Larnaca Property Investment
Subscribe to Our Knowledge Center
Why Invest in Larnaca
There are many reasons why investors find Cyprus and Larnaca an incredibly lucrative investment. Some of these reasons are:
· Positive forecast of sustainable growth
· Low corporation tax (12.5%) and double tax treaty
· Geostrategic location
· A low starting cost for business registration
· Member of the EU
There are many perks in regard to Larnaca property investment. To start with, it is easy to rent out contemporary apartments in the city centers and luxury villas on the outskirts of the city, especially during the summer seasons. This is because Larnaca is a tourist destination, and tourists are likely to rent lavish properties during their stay. Cyprus also has the advantage of longer tourist seasons than most other European countries. If you plan is to invest in order to rent and gain a passive income then Larnaca is the ideal location. Furthermore, Larnaca is seeing an influx of foreign businesses setting up quarters in the city with employees that need housing. This means there is a high demand for housing in Larnaca.
The city also has an exceptionally low crime rate, meaning that any property you decide to invest in will be one of the safest in the world. In fact, Cyprus is the 5th safest country in the world. Therefore, Larnaca property investment is a safe investment.
Larnaca Property Investment: The Location
Larnaca is one of the coastal cities in Cyprus, meaning it provides city life as well as a relaxed and luxurious scenic life. Therefore, you already have many options when it comes to Larnaca property investment, depending on your requirements. If you are looking to invest in contemporary apartments in the city center you do not need to give up a sea view as downtown Larnaca is on the seafront. This gives Larnaca a great advantage when it comes to what properties it can offer. Further on in this article, we will discuss our developments that offer just this.
But for now, let’s talk more about the location. With Larnaca being approximately 52km from Nicosia, 68km from Limassol, and 134km from Paphos, nothing is too far away. Larnaca has accessible highway links to all the major cities therefore if you are traveling for an extended amount of time, Larnaca is a good place to invest in a property. The city is also home to Cyprus’ main airport, Larnaca International Airport. This airport sees over 8 million passengers travel through it each year and connects to other major airports including Heathrow and Dubai International Airport. Finally, the city also holds a port that is located 2km from the city center. It covers 445,000 square meters and offers excellent investment opportunities in the shipping sector. You can find out more regarding the thriving sector of the Cypriot economy here.
Larnaca Property Investment: Property Types
As we have mentioned, the landscape of Larnaca allows a multitude of various property types. These include the following:
Larnaca sees more and more apartment complexes under construction. There is a high demand for apartments from both locals and foreigners who want to rent and buy a property. We have several projects both completed and under construction. One of these is our Gaia project. Gaia is situated a short walk from Finikoudes, the beachfront in Larnaca. This allows the apartment complex to combine the element of luxury apartments with sea views and the contemporary feel of living in the midst of the city. As this was one of our aims with Gaia, we created apartments with spacious balconies overlooking the Mediterranean Sea and designed the space to allow maximum natural light to flow through the living areas and bedrooms.
We also have another project called NOX. This project is our latest real estate development project in Larnaca. NOX is a mid-rise complex that has been designed to coincide with the contemporary landscape of Larnaca. This project is strategically located to overlook the new port and marina in the city, and much like Gaia, it is just minutes away from the waterfront. NOX has been designed to be comfy, spacious and tranquil. You can find out more about our projects here.
Villas are very popular in terms of Larnaca property investment due to the fact they have such a high return on investment. Locals look for long-term rentals and tourists want short-term villas rentals. This means that if you are looking for a passion income from investment, purchasing a villa in Larnaca is ideal. Most villas are situated on the outskirts of the district which means less pollution from the city, privacy, and security.
Larnaca property investment will provide many opportunities for both your family and self. There are prospects for gaining a passive income or adding to your portfolio by investing in contemporary apartments in the city center and waterfront and luxury villas on the outskirts of Larnaca. Investors have taken a particular interest in Larnaca because of the various property types and other benefits including tax and positive forecast in sustainability. With a 24.4% increase in contracts for property sales and rental prices increasing by 3.4% in 2019, it really is an investors market.