It wasn’t too long ago that we reported Larnaca, Cyprus’ southeastern city, was gaining popularity and now, said interest has further increased.
Why? Because there are a handful of exciting new projects in the works or lined up that will turn the city into a metropolis.
Cyprus Mail recently reported that ‘fresh money Is being invested in the real estate market with the introduction of new foreign capital without borrowing.’
Increased interest could transform Larnaca for investors, business owners, and international buyers. Here, we list five reasons why it could be the perfect time to invest in the Larnaca real estate market.
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A luxurious villa in Larnaca
Investment potential
Larnaca’s real estate market is experiencing a significant upswing, thanks to the influx of foreign investment and strategic urban development. Investors are particularly attracted to the city’s potential for high returns on investment, bolstered by the growing demand for residential and commercial properties. The city’s transformation into a metropolis is expected to drive property values upward, making it an opportune time for investors to capitalize on the burgeoning market.
Modern design
The architectural landscape of Larnaca is undergoing a renaissance, with modern design at its forefront. New constructions are not only aesthetically pleasing but also incorporate sustainable and smart technologies, catering to a clientele that values innovation and environmental consciousness. This emphasis on contemporary design is attracting a new wave of discerning buyers and investors, looking for properties that represent the future of living.
Exclusive villa development in a desirable location
Increase in Tourism
Larnaca’s appeal as a tourist destination is on the rise, with its beautiful coastline, rich cultural heritage, and improved infrastructure. The increase in tourism is fuelling the demand for short-term rental properties, making it a lucrative market for property investors. With the city’s ongoing efforts to enhance tourist facilities and attractions, this trend is set to continue, promising a steady income stream for those investing in the hospitality sector.
Development opportunities
With the city earmarked for significant development projects, including the expansion of the port and marina, Larnaca is ripe with development opportunities. These projects are expected to boost the local economy and create a ripple effect across various sectors, including retail, entertainment, and services, offering a wealth of possibilities for business expansion and new ventures.
Booking flights to Cyprus from Europe is easy
Affordable flights
The accessibility of Larnaca has greatly improved, thanks to the availability of affordable flights from major European cities. This ease of access is making the city an attractive option for both tourists and international property buyers. The increased footfall is beneficial for the local economy and the real estate market, as it enhances the city’s visibility and desirability as a place to live, work, and invest.
How to invest in the Larnaca real estate market
If you’re interested in getting on the Larnaca property ladder, it can be useful to get in touch with a trusted estate agent who has a good idea of the area and new developments. Here at Property Guides, we partner with a range of experts in Cyprus and can connect you with either of our two estate agents with property portfolios in Larnaca. To get in touch, simply call our team on 0808 252 7870 and we’ll connect you. Alternatively, you can leave us a message on our enquiry form and we’ll get back to you shortly.
For a step-by-step guide to the buying process in Cyprus, download your free copy of the Cyprus Buying Guide.
