We have already introduced you to Irina Eroshenko, head of DOM's Larnaca office. Last time, Irina shared her professional secrets and how she chooses the perfect homes for her clients. During that conversation it became clear that penthouses are her particular passion. So today we decided to talk to Irina more about what makes penthouses so attractive and why they are becoming increasingly popular in the Cyprus property market.
Irina, penthouses are becoming increasingly popular on the property market at the moment. What do you think attracts people to this type of property?
In my opinion, penthouses are first of all a unique opportunity to live in an atmosphere of luxury and privacy, while at the same time being able to use the space to relax in large groups. People are attracted by the spaciousness and the opportunity to enjoy stunning views of the city, the sea or the mountains.
A penthouse is not just an apartment on the top floor, it is a lifestyle. What are the unique features of penthouses that set them apart from other types of accommodation in Cyprus?
In Cyprus, penthouses are not just a top floor apartment, but often an exclusive space with large outdoor and indoor terraces, barbecue areas, gardens, Jacuzzis and even private swimming pools. They offer unique privacy, tranquillity and panoramic views that cannot be found in ordinary apartments.
In Cyprus, even in more modest buildings, penthouses are referred to as top-floor apartments. How does this affect the perception and value of such properties? Are there any risks involved in buying such penthouses?
Yes, indeed, the term 'penthouse' is used quite loosely here. Even if the building is not a luxury building, apartments on the top floor can be called penthouses. This has an effect on the price, of course, because even a one-bedroom penthouse usually has its own roof garden, so the total area of such an apartment is much larger than usual. This is very convenient for small families or individuals. Modern construction and insulation technologies make it possible to avoid any risks when buying penthouses.
Often buyers buy 2 bedroom penthouses with the intention of creating an additional room on the roof. How common is this practice in Cyprus? What advice would you give to those considering such a change?
It is a very popular practice! Many clients want to use the roof terrace to extend their living space. Sometimes penthouse layouts have a small room on the terrace that is intended to be used as a storage room, as well as a separate bathroom on the roof. This room can easily be converted into an office if required. I would advise you to check all permits with the agent in advance and agree the project with the developer. It is better to invest in quality materials and think about air conditioning and insulation.
Tell us a little about how and when the first penthouses appeared in Cyprus. Do they have their own history on the island?
The first penthouses were built in Cyprus in the 80s, when there was an increased interest in more exclusive accommodation. This was due to the development of tourism and the increasing number of foreigners wanting to buy property on the island. Today, penthouses are an integral part of all new developments, from cosy one bedroom apartments with roof terraces to magnificent 8 bedroom apartments with private pools and gardens. They can be found in most modern apartment complexes.
The global history of penthouses is also quite interesting. How has the perception and functionality of penthouses changed in different countries?
Penthouses first appeared in New York in the early 20th century and immediately became a status symbol. In Europe, penthouses became popular in the middle of the century when architects started to use the upper floors to create unique spaces. Today, a penthouse is still a status property with a large area and elements of luxury that cannot be achieved in standard apartments.
What are the current trends and tendencies in penthouse design and architecture in the Cypriot market?
There is now a strong emphasis on sustainable construction and energy efficiency. In our climate, where the summer temperatures can reach 40 degrees Celsius and in the winter there is sometimes rain and high humidity, it is important that the property does not need to be heated in the summer and stays warm in the winter. Open floor plans that connect indoor and outdoor spaces are also popular. Floor-to-ceiling panoramic windows and the use of natural materials such as stone and wood create a sense of unity with nature.
Can you give us some examples of the most interesting penthouses currently on the market in Larnaca?
Of course we can! There are penthouses in Larnaca to suit all tastes and budgets, and all of them offer their owners a completely unique experience and emotion. Prices range from €300,000 to €3.65 million. The more affordable options are located in quiet residential areas with views of the surrounding countryside and mountains, while penthouses costing a million and up are usually located in sea front or central complexes.
The first example is a new 3-bedroom penthouse in the Makarios area. Imagine a morning on the eighth floor, just 100 metres from the sea, waking up to the gentle light reflecting off the water's surface. A spacious terrace overlooking the vast Mediterranean, quality Italian cuisine and a cosy living room where you can enjoy warm Cypriot evenings with friends. Everything has been thoughtfully designed for comfort and privacy, from underfloor heating to double glazing to keep you cool on hot summer days. The price of this masterpiece is €1.2 million + VAT.
For those who prefer a more chamber-like atmosphere, I recommend a duplex penthouse in the Vergina neighbourhood. Like a small oasis in the heart of a residential area, this penthouse has a unique layout with the bedrooms on the first floor and the living room and kitchen on the third. And on the roof there is a beautiful 82m2 garden where you can create flower beds or a cosy spot for yoga at dawn. This is a home for those who appreciate the combination of comfort and functionality. The price of this penthouse is 330 thousand euros + VAT.
If you dream of having your own private pool and roof garden in the city centre, then a penthouse in the central area of Larnaca is your ideal choice. This space has been designed to be enjoyed with great views, bright rooms and a private rooftop pool where you can enjoy the sunsets with your loved ones. The complex has electric car charging points and 5kW photovoltaic panels, making it not only beautiful but also environmentally friendly. This penthouse awaits its owners just a 10 minute walk from the Finicudes promenade and is available at a price of 565 thousand euros + VAT.
Now, for the true connoisseurs of luxury, I must mention a penthouse in the New Marina area. It is an entire floor residence with a garden, rooftop pool and panoramic sea views, where every day brings new and inspiring views. Everything here is designed to be enjoyed with family or friends: a 38m2 covered porch and an 11m2 outdoor balcony will allow you to admire the sunsets and feel the fresh sea breeze. This penthouse will be completed in 2026 and will be a real jewel in the collection of any connoisseur of exclusive properties. The price is 710 thousand euros + VAT.
These penthouses are not just homes, they are a lifestyle that combines luxury, comfort and breathtaking views of Larnaca's beautiful surroundings.
Irina, what type of buyer do you think is most interested in buying a penthouse? Are there any common characteristics among these clients?
These people are united by their desire for comfort, privacy and, of course, luxury. They are highly qualified IT specialists, successful businessmen, expatriates relocating to Cyprus, often combining work from home with holidays on the coast, and permanent residents.
What new penthouse projects can be expected in Cyprus in the coming years and how popular are they with buyers?
In the next few years, we expect to see the first sea front skyscrapers being built in Larnaca. The penthouses in such complexes will be unique in their design, their emphasis on sustainability and the infrastructure that the complex itself offers: fitness centres, tennis courts, playgrounds, luxury boutiques, high-end restaurants and business centres.
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