Should you buy property in Larnaca?

Стоит ли покупать недвижимость в Ларнаке?
1 February 2021 DOM LiVE
3169 0

You have decided to buy a property in Cyprus, but you are not yet sure which city to prefer. Why not take a look at Larnaca?

Larnaca is the third largest city in Cyprus. It houses the country's largest airport and one of the largest seaports on the island. Larnaca district is in no way inferior in its diversity to other areas of Cyprus.

Is Larnaca suitable for buying Cyprus real estate (a private house or an apartment)? Here we are going to provide you with several reasons for and against buying real estate in Larnaca. We will also tell you about the areas where exactly in Larnaca you should look for real estate.

However, before reading the text below, we suggest that you first read our introductory article on Larnaca here.

What advantages does Larnaca have over other cities in Cyprus?

1. Here is the largest airport on the island.

It is the Larnaca hub that receives the most flights from various regions, from the Middle East to Europe and Russia. If you are going to buy real estate in the city center, then your way from home to the airport takes up to 10 minutes. The road to the coastal suburbs from the Larnaca airline hub takes up to 20-30 minutes.

2. The second reason to look for housing in Larnaca is the price.

Yes, Larnaca doesn't have the cheapest house prices in Cyprus, but they are significantly less than the housing cost in Nicosia and Limassol, the largest cities on the island. But it is also a disadvantage as you are not able to earn money on renting out your real estate in Larnaca. We are going to talk about it a little later.

3. Larnaca is the coastal suburb of the island's capital Nicosia, no matter how strange it sounds.

Larnaca is the closest coastal city to the capital (there is also Kyrenia, but it is located in uncontrolled territory).

The distance between Nicosia and Larnaca is only 40-50 kilometers. Is it far? For local residents, yes. For them, both cities are two completely different regions located on different parts of the island. However, this is all in words. In real life, some Cypriots prefer to buy property in Larnaca by the sea and drive to work to the capital every day.

What can we say about migrants from big countries, for whom 40-50 kilometers are just different areas of one city. In other words, you can look for housing on the Mediterranean Sea shores, somewhere near Larnaca, and drive to work to the capital along a good highway, but if you are ready to spend money on petrol or you need to be in the office not every working day.

In this case, it is worth buying real estate in the suburbs, where air is fresh, just 5-10 kilometers from Larnaca center. Somewhere in Oroklini or Pila. The sea here is crystal clear, birds sing under the windows for 12 months a year, and an ambush of stray cats run around the villages.

4. This is the last, fourth reason to buy a home in Larnaca.

The Larnaca suburbs are the very golden mean between life in the city and in nature. It is quiet, cozy, fresh and, at the same time, very close to civilization.

However, not everyone is happy with life in Larnaca and there are good reasons for that.

1. The first thing we have already noted is that it isn't possible to rent housing at such a high price as in Limassol or Nicosia.

If you buy real estate in tourist areas of the city or suburbs, then you are not able to rent it out for a short period for the same money as they rent out summer housing in Ayia Napa. In winter, it will also be difficult to find tenants, so the owners probably have to warm up and take care of the property.

2. Prices for long-term rentals in Larnaca are also significantly lower than in Nicosia and Limassol.

The conclusion is unambiguous, it is better to buy a house or an apartment in Larnaca for you, not for renting out.

3. Yes, Larnaca is really close to the capital, but not everyone is ready to drive 80-100 kilometers (round-trip) every day.

Larnaca doesn't have much to do, especially during the low winter season. The most boring in this city may seem to newcomers from big cities, because the population of the city municipality is slightly more than 50 thousand people. There is not much entertainment, as the capital is close and almost every adult resident of Larnaca has their own car.

Where is the best place to look for housing in Larnaca?

As we wrote earlier, Larnaca is not only a municipality, but also one of the six regions of Cyprus, which stretches from the Troodos Mountains in the west to the Red Villages, as well as Ayia Napa resorts in the east.

In terms of real estate, Larnaca can be divided into four autonomous worlds:

Larnaca municipality and the closest neighborhoods. In the city center, there are almost only apartments among the primary housing estates, although individual houses are still being sold in the old quarters. In the surrounding municipalities of Larnaca, there are tenements and houses.

We advise you to consider Larnaca city and the nearest suburbs only in two cases: if your work is located in this city, or you are crazy about middle-sized coastal cities (then it is better to choose the Larnaca center). Then you can fall in love with this city. And you will not need Limassol and Nicosia.

Coastal suburbs. A separate world is concentrated in Larnaca suburbs located on the sea: Pila, Oroklini, Livadia (in a small distance from the sea), Perivolia.

You should move here if you are going to work in Nicosia and live by the sea. You can buy real estate here to rent out, if you still want to rent out your property.

Most of the properties here are houses or small tenements.Tourists come here in summer, but during the winter, there is peace and grace. The coastal suburbs are connected with Larnaca and Nicosia by good and wide roads.

The third world is the coastal cities far from the center, as well as suburbs that are not located on the sea. They are much less popular with tourists, however, housing can be found here much cheaper. Yep here you can find cheap houses for sale in Cyprus.

These areas are suitable for those who intend to use their property exclusively for 'shelter' and home recreation. Those who are ready to constantly drive to the city to large stores, take their children to kindergarten and school every day, and also meet with friends in neutral territory (in Larnaca or even in Nicosia and Limassol).

The last group includes settlements in the mountains and the Red villages. They completely resemble the previous group in their remoteness and boringness, but at the same time these villages are very atmospheric, and life in them resembles life in a Cypriot village half a century ago.

This group includes the famous mountain villages of Kato Drys and Lefkara, as well as the villages of Ormideia and Xylofagou, located between Larnaca and Ayia Napa. It is interesting to walk here with friends, chat with locals, observe the traditional life of the Cypriots. If you really don't get tired of it soon...

Summarizing...

Larnaca is a convenient transport hub, but a small and boring city. You will fall in love with Larnaca if you like to travel by your own car and are ready to spend time on the road.

It is best to buy real estate in Larnaca to live, not to rent out. But if you really want to rent out real estate here, you should consider the coastal areas closest to the city.

Read more:

  • Features of seafront real estate in Cyprus (link)
  • Where to buy property in Limassol to rent out? (link)
  • Limassol city overview: a place to live, relax and invest (link)
  • Pissouri. A place in Cyprus where you want to live (link)
Source: DOM LiVE
Photos: pixabay.com
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