Investment in Larnaca
There has been a recent influx of investment in Larnaca. The residential real estate market has boomed along with large investment projects such as the redevelopment of the city’s port and marina and a new mall now under construction. Larnaca is now the investment hub of Cyprus but why? What makes Larnaca the ideal location for investment?
We have created a list of the most frequently asked questions on the subject of the city’s investment landscape. The topics range from location right through to real estate investments we have been part of.
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What recent investments have been made and why do they impact the city?
What are your recent developments?
We have several real estate projects in Larnaca. Our most recent being our Gaia project. With sparked interest in investment in Larnaca due to the new port it only made sense that our project was located right next to the development.
We also have investment projects within the center of Larnaca. Our Kitiou residence is just minutes away from the sea front of Finikoudes yet is centrally located in the city center. This is what makes the landscape of Larnaca so ideal for investment, nothing is ever far away.
Can you provide statistics regarding investments in Larnaca and Cyprus?
Of course. We understand that numbers speak volumes so here are a few of the more recent statistics regarding investment. 395 construction permits were granted for 696 new homes at the start of 2020, an increase of 2.9% in comparative to last year. With the new Metropolis Mall in Larnaca and Neo Plaza in Nicosia, 450,000 square meters of retail space is being constructed.
Real Estate Investment
Is Real estate a popular investment in Cyprus?
Why should I choose real estate investment in Larnaca?
A recent report suggests that 40% of people think Larnaca is set to be the most developed city on the island. If that is not enough to sway you then you should know that 92% of people say real estate in Limassol is way overpriced while 44% said costal Larnaca is an absolute bargain!
An added extra is the new developments previously mentioned, such as the port.
I am not sure whether to invest in real estate or industrial property.
No one can decide for you but here are some statistics on different investment types. Within Cyprus most investors are interested in real estate, 70% to be exact. While 12% are interested in land, another 12% interested in others, 4% for office and 1% for industrial property.
Location and Why It Matters
Where is Larnaca situated?
The city sits on the southern coast of Cyprus. Its location allows ease of travel between the cities with only 52 km to the island’s capital, Nicosia, 68 km to Limassol and 134 km to Paphos.
The overall location of Cyprus is ideal for investment as well. Its in the northeastern Mediterranean allowing easy access from all continents.
Does Larnaca have an airport?
If Larnaca is a coastal city, does it have a port?
Yes, the city does have a port. It is located 2km from the town center, 6km from Larnaca International Airport and covers 445,000 square meters. To the north side there is petroleum facilities with the marina situated to the southern side of the port.
What beaches surround Larnaca?
Why does the location make investment in Larnaca so good?
What Are the advantages within the Cypriot economy?
There are plenty of advantages. Cyprus’ economy is supported by positive forecast of sustainable growth as well as having one of the lowest corporate tax rates across the EU at 12.5%
What are the main sectors regarding investment in Larnaca and Cyprus?
Is Cyprus part of the EU?
Yes. This is why there are many advantages to investing in Larnaca, Cyprus. These include trading and tax systems, amongst others.