The mixed community of Pyla iσ experiencing unprecedented growth due to surging property demand despite its unique administrative status.
Community Council President Simos Mytides told Phileleftheros that “Pyla currently has one of the highest development rates across Cyprus”. He revealed that more than 1,000 residential units are under construction, with permits pending for an equal number.
The largest development underway is a €30 million complex comprising approximately 300 residential units and retail spaces. Throughout the community, in areas controlled by the Republic of Cyprus, numerous apartment buildings and large houses are being constructed.
“Property demand has soared in recent years, with residential units in Pyla nearly doubling. The permanent population has now reached about 8,000,” said Mytides. He noted that land purchases for residential development are primarily driven by Greek Cypriots, partly due to government subsidies for revitalising border and mountain areas.
Beyond local buyers, significant interest comes from Israeli, Lebanese, Ukrainian and Russian investors. However, Mytides indicated that development could progress even faster if the District Administration Organisation streamlined its procedures.
Despite the area’s growth, prime beachfront plots remain undeveloped, including the former Beau Rivage hotel site. Plans announced for 2023 to construct two hotels – one four-star and one five-star – with a combined capacity of 330 beds have yet to materialise, with no clear timeline for development.
The delay affects Larnaca’s tourism sector, as the project was expected to enhance the area near the former refineries, where major investments are planned.
