Since 1970
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Newsletter

Cypriot Investment Scheme
Repossession Property Yield Properties

Latest news

  • 9 October 2019 Landmark Agreement between Cyprus and the United Kingdom

    FULL details of the landmark agreement between Cyprus and the United Kingdom... read more

  • 3 October 2019 Breaking News Potential Change to Definition of Russian Tax Residency for Individuals

    Individuals spending 90 days a year in Russia, or having their centre of... read more

  • 10 September 2019 Many Home dwellers few are the first borrower applications

    Implementation of the Home plan has not begun with the best odds, as... read more

  • 3 September 2019 Home plan from tomorrow for 10 thousand borrowers

    After months of discussions, the Home Plan is being implemented from tomorrow... read more

  • 2 September 2019 July property sales hold steady Update

    The number of Cyprus property sales during July was the same as the number... read more

Cypriot Investment Scheme
Repossession Property Yield Properties

Latest news

  • 9 October 2019 Landmark Agreement between Cyprus and the United Kingdom

    FULL details of the landmark agreement between Cyprus and the United Kingdom... read more

  • 3 October 2019 Breaking News Potential Change to Definition of Russian Tax Residency for Individuals

    Individuals spending 90 days a year in Russia, or having their centre of... read more

  • 10 September 2019 Many Home dwellers few are the first borrower applications

    Implementation of the Home plan has not begun with the best odds, as... read more

  • 3 September 2019 Home plan from tomorrow for 10 thousand borrowers

    After months of discussions, the Home Plan is being implemented from tomorrow... read more

  • 2 September 2019 July property sales hold steady Update

    The number of Cyprus property sales during July was the same as the number... read more

Larnaca Real Estate Market

It is without doubt that the Cyprus real estate market has now started an upward curve. Interest and demand in properties by foreign investors has translated into actual sales. Government measures to restart the economy, combined with town planning and tax incentives gave a great stimulant to the property market and particularly in Larnaca.

 

 In recent years 6 small hotels in the city and on Dhekelia road were sold as well as coastal land for the development of luxury houses. Remarkably availability for resale properties near the sea and the city center has almost been exhausted due to the strong demand from the Middle East and Cypriots living abroad combined with the fact that in the last eight years construction of new units was almost nonexistent.

 

However for the past year there is increased building activity in Drosia and Mackenzie areas, as well as on Dhekelia road.  The latter is in our opinion the best area in Larnaca, where of course prices are higher.  This area is only 5 minutes drive from the city center, all units are walking distance from the beach and it is mainly a quiet area with homes and a few apartment blocks.

 

Finally we would like to mention that our associate developers, with years of experience in this sector, will soon begin construction on 2 projects that will be targeted towards buyers who are looking to buy detached one level houses near the sea, something that is very difficult to find now as a resale due to the low building factor in the Dhekelia Road area.  

 

http://www.palourtis.com/property/4730

 

In addition, preparation for the construction of large luxury modern apartments next to the American Academy and Mediterranean High School are on their way.  These will facilitate families who have children in the above schools and want to have easy and secure access to the schools. It is worth noting that none of these projects are mortgaged and property titles are guaranteed.