Real Estate in Larnaca, Cyprus
Last updated on Nov 17, 2024
Summary: Expats and retirees talk about real estate in Larnaca, Cyprus? How do you find a home in Larnaca? Should you buy or rent? What is the cost of housing?
How do I find a place to live in Larnaca?
We asked expats how they chose their neighborhood and found a place to live. They answered:
"Finding a place to live in Larnaca involves several steps. First, you need to determine your budget and the type of accommodation you're looking for. This could range from a small apartment to a large villa, depending on your needs and financial capabilities. Next, you should research the different neighborhoods in Larnaca to find one that suits your lifestyle and preferences. Some popular areas include the city center, Mackenzie, and Dhekelia road. Each area has its own unique characteristics, amenities, and price ranges. Once you have a clear idea of what you're looking for, you can start your search. There are several online platforms where you can find listings for rental properties in Larnaca, such as Cyprus Property, BuySellCy, and Property Link Cyprus. These websites allow you to filter your search based on location, property type, price, and other criteria. In addition to online searches, you can also contact local real estate agencies. They have extensive knowledge of the local market and can help you find properties that may not be listed online. Some reputable agencies in Larnaca include Fox Property Services, Purple International, and Antonis Loizou & Associates. Once you've found a few potential properties, arrange to view them in person. This will give you a better idea of the property's condition, its proximity to amenities, and the neighborhood's atmosphere. Don't hesitate to ask questions about the property, the lease terms, and any other concerns you may have. After viewing the properties, you can make a decision and negotiate the lease terms with the landlord or the real estate agent. Make sure to read the lease agreement carefully before signing it. If you're not familiar with Cypriot property laws, you may want to consult with a lawyer. Finally, once the lease is signed, you can arrange for the move. If you're moving from abroad, you may need to hire an international moving company. Remember to set up utilities and internet service in your new home. Finding a place to live in Larnaca, Cyprus can be a complex process, but with careful planning and research, you can find a home that suits your needs and budget," said one person in Larnaca.
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What is a typical expat home or apartment like in Larnaca?
"A typical expat home or apartment in Larnaca, is often located in a modern building or a renovated traditional house. These homes usually have a spacious living area, with large windows that let in plenty of natural light. The apartments often come with one to three bedrooms, a fully equipped kitchen, and one or two bathrooms. Some homes may also have a balcony or a small garden, offering views of the city or the sea. The interior design often combines modern and traditional elements, with comfortable furniture and high-quality appliances. Many homes also have air conditioning and heating systems, as well as high-speed internet connections. Some apartments may also offer amenities like a swimming pool, a gym, or a parking space. The location of the home is also important for expats. Many choose to live close to the city center, where they have easy access to shops, restaurants, and other amenities. Others prefer to live near the beach, enjoying the beautiful views and the relaxed lifestyle. Regardless of the location, most expat homes in Larnaca are located in safe and friendly neighborhoods, where expats can easily integrate into the local community," explained one person living in Larnaca, Cyprus.
What is the average cost of housing in Larnaca?
If you are thinking about moving to Larnaca, cost of living in probably a key consideration. Expats commented about the cost of housing:
"The average cost of housing in Larnaca can vary greatly depending on the type and location of the property. For instance, a one-bedroom apartment in the city center may cost around €500 per month to rent, while a similar property outside the city center may be around €400 per month. If you're looking to buy property, the average price per square meter in the city center is approximately €1,700, while outside the city center it's around €1,200. However, these prices can fluctuate based on market conditions and other factors," said one person in Larnaca.
Should I buy or rent a home in Larnaca?
If you have not spent a lot of time in Larnaca, you should rent before even thinking about buying. We asked expats there about the buy vs. rent decision:
"The decision to buy or rent a home in Larnaca, largely depends on your personal circumstances, financial situation, and long-term plans. If you plan to stay in Larnaca for a long period, buying a home could be a good investment. Owning a property allows you to build equity over time and could provide a sense of stability and permanence. On the other hand, renting a home in Larnaca might be a better option if you're not planning to stay for a long time or if you prefer flexibility. Renting doesn't require a large upfront investment and it's generally easier to move from a rental property than from a home you own. Additionally, renting can be a good option if you're unsure about the area or if you're still exploring different parts of Cyprus. It allows you to experience living in Larnaca without the commitment of buying a property. However, if you're looking at it from an investment perspective, buying a property in Larnaca could be beneficial. The real estate market in Cyprus has been growing steadily, and Larnaca, in particular, has been attracting a lot of foreign investors due to its strategic location and the development of its infrastructure. In conclusion, both buying and renting a home in Larnaca have their own advantages and it ultimately depends on your personal situation and goals. It's recommended to do thorough research and possibly seek advice from real estate professionals before making a decision," explained one person living in Larnaca, Cyprus.
About the Author
Joshua Wood, LPC is one of the Founders of Digital Nomad Exchange and serves as Co-President of Expat Exchange. Prior to Expat Exchange and Digital Nomad Exchange, Joshua worked for NBC Cable (MSNBC and CNBC Primetime). Joshua has a BA from Syracuse and a Master's in Clinical and Counseling Psychology from Fairleigh Dickinson University. Mr. Wood is also a licensed counselor and psychotherapist.
Some of Joshua's articles include Pros and Cons of Living in Portugal, 10 Best Places to Live in Ireland and Pros and Cons of Living in Uruguay. Connect with Joshua on LinkedIn.
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