of the house and the yard;
  • what is included in the internal infrastructure of the complex and its landscaping;
  • the quality of the building and finishing materials;
  • at what stage did you buy the object — in the trenches or already completed building.

If you want to buy a house in Cyprus in Larnaca, pay attention to the location, the size of the yard, the number of floors, the number of verandas, and built-in functionality — all these points are included in the price. Let's talk about buying an apartment in Larnaca. It is worth paying attention to the infrastructure of the apartment complex — is there a swimming pool, cafe, store, gym, recreation area, and barbecue? If so, it will be included in the cost, purchase stage, and payment of utilities when you live.

SPM Real Estate specialists will help calculate all points and optionally build a business model so that you buy the most effective property in Cyprus.

What you get when you buy a property in Larnaca: bonuses

Investing in real estate in Cyprus and buying a villa or apartment in Larnaca offers you several advantages:

  • a mild tax climate and some of the lowest tax rates in Europe (only 12.5% corporate tax), which allows you to optimize your business;
  • a good ROI (from 8% p.a. on average), which gives a high return on investment, as the real estate market and demand have been steadily increasing over the last 3 years;
  • security, because Cyprus is the 5th safest country in the world, there is almost no crime, and even minor offenses are rarely met;
  • high standard of living — the country is a member of the European Union, is a member of the Eurozone, and is governed by the British legal system;
  • the rapid receipt of the permanent residence permit, as if you buy real estate for €300,000 plus VAT, you will get a permanent residence permit in Cyprus on an expedited procedure for 2 months. In 7 years after obtaining the status of permanent residence in Cyprus, you can become a citizen of this country.

What other real estate can I buy in Cyprus?

In addition to residential real estate in Larnaca, you can buy an effective commercial property in Cyprus:

  • shops;
  • offices, co-working spaces, and innovation hubs;
  • shopping and entertainment centers;
  • cafes, restaurants;
  • hotels and apart-hotels;
  • medical clinics;
  • kindergartens and schools.

Depending on your life and business goals, our experts will help you choose the best property for investment.

Contact SPM Real Estate and buy Cyprus real estate to make your dream of a beautiful life come true!

Your most valuable contact in Cyprus — SPM Real Estate.

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We, SPM Real Estate team, provide our users with reliable and comprehensive information concerning buying and renting residential and commercial real estate, as well as covering variety of domestic and legal issues.

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