Living in Cyprus
Living In Cyprus
EU Status
In 2004 Cyprus became a member state of the European Union and adopted European laws by modifying its Constitution in order to harmonize it with EU Directives. Cyprus is also a signatory to many international treaties and conventions. On 1 January 2008 Cyprus joined the Eurozone and adopted the Euro (€) as its national currency.
Climate
One of the advantages of the Mediterranean region is its warm climate all year round, and Cyprus is no exception. Warm weather and clear sunny skies are guaranteed for almost 365 days a year. It is so warm in Cyprus that it snows every winter for only a few days.
The average sea temperature of the island ranges from 20 to 27 ° C from May to November. A warm winter is very important for those who think about moving, and not just about a short visit to Cyprus during their summer holidays.
Living In Cyprus
One of the lowest crime rates
The crime rate is very low. This is very important if you go to live in Cyprus with children and dear loved ones. Cyprus is recognized as one of the safest countries in the world for living or vacationing. Many Cypriots don’t even lock the front door at night!
Cost of living
Even though the country itself is developed, the cost of living in Cyprus, and especially in Larnaca, is much lower than in other developed countries of the European Union. Such examples include the cost of gasoline, food, water, telephone and much more, which makes moving to Cyprus not expensive relative to the center of Europe.
Living In Cyprus
Healthcare
You can go here to live for a long time and live in Cyprus until old age without fear for your health. There are private and public hospitals in every city in Cyprus, close to your future residence. In case of emergency, you can visit the emergency department at the state hospital, at any time, for 10 euros.
Ormidea Beach: Embrace the Beauty of Our Coastal Paradise
Introduction
I had the pleasure of visiting the newly renovated fishing harbor in Ormidea today, situated right next to the charming ROMANTZO restaurant. Let me tell you, I was absolutely captivated by the breathtaking transformation this area has undergone. I couldn’t resist capturing its beauty through the lens of my camera.
A Transformation Like No Other
Over two years ago, we embarked on a journey to renovate and reconstruct Ormidea Beach, thanks to funding from a European initiative. And now, as the project nears completion, I can confidently say that the results are nothing short of astounding. This tranquil haven for fishermen has evolved into one of the most alluring destinations, attracting the attention of prospective investors who wish to make their mark on this coastal paradise.
Investment Opportunities in Ormidea
As both a real estate agent and developer affiliated with NEWZOE DEVELOPMENTS, I’ve witnessed a growing interest among investors who want to acquire residential and touristic land within the new Ormidea tourist area. Together, we envision creating exquisite resorts, idyllic holiday villages, and luxurious villas that will enhance the allure of this remarkable locale.
Prime Location and Access
What sets Ormidea apart is its strategic location between Larnaca and Ayia Napa, ensuring swift and convenient access from Larnaca International Airport. This promises an effortless travel experience for visitors. What’s more, the current land prices in Ormidea are considerably reasonable when compared to areas like Dekelia Road, which is renowned as the crown jewel of Larnaca Bay.
Nature’s Beauty Unveiled
Ormidea’s new tourist area begins just 90 meters from the beach, offering a verdant belt of lush greenery that stretches before any potential developments. We’ve also implemented pedestrian walkways and established expansive parklands with panoramic sea vistas, creating a picturesque and intimate tourist enclave that exudes its own unique character.
Preserving Identity and Heritage
One crucial notion that I fervently hope will be embraced is the enforcement of mandatory architectural guidelines for any new construction along the waterfront. By incorporating elements inspired by our rich cultural heritage and traditions—such as locally sourced stone and distinctive architectural features—we can ensure that Ormidea’s identity and heritage remain intact. Let’s learn from the mistakes of other towns in Cyprus, where once-beautiful and charming locations have succumbed to the overwhelming tide of impersonal concrete developments, eroding the very essence that once drew visitors in.
Showcasing Authentic Experiences
Ormidia’s beachfront is a pristine canvas of unspoiled potential, teeming with a wealth of possibilities for a prosperous future. We can showcase the rich tapestry of our heritage by promoting local attractions such as the renowned Promegrome Festival, the ancient archaeological sites nestled amidst the village’s higher reaches, and even the haunting remnants of a World War I warship. These experiences offer visitors an authentic glimpse into our history and culture.
Embrace a Tranquil Haven
In conclusion, Ormidea beckons us to forge a tranquil and distinctive haven, ensuring that the mistakes of the past are not repeated. This land holds the promise of becoming a haven for tourists, a catalyst for job creation, and a source of Fresh new opportunities for both our fellow citizens and the generations that will follow. Together, let’s tread the path of mindful and intelligent development, steering clear of soulless structures, and celebrating the unique charm that defines Ormidea.
Come and experience the beauty of OrmideaBeach firsthand. Invest in a destination that promises a prosperous future and discover the true essence of coastal living.
Global Firm Marks First Year In Cyprus With New Larnaca Office
DataArt, a global software engineering firm, has opened a new office in Larnaca, Cyprus, to mark its first anniversary in the country. The new office is located in the prime business center of Larnaca, with stunning views of the sea.
Apartments Outshine Houses In Booming Larnaca Property Market
Apartments Outshine Houses in Larnaca Property Market: Key Insights
Cypriot firm Ask Wire recently released a report on real estate sales in Larnaca, covering 2022 and early 2023. The report sheds light on the prevailing property market trends in the city.
The data reveals that Larnaca residents have shown a significant preference for apartments over houses. Buyers purchased 1,929 apartments and 864 houses in the previous year, indicating a notable increase in apartment sales.
After the report’s release, Paulos Loizou, CEO of Ask Wire, expressed excitement about the stellar performance of Larnaca’s real estate sector in 2022. When analyzing the housing and apartment market data, it becomes apparent that locals primarily purchase properties for residential purposes.
The report also highlights a smaller luxury housing and apartment market, primarily influenced by Israeli and Lebanese investors. Although this market is comparatively smaller than locations like Limassol, it is expected to continue growing in 2023.
Regarding prices, the majority of apartments sold in the Larnaca district in 2022 were valued below €211k, with only 11.3% sold at higher prices. Buyers consistently showed interest in apartments priced up to €211k and houses up to €278k.
Buyers acquired 407 apartments below €77k, 841 apartments between €77k and €144k, and 462 apartments between €144k and €211k. Additionally, 91 apartments were purchased in the €211k to €278k range, with another 65 apartments sold in the €278k to €345k range. The report also notes that 63 apartments were sold at a value exceeding €345k.
In the housing market, the focus predominantly remained on properties valued between €77k and €278k. Out of the 864 houses sold in 2022, 542 houses (62.7%) fell within this price range. Buyers acquired 199 houses in the €77k to €144k range, 196 houses in the €144k to €211k range, and 109 houses below €77k. Furthermore, 147 houses were sold between €211k and €278k, along with 106 houses between €278k and €345k. A total of 107 houses were sold with a value surpassing €345k.
In Q1 2023, the property market in Larnaca remained dynamic, with 530 houses and apartments being sold. These transactions accounted for 19% of the overall sales in 2022.
The report offers valuable insights into the flourishing Larnaca property market, where apartments are outperforming houses. The trend of strong apartment sales and the sustained interest in specific price ranges are expected to continue, while the luxury housing segment continues to attract international investors.
Real Estate Investing In Larnaca
Real Estate Investing In Larnaca
Larnaca is a booming city for real estate investment in Cyprus, thanks to its attractive features and development projects. Here are some of the reasons why investors are choosing Larnaca:
- High-Value Development Projects: Larnaca is undergoing a major transformation with several high-value projects that will enhance its infrastructure, tourism, and economy. The most significant one is the New Marina and Port redevelopment, worth €1.2 billion, which will create a mixed-use waterfront destination with luxury properties, hotels, shops, restaurants, and marina facilities. Other projects include the Metropolis Mall, the New Municipal Market, the Staston Project, and the upgrade of the Larnaca-Dhekelia coastal road.
- Consistent Growth In The Real Estate Market: Larnaca’s real estate market has shown consistent growth in sales value and volume, especially in the apartment and house segments. According to the Department of Lands and Surveys, the total sales value in 2022 reached €682 million from 4,243 transactions, an increase of 30.4% and 23.4% respectively from 2021. The rental market has also increased due to population growth, relocation of companies, and influx of foreign investors.
- Affordable Prices And High Returns: Compared to other cities in Cyprus, Larnaca offers more affordable prices for properties, land, and business registration. This makes it an attractive option for investors who want to enter the market with lower costs and higher returns. Larnaca also offers a range of properties for different budgets and preferences, from modern apartments in the city center to lavish villas by the sea.
- Appealing Lifestyle And Location: Larnaca is a city that offers a high quality of life and a stress-free lifestyle. It has a Mediterranean climate, a low crime rate, a rich cultural heritage, and a vibrant social scene. It also has a strategic location as a gateway to Europe, Asia, and Africa, with the island’s largest international airport and port. Larnaca is also close to other popular destinations in Cyprus, such as Ayia Napa, Nicosia, and Limassol.
If you are interested in investing in Larnaca’s real estate market, contact us today and let us help you find your ideal property. We have over 40 years of experience in the market and a diverse portfolio of projects that suit your needs and expectations. We also offer legal advice, property management, after-sales support, and citizenship by investment programs.
