Cyprus Property News reports that Larnaca sale prices have risen by 20% to 30% in two years, with Mackenzie the priciest area and the former refinery coast tipped to go higher.
According to Cyprus Property News, estate agents say sale prices in Larnaca have climbed by 20% to 30% over the past two years, driven by demand from both Cypriot and overseas buyers. Rents have also risen to levels comparable with Nicosia. The Real Estate Agents Registration Council puts monthly rents at €600–700 for a studio, €700–800 for a two-bedroom flat and €900–1,000 for a three-bedroom flat. Council president Marinos Kineyirou said prices in the city are approaching Nicosia's levels and showing signs of stabilising, while suburbs such as Tersefanou, Alethriko, Pervolia and Kiti continue to see increases. He also noted that in Livadia, where oil storage tanks were removed from the wider area, values have in some cases tripled in recent years. New-build properties within Larnaca municipality average about €4,000 per square metre, according to Vassos Zakos of Fox's Larnaca office, while Mackenzie can reach €6,000, helped by limited availability. Prices are also high around Saint Lazarus and in the city centre. The next shift could come on the coast near the former refineries, where investments worth hundreds of millions of euros are planned; indicative prices for some developments there start at €10,000 per square metre, and Zakos expects it to become Larnaca's most expensive area. No settled price level exists yet, particularly for seafront plots. Israeli and Lebanese buyers make up a significant part of the market, but demand from Europeans, including buyers from France, Italy, Poland and Germany, has also grown, according to Zakos. Some choose Larnaca as a base to work and live, including digital nomads. Construction activity is rising too: from January to August 2026, the Larnaca District Local Government Organisation issued 3,957 building permits and 2,502 planning permits, up 53% and 42% respectively on the same period of 2025 (2,586 and 1,759). Affordability is becoming a concern. Local officials say they are exploring affordable housing projects, including a land exchange near the new GSZ stadium and a possible bid for EU affordable housing funding in the next programming period. The Cyprus Land Development Corporation (KOAG) is also planning projects in Larnaca, with details expected at a press conference in November.