06.06.2024
The city of Larnaca and its surrounding coastal areas are in great demand among foreign investors, who are buying up all available residential properties en masse, thereby raising demand and prices to unprecedented levels.
Fresh money is being invested into the real estate market by attracting new foreign capital without borrowing, making the economic picture significantly different from that seen in the first decade of the 2000s. All stakeholders are actively participating in the observed growth, which brings numerous profits and benefits to the region.
Following the stagnation caused by the 2013 banking crisis and the general global recession that also affected Cyprus, a new dynamic has emerged that is transforming Larnaca and its surroundings.
The foundations laid are very strong, enriching the real estate market and helping the region and the local economy as a whole. Real estate is turning into “securities” and Larnaca is growing every day, awaiting the start of new diamond projects that will turn it into a metropolis. In addition to traditional development, which brings renovation of buildings, demolition of old buildings and renovation of new apartment buildings in urban areas, all vacant lots are being developed, and existing apartment buildings are being renovated, including buildings that are cultural heritage sites.
But significant development and change in the city and its environs are brought by big businessmen with vision who design and plan modern large buildings and developments. They will meet new needs with infrastructure such as mixed-use developments, a mix of new modern office and residential accommodation, leisure and wellness centres, large mixed-use spaces and retail and modern tourism developments.
Larnaca will attract tourists all year round: for short stays to enjoy the sun, sea and entertainment, for conferences with accommodation, sporting events, tournaments, water sports and team training with the provision of playing fields and equipment.
The planned investments will benefit the entrepreneurs themselves and will allow Larnaca to take a leading position on the map of Cyprus and Europe as a growing, safe and prosperous city with the active participation of entrepreneurs, investors and local and regional governments.
Modern architectural design
It seems that the adoption of modern architectural design, the use of new building materials, especially taking into account the height of new buildings, as well as fully automated solutions, will meet all the new requirements that will provide residents with security, privacy and, above all, comfort and pleasure from living in this place.
Near the complex there are the necessary institutions and services to satisfy all needs, such as schools, kindergartens and higher education institutions.
Advantages of Larnaca
Larnaca offers many advantages as a small developing city located in a favorable geographical area. It can be a business center, a tourist destination, a service provider and, above all, a special quiet cosmopolitan environment. The international airport offers connections to all parts of the world and easy transportation at any time and in any season with flights from a wide range of airlines. The distances are short, it has its own port and marina and if these projects are successful they will bring even more development potential to Larnaca and the economy.
Based on the above, a very strong business initiative is being developed with a vision and actions that convince the credibility of existing and new projects that are planned or implemented and which will be an asset to the city of Larnaca and its surroundings.
Larnaca has been the site of continuous construction of new projects for some time now, visible to its residents. They watch the city grow and develop every day. Similar developments are observed in the neighboring districts of Aradippou , Livadia, Oroklini , Pyla, Dhekelia , Kiti, Tersefanou and Mazotos .
The population and the number of foreigners arriving are gradually increasing, mobility is everywhere, people fill the entertainment centers where life is in full swing and, above all, offer work and income. Comparative advantages make Larnaca a profitable investment and tourism destination.
