Yes, according to a study issued by PWC in early 2024, Larnaca ranks second in the percentage of real estate ownership transactions for foreigners in Cyprus at 21%, due to the following reasons according to a study issued by KPMG: Larnaca is located in an economically stable country. GDP growth is higher than the Eurozone average. The unemployment rate is lower than the Eurozone average. The real estate sector has a positive impact on the economy of Cyprus. Residential property prices are rising according to the RICS index. Rising rental prices.