Larnaca has the fastest-growing apartment prices in Cyprus, and it is the district where expectations and evidence most often diverge. Owners have heard what is happening around the port and the marina. Whether it has reached their building is a separate question.
CPA is led by Michael Efstathiou MRICS, in practice since 2012, ETEK-registered, working to the RICS Red Book, current edition effective 31 January 2025.
The district numbers
Central Bank of Cyprus index, Q1 2026, year on year: Larnaca apartments up 11.7%, houses up 5.1%. That apartment figure is the highest of any district in the index, ahead of Limassol at 10.7% and against a national apartment figure of 10.8%.
Sales contracts for January to July 2026: 2,599 in Larnaca, up 11% on last year, in a national market of 12,047, up 14%.
Our observation: the apartment growth is concentrated, not general. Newer coastal and town-centre stock has moved hardest. Older blocks a few streets inland have not moved at the same rate, and using a district apartment figure on them overstates value.
Where we work
Finikoudes and the town centre. Oroklini and Pyla. Livadia and Aradippou. The Dhekelia road corridor. To the south and west: Kiti, Perivolia, Mazotos and Tersefanou.
The marina and port redevelopment
The redevelopment of the Larnaca marina and port area sits behind a great deal of the current sentiment in the town. In our experience it is producing two distinct effects that need separating in a valuation: an actual, present premium on completed stock with a genuine outlook or short walk to the front, and an anticipated premium being priced into asking figures further back.
We value on evidence of transactions, not on projected regeneration benefit. Where an asking price appears to be carrying expectation rather than completed value, the report will say so.
Airport proximity, both ways
Larnaca airport is one of the district's real economic advantages and, for some parcels, a constraint. Proximity supports demand for short-let apartments, business use and buyers who travel. Closer in, flight path position and noise are matters we take into account where they affect the specific property, and there are height and planning considerations attaching to parcels near the airport that should be established rather than assumed.
Oroklini, Pyla and the Sovereign Base Area boundary
The eastern side of the district runs towards the Dhekelia Sovereign Base Area. Our observation is that parcels near that boundary need their planning position confirmed individually. The administrative position is not uniform across an area, and inferring the status of one parcel from its neighbour is a mistake we see made in listing particulars.
Pyla and Oroklini in particular hold a mix of older village stock, newer estate housing and holiday apartments in a small geographic area. They do not share one price per square metre and we do not treat them as if they do.
Village land and agricultural parcels
Kiti, Perivolia, Mazotos, Tersefanou and the inland villages bring land instructions where zone, building coefficient, coverage, legal access and division potential decide the answer. A parcel in an agricultural zone with a village boundary nearby is not development land until the zone says it is.
What we are instructed to do in Larnaca
Bank lending valuations and revaluations of existing security. Purchase and sale advice. Probate and estate valuations. Matrimonial and court reports. Capital gains tax and transfer fee purposes. Company accounts and IFRS fair value. Insurance reinstatement cost. Land, development sites and part-built work.
Owners should note that the Land Registry General Valuation figure, base date 1 January 2021, is for tax purposes only. The Department of Lands and Surveys states it cannot be used for sales, investment or borrowing.
Get a Larnaca valuation started
Give us the address, the parcel or title details if available, and the purpose. We will confirm scope, fee and timing before we start.
Call +357 25254222, mobile +357 96569477, or email info@cypruspropertyappraisals.com.
Tell us the property and the purpose.
We confirm in writing what the report will contain and what it will cost, before any work begins.