“We predict that real estate prices in the area will rise by double digits in the coming years,” Bell Real Estate Group claimed yesterday (Sunday) at the launch event of its flagship project in Larnaca, Cyprus.
The elegant complex, spread over approximately 4 hectares, includes 7 architecturally designed buildings with 304 low-rise housing units, three pools, ornamental waterfalls, a sunbathing deck, a well-kept green park, a playground, a modern wellness complex with a fully equipped gym, a cafe, a restaurant, and a business complex with co-working spaces.
The numbers speak for themselves: in the Q4 summary of 2023, the average price of an apartment in Cyprus increased by an annual rate of 12.7%. Real estate asset prices, including private houses and apartments, rose across all districts in Cyprus. Nicosia recorded an increase of 5.1%, Paphos saw an 8.3% rise, Famagusta experienced a 9.5% increase, Limassol noted a 10.7% rise, and Larnaca led with an 11% increase.
