RESIDENTIAL PROJECT
1&2 BEDROOM APARTMENTS
The project is located in one of the most desirable and sought-after areas in Larnaca, 2 minutes away from the Beach and just a few minutes from all amenities, City center, and the touristic Area including restaurants, shops, supermarket and mall. Furthermore, it is strategically located near major transportation routes and public transportation, making it easy to travel around the city. Faneromeni Street is considered as a prime location for high end developments.
MARKET OVERVIEW
BUY TO RENT
The real estate sector in Larnaca experienced a double-digit increase in sales during 2022, with the volume of transactions rising by 31 per cent year-on-year, according to PwC Cyprus’ latest edition of the real estate market publication, which provides insights on the property sector’s performance Larnaca is one of three districts with an annual increase in property sales in the double digits, with the other two being Limassol, which saw an increase of 18 per cent year-on-year, and Paphos, whose property sales rose by 31 per cent on annual basis.
CORE VALUES
Several reasons why someone might consider investing in real estate rental properties in Larnaca:
Potential for appreciation
While past performance does not guarantee future results, historically, real estate in Larnaca has appreciated in value over time. By investing in a property in Larnaca, there is a great potential for the property value to increase in the long run, especially with the new upcoming Marina Project.
High demand
Larnaca today is attracting investors from all over the world. Its Location, (in the middle of Cyprus, and close to all major cities), its international airport, its new Marina, Larnaca is gaining interest by most investors. investing in rental properties could potentially offer a high occupancy rate and steady rental income.
Stable market
Real estate has historically been a stable investment, particularly in areas like Larnaca that are in high demand. Even with the country's recent economic challenges, real estate remains a relatively safe investment option, as people will always need housing.
Diversification
Investing in real estate can be a good way to diversify one's investment portfolio. By investing in rental properties, an investor can spread their risk across different asset classes.
Tax benefits
Real estate investors can potentially take advantage of tax benefits such as depreciation, mortgage interest deductions, and property tax deductions.