{"id":4243,"date":"2024-03-15T13:00:31","date_gmt":"2024-03-15T11:00:31","guid":{"rendered":"https:\/\/ch.jfdi.cc\/?p=4243"},"modified":"2024-03-15T13:00:31","modified_gmt":"2024-03-15T11:00:31","slug":"larnaca-designated-as-city-with-best-investment-opportunities","status":"publish","type":"post","link":"https:\/\/ch.jfdi.cc\/?p=4243","title":{"rendered":"Larnaca designated as city with best investment opportunities"},"content":{"rendered":"<p><img decoding=\"async\" src=\"http:\/\/ch.jfdi.cc\/wp-content\/uploads\/2024\/03\/larnaca-designated-as-city-with-best-investment-opportunities.jpg\" class=\"ff-og-image-inserted\">Real estate platform INDEX on Friday released a report designating <strong>Larnaca as Cyprus\u2019 key destination for investors and homebuyers seeking profitable ventures<\/strong> in the real estate market, citing a recently conducted analysis of the local property sector.<\/p>\n<p>\u201cThis revelation comes at a time when the sector is witnessing significant inflows from both institutional and retail investors, driven by the quest for higher returns on investments amidst persistently low deposit interest rates,\u201d the company said.Delving into the figures, which were extracted from a pool of over <strong>4,200 real estate listings<\/strong> on INDEX, revealed a sharp disparity in the pricing of new versus pre-owned properties in Larnaca, the company explained.The analysis indicated that the median price per square meter for brand-new real estate stands at \u20ac3,619, whereas pre-owned properties come in at \u20ac2,289 per square metre.The analysis by INDEX takes into account the 19 per cent VAT for brand-new assets and the 4 per cent Transfer of Title Fees (TTF) for pre-owned.\u201cThis substantial 3<strong>6 per cent discount on pre-owned properties<\/strong> not only positions Larnaca as an attractive investment avenue but also as an ideal locale for those scouting for their next home,\u201d the company said.Moreover, notable yet lesser differences in new and pre-owned property pricing were also observed in other regions, including Limassol (25 per cent difference), Nicosia (27 per cent), Paphos (27 per cent), and Famagusta (21 per cent).These findings, the report continued, are based on an analysis of 24.773 new properties and 4,539 pre-owned ones, a sample size robust enough to paint a comprehensive picture of the current market landscape.The company said that the \u201cinsights provided by INDEX are invaluable, highlighting Larnaca as a rising star in real estate transactions but also emphasizing its unparalleled offerings in terms of investment and residential opportunities, making it the go-to destination for both investors aiming to flip properties for a profit and individuals in pursuit of their dream home\u201d.Meanwhile, the founder of INDEX, Anton Karbanovich explained that \u201cin recent years, the real estate landscape is evolving, with a burgeoning \u2018flipping sector\u2019 making its mark\u201d.\u201cMirroring trends in the US and central Europe, an<strong> increasing number of retail and small investors have started venturing into the realm of buying pre-owned properties<\/strong>, undertaking renovations, and then flipping these assets for a profit,\u201d he added.\u201cINDEX\u2019s data analysis underscores Larnaca\u2019s standout position in this market, especially within the residential real estate segment,\u201d Karbanovich concluded.The report also said that \u201cas the real estate market continues to evolve, driven by both global trends and local dynamics, Larnaca stands out as the new destination for real estate endeavours\u201d.Follow the<br \/>\nCyprus Mail  on Google News<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The real estate platform INDEX designated Larnaca as Cyprus&#8217; key destination for investors and homebuyers in the real estate market, based on a recent analysis. This analysis, derived from over 4,200 real estate listings on INDEX, showed a 36 percent price discount on pre-owned properties compared to new ones in Larnaca, with the median price per square meter for new real estate at \u20ac3,619 and for pre-owned properties at \u20ac2,289. The analysis considered 19 percent VAT for new assets and 4 percent Transfer of Title Fees for pre-owned ones. Differences in pricing between new and pre-owned properties were also noted in other regions, such as Limassol (25 percent difference), Nicosia (27 percent), Paphos (27 percent), and Famagusta (21 percent), based on an analysis of 24,773 new properties and 4,539 pre-owned ones. The report highlights Larnaca&#8217;s attractiveness for investment and residential opportunities, with a growing trend of buying and flipping pre-owned properties for profit.<\/p>\n","protected":false},"author":3,"featured_media":4244,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"Default","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[4],"tags":[3,201,1543,250,899,1401,1882,157,24,148,406,130,284,287,2016,380],"class_list":["post-4243","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cyprus","tag-cyprus","tag-europe","tag-famagusta","tag-google","tag-interest","tag-interest-rates","tag-investment-opportunities","tag-larnaca","tag-limassol","tag-local","tag-nicosia","tag-paphos","tag-property","tag-real-estate","tag-real-estate-market","tag-us"],"acf":{"keyphrase":"","keywords":"","sourceimg":"","country-category":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO 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