Larnaca stretches out on the south-east coast of Cyprus. It's the third largest town after Nicosia and Limassol.
Larnaca region has always been one of Cyprus's most essential and diverse regions, where history and authenticity are balanced harmoniously with modern buildings, ports, and rising skyscrapers. Tourists and locals like the city's beautiful extending beaches, bustling Foinikoudes promenade with multiple restaurants and entertainments, old historic neighborhoods, and the Salt Lake, which is filled with pink flamingos during the winter months - a beautiful piece of nature in the heart of the city.
Larnaca is also one of the most accessible cities on the island. Larnaca International Airport is Cyprus's primary airport, and its Port and Marina serve all types of vessels, from businesses to private yachts.
This historical and industrial city attracts many foreign investors. The development boom in Larnaca started a few years ago, and more investments are planned for the upcoming years. The largest development in Larnaca today is Larnaka-Land of Tomorrow, which was started by Petrolina Group.
Let's look at the price distribution in the city's most popular areas for renting and selling apartments (one —and two-bedroom apartments in buildings not older than five years).
District | Min Sale 1bd | Avg Sale 1bd | Min Sale 2bd | Avg Sale 2bd | Min Rent 1bd | Avg Rent 1bd | Min Rent 2bd | Avg Rent 2bd | 1bd Rate | 2bd Rate |
---|---|---|---|---|---|---|---|---|---|---|
Agioi Anargyroi | 112000 | 144571 | 134000 | 211564 | 1200 | 1200 | 0 | 0 | 0.83 | 0 |
Agios Nikolaos | 125000 | 198182 | 177000 | 350000 | 750 | 800 | 1200 | 1240 | 0.40 | 0.35 |
Aradippou | 120000 | 148979 | 160000 | 234046 | 1150 | 1150 | 1100 | 1255 | 0.77 | 0.54 |
Chrysopolitissa | 140000 | 232100 | 199000 | 268750 | 0 | 0 | 900 | 1450 | 0 | 0.54 |
Dhekelia | 138457 | 217699 | 245000 | 328800 | 0 | 0 | 0 | 0 | 0 | 0 |
Dromolaxia | 0 | 0 | 295000 | 295000 | 0 | 0 | 0 | 0 | 0 | 0 |
Drosia | 110000 | 150476 | 165000 | 265673 | 0 | 0 | 1100 | 1314 | 0 | 0.49 |
Faneromeni | 140000 | 186875 | 200000 | 311305 | 0 | 0 | 1500 | 1500 | 0 | 0.48 |
Finikoudes | 770000 | 1022905 | 1100000 | 1763667 | 900 | 1050 | 1000 | 1711 | 0.10 | 0.10 |
Kamares | 114400 | 131550 | 150000 | 226118 | 0 | 0 | 1000 | 1300 | 0 | 0.57 |
Krasa | 110000 | 141067 | 140000 | 198260 | 0 | 0 | 1250 | 1575 | 0 | 0.79 |
Kiti | 110000 | 138183 | 125000 | 202225 | 0 | 0 | 0 | 0 | 0 | 0 |
Livadia | 120000 | 177993 | 130000 | 270767 | 0 | 0 | 1000 | 1231 | 0 | 0.45 |
Mackenzie | 165000 | 238132 | 280000 | 489939 | 1000 | 1114 | 1400 | 1765 | 0.47 | 0.36 |
Makariou | 225000 | 235000 | 239000 | 392368 | 0 | 0 | 1200 | 1280 | 0 | 0.33 |
Mazotos | 0 | 0 | 125000 | 125000 | 0 | 0 | 0 | 0 | 0 | 0 |
Meneou | 160000 | 160000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Metropolis Mall Area | 105000 | 207588 | 147000 | 284972 | 850 | 875 | 850 | 1082 | 0.42 | 0.38 |
New Marina | 92500 | 170168 | 200000 | 282896 | 700 | 964 | 800 | 1401 | 0.57 | 0.50 |
Oroklini | 115000 | 121700 | 149000 | 169450 | 0 | 0 | 0 | 0 | 0 | 0 |
Pervolia | 0 | 0 | 155000 | 180250 | 0 | 0 | 850 | 967 | 0 | 0.54 |
Pyla | 130000 | 159668 | 149000 | 247832 | 0 | 0 | 0 | 0 | 0 | 0 |
Sotiros | 150000 | 164444 | 195000 | 264000 | 0 | 0 | 900 | 1400 | 0 | 0.53 |
Spiros Kiprianou | 150000 | 156500 | 190000 | 269571 | 0 | 0 | 0 | 0 | 0 | 0 |
Tersefanou | 70000 | 113270 | 120000 | 138154 | 0 | 0 | 0 | 0 | 0 | 0 |
Town Center Larnaca | 103650 | 247842 | 515000 | 606243 | 1150 | 1238 | 1000 | 1640 | 0.50 | 0.27 |
Tsiakilero | 155000 | 172500 | 185000 | 216963 | 0 | 0 | 0 | 0 | 0 | 0 |
Xylofagou | 0 | 0 | 110000 | 129429 | 0 | 0 | 0 | 0 | 0 | 0 |
Zygi | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
District | Min Sale 1bd | Avg Sale 1bd | Min Sale 2bd | Avg Sale 2bd | Min Rent 1bd | Avg Rent 1bd | Min Rent 2bd | Avg Rent 2bd | 1bd Rate | 2bd Rate |
The prices are apparently higher in the city center and beachfront regions. However, the Dhekelia coastal front, where the Larnaka-Land of Tomorrow is taking shape, still has lower prices because of the area's development.
The last two columns present each region's potential cash flow rate, which is calculated as the average monthly rent divided by property value (sale price). The higher the percentage, the better the cash flow.
For comparison with other Cyprus cities, please refer to: