Larnaca, one of the most picturesque and developed coastal towns in Cyprus, is fast becoming one of the most attractive locations for property investment. Its strategic location, rich history and developed infrastructure make it an ideal choice for both short and long term investment.
Let's take a look at why buying property in Larnaca is profitable and promising. And of course, we will tell you about the most interesting residential complexes for sale, so that potential investors can make an informed choice based on a full range of information.
Geographical and Strategic Location
Larnaca occupies a strategic position in the south-east of Cyprus, offering easy access to all the main tourist and business centres of the island. The city is the country's air gateway as it is home to Cyprus' main airport, Larnaca International Airport. This makes it particularly attractive to international investors and travellers wishing to travel between countries with ease.
Infrastructure and Transport Development
Recently awarded the title of Cyprus Green City, Larnaca is actively developing as an innovative hub with projects that make it a role model on the island. Notable projects include the redevelopment of the Zouhouri building complex and the upgrading of the city's main streets, both of which contributed to the title. Meanwhile, thanks to the effective management of the municipal team, Larnaca has attracted €30 million from the EU to be used for various development projects.
Every year, Larnaca's infrastructure is actively developing, improving the quality of life for residents and attracting tourists. The development of the road network, public transport and the seaport is improving logistics and access to services. Plans to modernise urban spaces and improve the tourist infrastructure only confirm Larnaca's status as a promising area for investment.
An ideal place for family life and study
As well as being a centre of business activity, Larnaca is also a great place to raise a family. Internationally acclaimed schools, numerous parks, gently sloping beaches and leisure centres create the ideal environment for raising children in a healthy ecological environment. The safety and tranquillity of the city's neighbourhoods make it a desirable place to live permanently.
There are 3 international schools in the town, which are not as overcrowded as those in neighbouring Limassol. In general, everything depends on the world situation: in 2023 it was difficult to find a place for a child due to the mass relocation of companies to Cyprus. At the same time, it has always been easier to place a child in local Greek schools.
The housing market: current situation and outlook
In April 2024, a positive growth rate of 44% was recorded for property sales in Larnaca. Between January and April 2024, 4,963 residential properties were sold in Cyprus, an increase of 4% compared to the 4,766 properties sold during the same period in 2023. In Larnaca, the number of signed contracts increased from 898 to 1,032 during the same period.
A recent study has shown that Larnaca is becoming one of the best places to invest in property in Cyprus. Experts have noted an increase in investor interest in the region, especially in the context of rising prices for newly built properties (€3,619 per sqm) compared to the secondary market (€2,289 per sqm). New build property prices in Larnaca include 19% VAT, while secondary properties are subject to a 4% transfer fee. The difference in value between new and secondary market properties is 36%, making Larnaca not only attractive for investors, but also ideal for those looking for a permanent home.
What about rents? The Royal Institute of Chartered Surveyors (RICS) Cyprus report for the first quarter of 2023 indicates an average increase in rents across the country of 30%. The most significant increase in rental prices will be seen in Larnaca, where rents for houses will rise by 2.5%, apartments by 3.9%, offices by 4.1% and warehouses by 2.6%. However, retail rents in Larnaca fell by 1.6%.
Properties in Larnaca range from sea-view apartments to luxury villas with gardens. Stable price growth and rental demand ensure a profitable investment. Unlike the more saturated tourist destinations, Larnaca offers lower prices, making the investment accessible to a wide range of buyers. The city's business district is currently under development, with modern business centres being built to provide everything necessary for the development of companies with international ambitions. At the same time, the geography of commercial property is expanding. Quince Properties is building a €3.5 million office complex in the Livadia district of Larnaca. The project involves the construction of a 12-storey building with a height of 54.2 metres and a total area of 335 m2. The ground floor of the building will house the reception area and the main entrance will feature a decorative pond with a floating platform. The building will feature an unusual architectural design and offer stunning panoramic views. Once completed, the office will be able to accommodate approximately 100 employees.
Larnaca's most promising developments
Let's continue our look at the top commercial complexes and then move on to the most popular segment among developers in Cyprus - apartment blocks.
Ion Tower
An elegant tower from a proven developer, Ion Tower has already earned its status as one of the leading projects to radically change the urban landscape of Larnaca. Rising to 17 storeys, this landmark commercial complex is located in the emerging business district, 3km from the historic centre and the popular Finikoudes promenade and city beach.
Ion Tower offers all the facilities for efficient operation: 24-hour reception, fully automated office processes, fitness centre, ground floor café, parking for 35 cars and 24-hour security. Offers include the possibility to purchase an entire floor or spacious offices starting from 163 m2. Prices range from €729,000 to €2.025 million. The area around the building is also saturated with commercial and residential projects, making it an ideal place for future employees to live.
Properties available in Ion Tower
Casa Rica
Located in the tourist area of Dekelia in Larnaca, the Casa Rica mixed-use development is just 300 metres from the Mediterranean Sea. The complex comprises 10 shops and 8 residential buildings and will be operational in 2025. The ground floor will feature shops, restaurants and cafes for sale or rent. The property is being sold in its entirety and offers a high return on investment and attractive short term leases.
Properties available in Casa Rica
Plus 59 Commercial Building
Plus 59 Commercial Building, developed by Plus Properties, is located in the centre of Larnaca, in the Metropolis Mall area, the city's main shopping and entertainment centre. The project comprises offices and shops, making it an attractive investment option.
The building has five floors and is located 3000 metres from the sea. The building's energy efficiency rating is A. Prices for the commercial space range from 270,000 to 380,000 euros, making it accessible to a wide range of investors. Its strategic location provides easy access to all major points in Cyprus, attracting international investment.
Properties available in Plus 59
QN Kition
QN Kition is a remarkable architectural development located in the historic centre of Larnaca, just 100m from the famous Finikoudes beach. The building will be the tallest in the city with 22 floors and will offer one to five-bedroom apartments ranging from 54 to 402m2. It will also include commercial space.
Developed by QN Alliance, a strategic alliance between Quality Group and Newman Holdings, the project is characterised by its dynamic and organic form, which will transform the city's skyline. The building promises to breathe new life into the neighbourhood, bringing modernity and comfort.
QN Kition offers luxury accommodation overlooking the Mediterranean Sea, Larnaca Marina and the Finikoudes promenade, while being just 10 minutes from the international airport. Apartments start from €760,000 and go up to €12 million, reflecting the high standard and exclusivity of the property on offer.
Properties available in QN Kition
Habitat
The Habitat residential complex is located in the Agios Georgios area of Larnaca, on Griva Digeni avenue. The 12-storey mixed-use building offers 1 to 3-bedroom apartments ranging from 60 to 108m2. The complex is located 2980 metres from the sea and has a high energy efficiency rating of A.
"Habitat offers an excellent location with easy access to the city centre and the main motorway linking Larnaca with other major cities in Cyprus. The proximity to schools, shops and restaurants makes this complex a convenient place to live.
Apartments start from €212,400 and go up to €548,200, making Habitat affordable for both buyers looking for a family home and investors interested in rental yields.
Properties available at Habitat
Ideal Living 8
Located in the tranquil area of Aradippou, Ideal Living 8 is a residential complex offering a wide range of one and two bedroom apartments. Due to its location, the complex offers easy access to green parks and is close to the Metropolis Mall and major roads, making it easy to reach the city's amenities.
The apartments, which range in size from 50m2 to 84m2, are equipped with the latest amenities. These include open-plan kitchens with granite worktops, built-in furniture and spacious living areas. Aluminium double glazing provides high levels of acoustic and thermal insulation. Each apartment also has a covered porch, solar panels for hot water, a pressurised water system, air conditioning, a covered parking space with an electric car charging station and a storage room.
Prices for the apartments range from 140 to 350 thousand euros (excluding VAT), making Ideal Living 8 an excellent option for both personal living and investment. The complex is ideal for those looking for comfort, a high quality of life and proximity to both nature and urban infrastructure.
Properties available at Ideal Living 8
Armonia Larnaca
Located in the Vergina area of Larnaca, Armonia Larnaca offers luxury apartments with a contemporary style and top quality materials. Ranging in size from 91 to 107 square metres, the apartments feature an open-plan kitchen, spacious living room, three stylish bedrooms and three bathrooms, providing ample space for residents' comfort.
Each apartment also has a 20 square metre covered veranda and a 5 square metre balcony, offering stunning views of the surrounding city. Improved energy efficiency is achieved through the installation of double glazing on windows and balcony doors, as well as the use of solar panels on the roof, helping to reduce energy consumption and improve the eco-friendliness of the complex.
Armonia Larnaca also offers a covered parking space and a storage room for each apartment. The Vergina area is known for its well-developed infrastructure, with all necessary amenities including shops, schools and entertainment facilities nearby. With apartment prices ranging from €265,000 to €325,000 (excluding VAT), Armonia Larnaca is an ideal choice for those looking to purchase quality accommodation in one of the most prestigious areas of Larnaca.
Properties available at Armonia Larnaca
Kyraldino
Located in the picturesque Kamares area of Larnaca, Kyraldino offers modern apartments that combine comfort and functionality. The complex offers two-bedroom, two-bathroom apartments with spacious and well-designed layouts, including an integrated kitchen and large living room.
Each apartment has a 23-square-metre covered porch, providing the perfect place to relax outdoors. Energy efficiency is achieved through the installation of aluminium double glazing and solar panels, helping to significantly reduce energy costs. High-quality finishes give each apartment a unique grace and elegance.
Each apartment will have its own private covered parking space and storage room, providing residents with an enhanced quality of life. With a distance to the sea of only 3500 metres, the complex is an excellent choice for those who value tranquillity and privacy. With apartment prices ranging from €185,000 to €255,000 (excluding VAT), Kyraldino is an attractive and affordable option for living in Larnaca.
Properties available in Kyraldino
Larnaca has all the attributes required for a successful property investment: strategic location, developed infrastructure, high standard of living and a stable property market. These factors make it one of the most attractive and promising destinations for buying property in Cyprus.
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