Thinking of buying or selling property in Larnaca Cyprus? Larnaca, the third-largest city on the island of Cyprus, is conveniently situated between the major cities, just a 50-minute drive from Limassol and Ammochostos or the island’s capital, Nicosia. The city of Larnaca is home to the Cyprus International Airport. Larnaca is a city with a lot of potential, and purchasing property there promises to turn into a very profitable investment for the savvy real estate investor.
Larnaca
With a mixture of beachfront properties and rural homes, Larnaca offers a varied property landscape.
An apartment in Larnaca costs how much?
Outside of the city center, the average cost per square meter for a flat in Larnaca is £1,181.83, compared to £1,718.37 in the city center. The combination of these settings and the reasonably low cost of real estate make Larnaca a favourite among those who enjoy the outdoors.
Affordability of real estate and investment opportunities in Larnaca
The average property price in Larnaca is 6.72 times the average annual income, according to the city’s price-to-income ratio. This ratio places Larnaca as a mid-range option in terms of affordability because it is higher than Paphos but lower than Limassol and Nicosia.
In Larnaca, the mortgage as a percentage of income is 44.02%. According to this, your monthly income for an average mortgage payment may be about 44.02a%, which is slightly higher than in Paphos but lower than in Limassol and Nicosia.
Compared to Limassol, Nicosia, and Paphos, Larnaca has a higher Loan Affordability Index (2.27), but a lower one than those cities. This suggests that Larnaca’s mortgage loan application process is moderately feasible.
Larnaca’s rental potential is comparable to that of Limassol and Paphos. With a price to rent ratio of 10.80 in the city’s core and 10.18 outside, it is clear that it will take some time before property costs are covered by rental income.
In Larnaca, the Gross Rental Yield is 9.26% in the city center and 9.83% outside of it. These percentages are comparable to those in the other cities, showing a potential landlord a reasonable return on their investment.
Larnaca provides a balance between investment potential and affordability. Several types of buyers can afford it due to its affordable property prices and price-to-income ratio. It is a favorite among nature lovers due to its diverse property landscape, which includes homes in the countryside and beachfront properties. For those looking for a combination of urban conveniences and natural beauty, Larnaca might be a fantastic option.
Because property prices in Larnaca are still low, there are a number of reasons why the value of real estate, including homes, apartments, villas, and land developments, will surpass the expectations of both buyers and real estate investors who purchase in the near future:
the expansive Larnaca International Airport improvements, the upcoming designer golf course constructions, the nearly finished mass road improvements, the conversion of the Larnaca Port into an addition to the Larnaca Marina (more than tripling its size to dock both cruise ships and luxury yachts), the extension of the lovely tree-lined Phinikoudes promenade, and the relocation of the Larnaca Oil Refinery from the Dhekelia seafront;
Where to find real estate in Larnaca
Larnaca is home to the island’s most affordable real estate. Families looking to buy property in Larnaca to call it home will benefit from the region’s warm climate, warm-hearted locals, low-tide beaches, affordable cost of living, charming history, and safe, leisurely lifestyle.
Our Larnaca developments serve both types of customers because they offer a variety of architectural designs and styles, from modern homes to traditional apartments and Mediterranean-style vacation homes constructed to European standards.
Laranca’s most well-liked neighborhoods for real estate are:
Mackenzie Region
The new and upcoming Larnaca development area is called the Mackenzy Area. Living in the Mackenzy Area means being close to nearly everything that Larnaca has to offer: the city center, the shops and cafes of Phinicoudes, the Makenzie nightlife, and the Piale Pashia neighborhood’s pedestrian paths.
view current real estate development projects
Dekhelia – Larnaca Road
The Larnaca-Dhekelia Road is the most organized area to purchase a home or villa. By purchasing a property on the Larnaca-Dhekhelia Road, homeowners and investors can be sure to enjoy luxury living to the fullest thanks to the long seafront and peaceful residential neighborhood.
Downtown Larnaca
Any homeowner or investor is assured of the highest returns by purchasing a property in the Larnaca Town Center. All public and private schools, cafes, shopping centers, and the renowned Finikoudes Beachfront are all within walking distance. Examples of private schools nearby include the American Academy and Med High School. After all, it’s no secret that location, location, location is the key to maximizing returns when purchasing homes or apartments.
Utah Valley
Larnacas Salt Lake Natural Protected Reserve, which is known to astound and amaze all of its visitors, is home to the rare Pink and Black Famingo. Those privileged buyers who are fortunate enough to purchase an apartment or flat in this location will have the chance to marvel at this wonder every day. Bicycle rides and nature hikes around the paved Larnaca Salt Lake will be a most pleasant and breathtaking experience for the more active home buyers.
Make Larnaca your stylish home
Larnaca is the perfect location for those who want to explore traditional Cyprus and also experience the middle eastern impact that history has had on the island, with beaches that extend for more than 8 kilometers.
Another popular destination is the salt lake close to the airport. Migratory birds, particularly the Pink Flamingo, love the shallow seawater habitat of the lake in the winter. The lake dries up in the summer, and salt is harvested for domestic use.
The Tekke (shrine) of Hala Sultan was constructed to honor Umm Haram, a female relative of the Prophet Mohammed who traveled with the Arab invaders of Cyprus in 694 AD but died after falling from a mule near Larnaca. It is located on the west side of the lake, quietly nestled among a copse of tall cypress trees, and its minarets can be seen reflected in the water. Her shrine, which is now a serene haven filled with palm trees and flowering shrubs and is the third holiest in the Muslim world after Mecca and Medina, is still revered by Cypriots and visitors alike.
