Larnaca apartments for sale
Apartments for sale in Larnaca, what is the logic?
"Kition (today called Larnaca) has a closed harbor. It is the birthplace of Zeno - the founder of the Stoic school." (Strabo, "Geography")
Larnaca, the birthplace of the great Greek philosopher Zeno of Kition (in Greek Ζήνων ὁ Κιτιεύς, born in 333 BC, died in 264 BC), is included in a very honorable place in the ranking of the oldest cities in Europe with the richest cultural heritage, and today is also ranked among the most attractive destinations for real estate investments.
Zeno is the one who introduced the concept of "logic" to the forefront of philosophy, aiming to teach people to judge things correctly and avoid mistakes. Logic, Zeno said, is like a fence protecting the garden where the trees are physical objects and the fruits are ethics.
Larnaca apartments for sale... What does the price say and what does logic whisper?
Zeno would say that logic ("logic" itself), is like a fence protecting the orchard where the trees are physical objects and the fruits are ethics.
Let's use Zeno's "logic" to understand what is happening to real estate prices in his birth city and why apartments for sale in Larnaca have become one of the most attractive investment assets today, attracting investors from around the world. Just as an example, for the distinguished native of Larnaca to be pleased with our "logic": Cypriot real estate sales to investors and buyers from abroad accounted for about 46% of total property sales in 2023 (including apartments for sale in Larnaca), an increase of 43% since 2008.
Cyprus has experienced a awakening in the real estate market in recent years, driven by foreign investments, especially in projects related to tourism and housing, as well as transportation infrastructure development. Larnaca has seen a noticeable increase in the number of apartment and office space sales. According to market data published by the Central Bank of Cyprus, the rise in apartment prices for sale in Larnaca, in particular, and in Cyprus in general, is also due, among other things, to the policy of the government of Cyprus, which attracted about 1,000 foreign companies to relocate offices and open branches in Cyprus in 2022 alone.
A significant number of international corporations and technology companies have moved or opened offices on the island in 2023 as well, with many seeing it as a stable haven amid political turmoil and geopolitical uncertainties in several countries. This has led to the relocation of a large number of employees and their families to Cyprus, resulting in increased demand for rental and residential property. Continuous growth and influx of foreign investments have led to an increase in real estate prices, reflecting the attractiveness of investing in apartments for sale in Larnaca.
Larnaca apartments for sale - Opportunity or risk?
Larnaca apartments for sale have several important advantages: firstly, Larnaca has an international airport, secondly, it has a seaport and yacht marina. Thirdly, purchasing an apartment in Larnaca gives the property owner a foothold in the third-largest city in Cyprus, which is not the largest, but significant, and thus has very high potential for development in the near future, being a tourist center and business hub. Fourthly, Larnaca is characterized by a synergy between a tourist resort town and a business city and a port. Larnaca has an impressive coastline with kilometers of clean sandy beaches, gentle brownish Mediterranean waters, calm, subdued, and transparent, and plenty of opportunities for leisure, sports, and entertainment. Larnaca seamlessly combines both its "faces": a charming and diverse seaside resort town and a modern and developing business city.
All this explains the "logic" (the logic) of the continuous upward trend in property values and apartment prices for sale in Larnaca. Local real estate is in demand both as housing due to developing tourism and business growth and due to demand among a large number of immigrants (or "expatriates").
This allows us to predict that the demand for residential real estate will remain fairly stable, primarily due to the rising prices for apartments for sale in Larnaca, which ensure a good return on investment.
The philosopher Zeno would be pleased to see how his birth city is developing; he called the interpretation of facts in this method "cataleptic"; in his understanding, facts connect thought with the real object. Zeno saw in "catalepsis" the criterion (measure) of truth.
Apartments for sale in Larnaca: Central Bank of Cyprus speaks
To confirm the picture, let's turn again to the actual data from the Central Statistical Office of Cyprus: housing prices on the island of Aphrodite have been increasing every year in all regions.
Rent increases in Larnaca in the third quarter of 2023 were 2.8%, compared to Nicosia, where there was an increase of only 0.7%, and Paphos with an increase of only 2.4%.
Compared to the previous year (2022), prices rose in all regions. The most significant increase in housing prices was recorded in Larnaca - by 10.5%, in Nicosia - by 3.9%, in Limassol - by 10.1%, in Paphos - by 7.6%, and in Famagusta - by 6.4%.
According to a publication by the Central Bank of Cyprus, potential buyers are eager to take advantage of the current opportunity to purchase real estate from the existing housing stock, either to buy an apartment or to invest in property before changes in VAT policy.
Therefore, Larnaca is now a new and promising investment destination in Cyprus. In recent years, several commercial real estate investments have also been made here, including a new shopping center.
The Israeli community in Cyprus is growing year by year and mainly resides in the cities of Larnaca, Nicosia, Limassol, and Ayia Napa. In these cities, there are thriving synagogues and Jewish centers near children's gardens and day schools.
Larnaca (Kition) is included in a very honorable place in the global ranking of the oldest cities in Europe with the richest cultural heritage, thanks to the birth city of one of the brilliant philosophers of antiquity, Zeno of Kition. Zeno was the first philosopher after Jewish rabbis to bring the principle of "ethics" to the forefront of the stage as more important than human values.
At the beginning of his career, Zeno engaged in maritime trade. One day, his merchant ship sank, and Zeno lost all his wealth, but he was saved by chance. After that, he decided to devote himself to philosophy. In Athens, Zeno studied philosophy and later established his own school in a colonnade with columns, called the Stoa in Greek (Στοά). This gave his philosophical school its name: "Stoicism." Zeno was a very prolific writer. He wrote more than 30 books, some of which were so complex that only students with exceptionally high knowledge were able to understand them. Historians of ancient philosophy see Zeno as the father of general philosophy because of his philosophical school "Stoicism," which reached the highest level both in terms of universality and depth of thought. Zeno taught self-awareness and the soul as eternal categories and believed that justice, integrity, and happiness are only derivatives of a higher level. Purchasing an apartment for sale in Larnaca can be for you not only an investment in real estate but also an opportunity to connect with the history of this unique city that continues to inspire not only historians and philosophers but also people of our time like you and me who appreciate the principles of "logic" and ethics.
