Top 7 reasons to choose Larnaca for living and investing in 2024

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05 05.2023

📍 Larnaca – the third largest city in Cyprus, after the capital of Nicosia and the city of Limassol. The city is located on the Mediterranean coast and is now one of the most popular areas of the island for holidays, living and investment.

Real estate experts are confident that Larnaca is the future. The city has become a magnet for foreign investment, with new luxury hotels, office buildings, residential complexes being actively built in Larnaca over the past few years, and a project to modernize the port and marina is soon being implemented.

Here are the top 7 reasons to choose Larnaca for living and investing in 2024:

✅ Good geographical location, excellent infrastructure and airport availability

The city of Larnaca is located in the southeastern part of Cyprus, close to the main cities and attractions. The distance from Larnaca to the most popular resort of Cyprus Ayia Napa is only 60 km, to Limassol – 68 km, to Paphos – 137 km, and to the gorgeous Troodos Mountains with picturesque views – 109 km.

Larnaca is also the only major city in Cyprus with its own airport and seaport.

Just 6 kilometers from Larnaca is the international and main airport of the island. Therefore, the city is ideal if you need frequent international travel.

✅ The city is ideal for families with children

Larnaca is a quiet, not noisy and safe city, offering many advantages for families with children: a developed system of medical facilities, primary and secondary schools (both public and private with teaching in English), universities, restaurants, cafes, sports centers, Metropolis shopping center, etc.

✅ Mild climate, good beaches and clear sea

Larnaca is located south of the warmest resorts in Spain, Greece and Turkey, so the city has one of the most pleasant climates in the Mediterranean with hot summers and warm winters.

The average annual temperature ranges from 25°C during the day to 12°C at night. And summer lasts from May to the end of October.

The city also has a clean and azure sea with a sandy coast, where it is convenient to enter the water everywhere. In Larnaca, the two most popular beaches are Mackenzie and the famous Finikoudes, surrounded by date palms. And both beaches have received the Blue Flag, confirming that the infrastructure and the water in the sea meet high standards of quality suitable for safe swimming.

In addition, the city has a lot of attractions: the Oroklini salt lake, where pink flamingos flock for the winter; built in the XIV century Church of St. Lazarus with ancient Byzantine frescoes and bas-reliefs; Pieridis Archaeological Museum; and harbor “Marina Larnaca” with pleasure boats.

✅ Low costs than other cities

Comparing Larnaca with other cities in Cyprus like Paphos, Limassol and Nicosia, you can see that the cost of living and the cost of a square meter in general is much cheaper.

Property in Limassol and Nicosia is considered too expensive compared to the affordability that Larnaca offers.

✅ Large selection of affordable properties

Larnaca offers almost any type of property: residential complexes, apartments, villas, houses, townhouses, as well as commercial properties and office buildings.

You can buy in Larnaca both luxury apartments in the city center 5 minutes from Phinikoudes beach with a gorgeous view of the Mediterranean Sea, as well as luxury villas in a cozy suburb.

✅ Exclusive and modern development projects

The Larnaca real estate market is developing rapidly and developers are trying to please the client as much as possible by introducing modern energy efficient technologies and design solutions into projects: modern VRV air conditioning, built-in alarm system, external thermal insulation and heated floors.

For example, many modern properties have already received an Energy Performance Certificate (EPC) of class A or higher, confirming that the building has excellent thermal insulation.

Accordingly, in a house with good and modern thermal insulation, it is not hot in summer and not cold in winter.

Also, special photovoltaic panels are installed on the roofs, which provide the owner with significant savings on electricity costs.

In addition, modern residential real estate is rented to the owner already with designer renovation, high-quality fittings and furniture.

✅ Investment future of Larnaca

As we noted above, real estate experts consider Larnaca the most promising and profitable market in Cyprus. In 2024, Larnaca has already surpassed the real estate development potential of Limassol, once the hub of real estate activity.

This is due to the stability and attractiveness of prices, as well as the influx of infrastructure projects.

For example, the New Marina Project in Larnaca is the largest infrastructure project of its kind in Cyprus and provides many investment opportunities.

This port modernization project and a significant investment of 1.2 billion euros have already had a positive effect on demand in the region. 510 thousand square meters of the project will include modern retail space, luxury apartments and offices of key international companies, restaurants, spas, hotels and other infrastructure facilities.

Accordingly, property prices in Larnaca will only grow.

The above advantages are not the only ones, these are just the main points why the city of Larnaca in Cyprus is so attractive for living and buying property.

You can buy real estate in Larnaca in order to keep your savings, or for profitable rental and passive income, or for your own living in a beautiful and cozy city on the Mediterranean coast!

Read also:

Why has the city of Larnaca in Cyprus become so popular?

Larnaca has become an increasingly popular destination for leisure, business and just living due to its prime location, excellent infrastructure, a large selection of modern real estate, investment returns, the presence of the main international airport in Cyprus and long sandy beaches with warm azure sea.

How profitable is it to buy a property in Larnaca for rent?

Larnaca is gaining popularity as both locals and foreigners move to the city for recreation, work and life.

The increase in the number of moves to Larnaca contributes to the growth of the rental market, both short-term and long-term.

Apartments in a good area of Larnaca are rented simply from May to January without a break.

Rental income averages from 4.3% for a 75 sq. or from 5.2% for apartments of 120 sq.

What are the real estate prices in Larnaca?

The cost of real estate in Larnaca is influenced by many factors: city area, type of property, proximity to the sea.

In 2022, the maximum increase in property prices in Cyprus was recorded in the Larnaca region.

Prices for 1 square meter in the city center have risen from 1,800 euros in 2020 to 3,000 euros in 2023.

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