Property in Larnaca
If you buy property in Larnaca, you become the owner of real estate in one of the most popular and picturesque resorts in Cyprus. This is the third largest city of the island state and the central transport hub of the country. Larnaca is located in the southeastern part of the island and, due to the long beach, provides opportunities for buying both luxury villas in Cyprus by the sea and modern apartments in the city centre.
Thousands of overseas visitors from all over the world come here every year. They are attracted by the mild climate, with even the heat being comfortable thanks to the sea breeze, the variety of historical and cultural attractions, and relatively low prices. Real estate in Larnaca is of particular interest for foreign nationals planning to receive passive income: there is a consistently high demand for rental properties, which ensures a quick payback.
Discover investment property in Larnaca with Cyprus-Real.Estate! Visit our website to browse the catalogue and see the best offers from the largest developers in Cyprus and reputable agencies.
Property in Larnaca for investments and living is in demand among the locals and visitors alike. As we mentioned above, the city offers a wide range of properties.
- Apartments: in recent years, more and more residential developments are being built here. Buyers can choose from ready-made apartments in new buildings and properties on the secondary market. Many of them are located within walking distance of the beaches.
- Villas are the most sought-after type of investment property. Locals typically rent houses long-term, while visitors prefer to rent them for the duration of their holiday. Most of the villas are located on the outskirts of the resort, which means privacy, security, and less pollution coming from the city.
- Commercial real estate includes office buildings, retail stores, and warehouses. Retail spaces attract lessees from the thriving retail services sector, office spaces cater to the growing demand to house employees of local and large companies, and warehouses serve manufacturing enterprises and logistics-related organisations.
A big plus for those who choose Larnaca to buy property in Cyprus is easy road connections to all major settlements: the city is about 52 km from Nicosia, 68 km from Limassol, and 134 km from Paphos.
The main air hub of Cyprus, Larnaca International Airport, is also located here. More than eight million passengers pass through it every year, including those departing from Heathrow and Dubai International Airport. The city also has a port, which is located two km from the centre.
Properties prices in Larnaca
The average sale price of apartments is €246,989. The average cost of houses is €408,863. Below are the property prices in Larnaca, depending on the type of unit and its configuration.
Apartments:
| Number of Bedrooms | Price |
|---|---|
| Studio | €162,667 |
| Two bedrooms | €234,500 |
| Three bedrooms | €396,867 |
| Four bedrooms | €474,333 |
Houses:
| Number of Bedrooms | Price |
|---|---|
| Four bedrooms | €441,778 |
| Five bedrooms | €721,250 |
| Six bedrooms | €875,000 |
| Seven bedrooms | €1.1 million |
- Apartments cost €2,760 per 1 m². Over the past three months, the price of this type of property has increased by 4%.
- Houses cost €2,096 per 1 m². The average price has dropped by 1% in the last 3 months.
Property cost in Larnaca varies depending on the type of unit and its features, including area, number of bedrooms, etc. You can find prices in euros and dollars for specific residential units in the catalogue on the website.
Investment property
Properties in Larnaca, Cyprus can give investors a lot of advantages. One of them is that you can easily rent them out (especially during the summer season). Moreover, this is true both for apartments in the centre and villas on the outskirts. Larnaca is a sought-after resort, and tourists tend to rent luxury real estate during their stay. By the way, if you want to invest in a modern apartment in the city centre, you do not have to give up the sea view, as the heart of Larnaca is located almost on the coast.
This location also sees an influx of foreign companies, which rent apartments for their employees, thus supporting year-round demand for properties.
All these lead to a stable and high return: 9.34% per annum for properties in the city centre and 9.67% for units outside of it.
Buying property in Larnaca
For assistance in choosing and buying a house or apartment in Cyprus, feel free to contact the experts of Cyprus-Real.Estate! Leave a request on the website or use a messenger to get a prompt response from a specialist. We will help you find the ideal property for living or business, taking into account your specific goals and individual preferences.