In a recent comprehensive analysis by the innovative real estate platform INDEX, Larnaca has been identified as the prime hotspot for investors and homebuyers looking for lucrative opportunities in the real estate market. This 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.

A deep dive into the figures, extracted from a pool of over 4,200 real estate listings on INDEX, reveals a striking disparity in the pricing of new versus pre-owned properties in Larnaca. The median price per square meter for brand-new real estate stands at €3,619, whereas pre-owned properties come in at €2,289 per square meter. The analysis by INDEX takes into account the 19% VAT for brand-new assets and the 4% Transfer of Title Fees (TTF) for pre-owned. This substantial 36% discount on pre-owned properties not only positions Larnaca as an attractive investment avenue but also as an ideal locale for those scouting for their next home.

Notable yet lesser differences in new and pre-owned property pricing were also observed in other regions, including Limassol (25% difference), Nicosia (27%), Paphos (27%), and Famagusta (21%). These findings 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 insights 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, make it the go-to destination for both investors aiming to flip properties for a profit and individuals in pursuit of their dream home.

The founder of INDEX, Anton Karbanovich explains: “In recent years, the real estate landscape is evolving, with a burgeoning 'flipping sector' making its mark. Mirroring trends in the US and central Europe, an increasing number of retail and small investors have started venturing into the realm of buying pre-owned properties, undertaking renovations, and then flipping these assets for a profit. INDEX 's data analysis underscores Larnaca's standout position in this market, especially within the residential real estate segment”.

As 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 endeavors. Data and analysis provided by INDEX, uncovers hidden opportunities within the bustling world of real estate, making it an indispensable resource for investors and homebuyers alike.