Larnaca, the third largest city in Cyprus, has long attracted attention not only for its beaches, historic sites and lively seafront, but also for its relatively affordable property prices. It is a place where buyers can find quality homes at lower prices compared to other major cities on the island of Aphrodite. In this blog, we'll take a look at the most affordable areas of Larnaca and talk about what housing options are available if you're looking for a budget-friendly but comfortable solution today.
Why Larnaca?
The coastal town of Larnaca attracts with its convenient location and rich infrastructure. It has everything you need for a comfortable life, including schools, universities, shops, medical facilities and excellent transport links. However, it is the affordability of housing that makes this town particularly attractive to buyers on a budget.
When it comes to budget property in Cyprus, Larnaca is the place to be. There is now such a trend that budget properties are appearing in areas where there are universities. For example, in the area of the American University of Cyprus near Livadia," says Sergio Gumeniuc, DOM Real Estate agent in Larnaca.
This trend is due to the demand for affordable housing among students and young professionals, which is stimulating the development of new projects in these areas.
The options I have on offer are not only affordable, but also of high quality. They are all from reliable developers, what guarantees long-term liquidity and comfortable living - Sergio added
Affordable housing areas in Larnaca
Pyla
Pyla is an area that attracts both locals and investors due to its proximity to the city centre and its peaceful atmosphere. It is also close to the English university UCLan. There are plenty of housing options here that combine modern amenities with affordable prices.
The new Aghabios project in the Pyla area offers 1 and 2 bedroom apartments ranging from 35 to 80m2. Prices range from 90 to 300 thousand euros, making them affordable for a wide range of buyers. This project is in the final stages of construction, allowing buyers to move into their new homes as soon as possible.
Properties available for sale in the Aghabios project
Another interesting development in the Pila area is Ocean Resort. This residential complex consists of 10 1-bedroom apartments, 12 2-bedroom apartments and 4 penthouses with a roof garden. The apartments vary in size from 45 to 77 m2 and cost from 160 to 247 thousand euros. The complex is characterised by a high level of comfort: covered parking, Kone lifts, video intercom and electric gates. Some of the apartments have sea views, which makes them even more attractive.
Properties available for sale in the Ocean Resort development
Livadia
Livadia is another up and coming area of Larnaca that is undergoing active development. Its proximity to the sea makes it an excellent choice for those who want to live close to the beach without overpaying for property.
The Orama Artemis complex, located in Livadia, offers 1, 2 and 3 bedroom apartments ranging from 48 to 95m2. Prices range from 135 to 235 thousand euros. This complex combines modern construction technologies with a convenient location just 1.5 km from the sea.
Properties available for sale in the Orama Artemis project
In Livadia you can find interesting offers, for example the Abraj 126 complex, which offers apartments from 145 to 240 thousand euros. This is an excellent choice for those who are looking for housing in a developing neighbourhood, - adds Sergio Gumieniuc.
The Abraj 126 complex, located in the Livadia district, consists of two floors and offers 1- and 2-bedroom apartments with an area of 51 to 80 m2. The price ranges from 145 to 240 thousand euros. Residents will have access to a communal swimming pool, and each apartment has a parking space and a storage room. The distance to the sea is 2.2 km, making this option an excellent choice for those who appreciate comfort and convenience.
Properties available for sale in Abraj 126 development
Oroklini
Oroklini is a quiet and picturesque area on the outskirts of Larnaca. It offers both traditional Cypriot houses and modern apartments. The area attracts those looking for a quiet life away from the noise of the city without sacrificing convenience. The Antoniou Flats development in Oroklini offers two-bedroom apartments ranging from 71 to 76m2 and priced from €156,500 to €172,000. This project is still in the early stages of construction, so buyers can expect the most favourable conditions.
Properties available for sale in the Antoniou Flats project
Should I just focus on the price?
When it comes to buying a budget home, the first thing that comes to mind is the price. Of course, the cost of a property is one of the key factors when making a choice, especially if you are on a tight budget. However, it's important to remember that the lowest price is not always the best choice. When evaluating a property, it is important to consider not only its price, but also other factors such as location, quality of construction, availability of necessary amenities and infrastructure. For example, a property that costs less may require significant investment in repairs or be located in an area with less developed infrastructure. It is therefore important to strike a balance between price and quality when choosing a budget home.
In addition, buying a home at an early stage of construction (off-plan) can allow you to save a significant amount of money, but this requires waiting and also taking into account the risks associated with possible construction delays, which can be affected not only by local but also global changes.
Larnaca offers a wide range of affordable housing suitable for both personal living and investment. Whether you are looking for a studio for a student or a spacious apartment for a family, this city offers excellent opportunities. With the trends in the property market and the active development of new projects, Larnaca is becoming an increasingly attractive place to buy a home.
Remember, when choosing a property, it is important to consider not only the price, but also other factors that affect the quality of life and the long-term value of your investment. Speak to a professional to get advice and choose the best project to meet your needs and expectations.
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