For the past 5 years or so, nearly every part of Cyprus has resurged from the recent economic crisis. In fact, according to PwC, the GDP growth surpassed the 3% mark in 2017, putting Cyprus amongst the fastest growing economies in the EU. While economic growth is felt across the nation, one particular city has consistently exceeded expectations when it comes to real estate opportunities: Larnaca.
Island’s 3rd largest city, Larnaca is considered one of the best places in Cyprus for real estate investment. And with good reason. For starters, Larnaca is situated only a 50-minute drive from the capital, Nicosia. But that isn’t all there’s to this vibrant city.
Here are 5 reasons why real estate investment in Larnaca is a goldmine for the discerning investor.
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Strategic Location = Real Estate Investment Opportunities
If there’s something that places Larnaca on the map in the real estate world is its fantastic location. It’s nestled between Island’s major cities, including Ammochostos, Limassol, and Nicosia. It doesn’t matter if you are interested in apartments, marina homes, villas, condos, hotels or land for development, there’s something for every investor in Larnaca.
Favorable Property Prices
Unlike established markets like Nicosia, Larnaca has investment properties that will meet and exceed your expectations as an investor. What’s more is that property prices in Larnaca are still surprisingly undervalued. That means you can buy cheap and expect to fetch good money in the coming years.
Ultimate Leisurely Lifestyle
Pristine beaches, year-round sun, and sand – welcome to the paradise that is Larnaca. That’s why the lifestyle of this fantastic island city attracts tourists from every corner of the world. Whether families, honeymooners or solo travellers, Larnaca has plenty of things for everyone to see and do. It’s the perfect place to kick back, enjoy local eats, relax, and soak up the sun away from all hustles and bustles of life.
With tourists and locals coming in throughout the year, that means Larnaca is always a beehive of activity, and business is continuously booming. Call it the Holy Grail, Larnaca is a slice of heaven for property investors.
Cyprus International Airport is in Larnaca
Need we say more? With tourists, business people, and visitors streaming into Cyprus, Larnaca is always the port of entry. More importantly, Larnaca International Airport has been undergoing large-scale upgrades in recent years. As if that isn’t fabulous enough, Larnaca is also home to one of the biggest ports of call for luxury yachts, cruise lines and boats in the country.
Plenty of New Developments to Snap Up
If you are interested in new developments, there are many properties to choose from in Larnaca. Take its central area, for instance; it is perhaps one of the most sought-after up-and-coming development areas in Cyprus. And the area is a stone throw away from virtually everything Larnaca has to offer, including finesse cafes, vibrant nightlife, shopping centres, and is in just a short walk from the sea front.
there are several designer golf courses under development in Larnaca, the biggest Mall in Cyprus and new Marina.