Larnaca: Where tranquillity meets adventure
Sunny days, gorgeous coastlines, and unparalleled leisure activities. These are just some of the wonderful things offered by Larnaca, located on the southern coast of Cyprus. The city of Larnaca is the third-largest city in the country. Its metro population is approximately 145,000. Larnaca is home to one of Cyprus’ major airports, Larnaca International Airport, acting as a gateway between this seaside cosmopolitan city and the rest of Europe and the Mediterranean. Expatriates and real estate investors have flocked to Larnaca on account of its pristine beauty and luxury infrastructure. Larnaca is a friendly and welcoming city where new residents are sure to find serenity and their newest pastime. Larnaca is renowned for its palm-tree-lined seafront, known as Finikoudes, and is home to several notable landmarks, including the Church of Saint Lazarus, Hala Sultan Tekke, Kamares Aqueduct, and Larnaca Castle. The city is built on the ancient ruins of Citium, the birthplace of the Stoic philosopher Zeno. Additionally, Larnaca boasts a seaport and a marina.
The famous Finikoudes – a sea promenade with palm trees
Neighbourhoods
Aradippou, one of the larger neighbourhoods within Larnaca, is quickly becoming a well-established location for residential properties. The neighbourhood is located a little bit away from the city centre and beaches, offering more quiet investment properties. This neighbourhood is known for its beautiful old churches, making strolling around this area a testament to Cypriot architecture.
Impressions of Larnaca’s old town
Located closer to Larnaca’s center, is Drosia. This neighbourhood’s prime location makes it the perfect destination for those working in the city center and craving the liveliness of the city. Drosia is a sought-after area for property in Larnaca due to its ideal location and sophisticated amenities. Those living in Drosia have access to everything one would need including private schools, restaurants, and shopping centers.
Looking at Larnaca’s famous beachfront, you have the always wonderful neighbourhood of Mackenzie. This neighbourhood is relatively small but it is a haven for a diverse range of luxury real estate properties. Those living in Mackenzie get to enjoy the benefits of being within walking distance to the calm seas and golden sands.
Impressions of apartments in Mackenzie
Leisure
Slower-paced than the nearby city of Ayia Napa, Larnaca’s combination of high-end infrastructure and natural amenities offers residents a plethora of new experiences and chances to discover the Cypriot landscape. Those looking to indulge in the ecosystem can venture to the Larnaca Salt Lake. Notable for its birdwatching, visitors can glimpse bright pink flamingos in this area.
Given its prime coastal location, Larnaca is also an excellent spot for those who want to relax on the beach. Each day offers a new intriguing adventure in Larnaca, whether you want to spend the day tanning while observing the stunning turquoise water or try your hand at jet skiing or parasailing. Larnaca is also an excellent spot for thrill-seekers, you can dive at many enigmatic locations off the coast, such as the Zenobia shipwreck, one of the top ten ship wrecks to dive in the world.
Larnaca’s famous Finikoudes Beach
Larnaca is notable for its calm and welcoming atmosphere, allowing real estate investors to purchase property in a city that perfectly marries adventure and tranquillity. The city’s beachside promenades of Mackenzie and Finikoudes are fantastic places to go for a walk and take in the busy streets and numerous storefronts. The city has a lifestyle that upholds the values of calmness and excitement all in one, making it a haven for those seeking the finer things in life with an exciting edge.
Nightlife and Restaurants
Larnaca’s melding of excitement with the serene extends to its excellent restaurant and bar scene. If you are looking for an all-night party or a more relaxed, intimate evening, you are in luck. As the sun falls below the horizon, the city of Larnaca is lit up and becomes even more vivacious. There are numerous bars and nightclubs as well as tavernas and restaurants to enjoy and savour. The residents and locals of Larnaca are famously friendly, making this a wonderful spot for meeting new people. Along with bars and clubs, Larnaca features many cafes that are open all hours of the night. Those who do not want to party the night away have the opportunity to meet new people, indulge in Cypriot coffee, and people-watch as the night goes on. Bars and clubs closer to the beach offer larger than life clubs while more casual bars reside closer to the city center. Larnaca’s variety ensures you will never be bored.
Lovely cafes and restaurants invite to spend the evening
Real Estate Market
Over the past five years, the real estate market in Larnaca has demonstrated remarkable resilience and growth. Here are some key insights:
Total Value of Transactions: The total value of property transactions in Larnaca reached an impressive 3 billion EURO during this period.
Residential Sector Demand: Larnaca provides opportunities for buying both luxury villas by the sea and modern apartments in the city centre. The residential sector has been a driving force, fueled by sustained growth in foreign demand. Buyers from various nationalities have shown interest in Larnaca’s real estate market. This year, prices have been rising, but still remained competitive compared to Limassol and Nicosia. Today Larnaca has properties for every budget. The price depends on the area, property class and its distance from the sea.
Apartments for sale
A modern apartment with quality specifications can be found between 140,000 – 180,000 EUR for a 1-bedroom unit, a 2-bedroom apartment can cost from 210,000 to 250,000 EUR, a 3-bedroom apartment from 360,000 – 420,000 EUR, and a 4-bedroom apartment from 450,000 – 500,000 EUR. The prices for villas are significantly higher and vary depending on the size of the plot and house. In average a modern 4-bedroom villa costs approx. 442,000 EUR, a 5-bedroom villa costs ca. 721,250 EUR, a 6-bedroom villa costs about 875,000 EUR and a 7-bedroom villa can be found for 1.1 Million EUR. Obviously there are some villas that can cost in the millions of EURO depending on the size and specifications.
Market Robustness: Despite external challenges such as the aftermath of the COVID-19 pandemic and geopolitical tensions, Larnaca’s real estate sector has maintained record-high levels of activity.
In summary, Larnaca’s real estate market has been resilient, attracting both local and international buyers. With its stunning Mediterranean location and favorable economic conditions, Larnaca continues to be an appealing destination for property investment.
