Investment Property in Cyprus

Locations - Larnaca

Popular choice

The city of Larnaca is home to Cyprus’s major international airport, and its pretty seaside promenade, clean beaches, numerous museums and countless restaurants make the city popular with tourists. Its facilities and infrastructure ensure that it is a popular choice with expats as well and so the demand for property in Larnaca is high.

Property market

The property market in Larnaca is split between the property available in the main town where the demand is mainly from the resident population, and that on the outskirts of the town where the coast has been developed in recent years. Property in Larnaca has seen some uplift in prices since the city has become more popular with investors, and many new developments are being built in the surrounding suburbs.

Areas for investment

Larnaca’s bay is a popular area for investment, and many of the available rental apartments are located in prime position alongside some of Cyprus’s best hotels. Property in Larnaca benefits from its location in a resort that has a healthy tourist market as well as a traditional Cypriot charm.

Year-round holiday destination

Larnaca feels like a ‘mini-city’ by the sea, and it is easy to see why it has become a popular year-round holiday destination. The town and its surrounding area have more than 25km of beach in total, as well as around 9,500 hotel beds which makes up about 10% of the island’s total capacity.

Tourist attractions

The bustling port of Larnaca attracts the yachting fraternity who, along with the other tourists, are well-catered for at the harbour, which is dotted with restaurants, bars and luxury hotels. While the beaches are popular in the summer months, the Great Salt Lake, just outside Larnaca city, attracts winter tourists wanting to see the thousands of pink flamingos.

Historical city

Historical attractions of Larnaca include the Larnaca Medieval Museum, housed in a 17th-century fort, and the church of St. Lazarus – Lazaras is reputed to be buried in a crypt under the altar. Larnaca is the oldest city in Cyprus and, unlike other ancient Cypriot towns which were abandoned by their inhabitants, Larnaca has been continuously populated for 6,000 years. When Turkey invaded the north of the island, Larnaca received more than 40,000 refugees, tripling its population overnight to its current level of around 65,000.

Scheduled airlines fly direct to Larnaca airport throughout the year and most charter airlines fly from the UK during the summer.