Cyprus property

Larnaca a prime hotspot for real estate investors

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Larnaca a prime hotspot for real estate investors

Cyprus-based real estate platform INDEX.cy released a report identifying Larnaca as a key destination for investors and homebuyers in the real estate market. The report is based on an analysis of the local property market, highlighting significant investor interest due to low deposit interest rates. Analysis of over 4,200 real estate listings on INDEX.cy showed a notable price difference between new and pre-owned properties in Larnaca, with new real estate priced at €3,619 per square meter and pre-owned properties at €2,289 per square meter, accounting for respective taxes and fees. This represents a 36% discount on pre-owned properties. Similar price differences were observed in other regions, albeit smaller. The findings are based on an analysis of 24,773 new properties and 4,539 pre-owned ones. The report underscores Larnaca’s growing significance in real estate transactions for both investment and residential purposes. Anton Karbanovich, founder of INDEX, mentioned the emergence of a ‘flipping sector’ where investors buy, renovate, and sell pre-owned properties for profit, with Larnaca being particularly notable in this trend. The report concludes that Larnaca is becoming a prominent destination for real estate investments and endeavors.

REALTYon: No. 1 Cyprus property event returns bigger and better

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REALTYon: No. 1 Cyprus property event returns bigger and better

REALTYon, the only event in Cyprus dedicated to the entire property industry, is set for its second edition on July 3-4, 2024, at the City of Dreams Mediterranean Integrated Resort. The event, which promises to be larger than its previous edition, has already sold out 80 percent of its expo floor. It aims to bring together over 1,000 attendees and more than 20 exhibitors compared to the last year, making it the largest gathering for property experts in Cyprus. Organized by Ultimate Fintech, the expo will feature over 70 property developers and real estate agents, showcasing more than 200 projects. The event covers a wide range of topics within the property industry, including investment, residential, commercial, luxury homes, new developments, resorts, and environmental construction. Notable participants include Imperio Properties, CDA Group, Vassos Markides, Limassol Greens, Crona Group, Pafilia, DOM.com, and Marfields. The 2024 edition will offer over 10 hours of content on more than 15 real-estate industry topics, addressing themes like moving to Cyprus, investing in real estate, proptech, ESG and sustainability, and tokenization in real estate.

Is it worth investing in gated projects?

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Is it worth investing in gated projects?

Gated projects in Cyprus have become increasingly popular due to the rising crime rates and the need for increased security. These projects offer a sense of added security and privacy, discourage unwanted visitors and traffic, and can be equipped with cameras for added security. However, there are some drawbacks, including the initial cost and maintenance expenses, the potential for visitors or maintenance workers to bypass the gate, and the inconvenience of being locked out if the gate malfunctions. The article suggests a suitable system for gated projects, including an electrically controlled gate with a code and remote control, an intercom system, a manual override in case of power failure, and a sensor for automatic opening. The author also advises homeowners to consider additional security measures such as aluminum shutters and burglar alarms. Overall, gated projects provide added security but come with some challenges.

Limassol Del Mar is , “most Instagrammable building”

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Limassol Del Mar is , “most Instagrammable building”

The landmark Limassol Del Mar building in Cyprus has gained popularity on Instagram, with over a thousand posts about it. The building has a unique curvilinear design and offers residents views of the Mediterranean Sea from every angle. It is known for its luxurious amenities and commitment to five-star living. The building features a range of two to six-bedroom residences and penthouses with terraces and top-of-the-range finishes. It also includes an owner’s club, concierge services, spa areas, pools, gyms, tennis courts, and underground parking.