Many foreigners are eager to buy a house in Cyprus. For several years, real estate sales in Cyprus have grown by 30%, thanks to the attractive offers for foreign investmentors such as obtaining a residence permit or citizenship. Regardless of the type of transaction, buying a home on the Mediterranean island will be a good investment for both family vacations and rental options.
As in any other country, Cyprus has its characteristics of property acquisition. Pros of purchase:
We will help you deal with all the process of acquiring real estate in Cyprus and buy your dream home.
According to Turkish law, foreigners have the right to buy any type of residential property. These could be:
In Cyprus, all types of residential real estate are highly comfortable.
Also, let us not forget to add that this lovely island gives clean air, sea and a hospitable population, so why don't you get a place where you want to return or live permanently?
The cost of housing depends on many parameters. One of the important ones is the location of the property.
The most popular city for Russians is Limassol, which is located in the south of the island. Here you can live without having to worry about speaking in English or Greek. This is because 15% of the population is Russian-speaking citizens. Real estate in Limassol is 30% more expensive than in other cities. The cost of a one-bedroom house in a 15-20 minute drive from the centre here will be from 130.000 Euro. The difference in price pays off quickly due to the developing infrastructure and owning one of the best beaches on the island. This increases the demand for homes for those planning to rent them out.
Buying real estate is better in the eastern part of the city, which is not far from the coast. In the centre, there are all types of properties available - new buildings or resales, cheap or luxury homes. Everything you might need, such as shops, hospitals, schools and shopping centres, are nearby and you can move around the city with a taxi, public transport or your car.
If real estate in the centre is not affordable, there are cheaper options. Such properties are located in the suburbs (Zakaki, Germasogeia, Ipsonas, Polemidia, Mutayyaka). Here you can buy a house at a price 15-25% lower than in the centre.
The next option is the capital of Cyprus, Nicosia. There are not many tourists, most of the population (mostly businessmen) work and live around the capital. From Nicosia to the sea more than 30 km, but with a 30-minute drive you can visit Mount Pentadactylos, where exciting excursions are done daily.
Real estate in the northern part of the city is 20-30% cheaper.
In the west of the island, you can find Paphos. The prices here are the same as in Limassol, but the atmosphere is calmer and in the suburbs are beautiful beaches. Lovers of antiquity will have something to admire as there are many ancient buildings, temples and churches here. Outside the city, archaeologists are excavating throughout the year in the hope of finding new to discover.
On weekends, people go to the wild Akamas Beach. This is a peninsula near Paphos, where t is considered a national reserve.
Larnaca is the only city with 90% of the population being Cypriots and a small proportion of Britain's. Real estate is inexpensive as it is 10-20% cheaper than in Paphos. If you want to have an active and nice time, we recommend you go to Ayia Napa. Its inhabitants go to bed in the morning, because they spend nights in numerous clubs or bars. In season, the town is crowded with many tourists, and in winter it is quiet and cosy. For these reasons, it is advantageous to buy a house or villa in Larnaca or Ayia Napa. Also, you can rent your housing in the summer and enjoy the beautiful scenery in winter.
Another noteworthy option is Famagusta. The city, like the whole republic, is divided into two parts - southern and northern. A higher standard of living characterizes the first - the corresponding prices for housing, products and services, are more suitable for young people. In the northern part, you can buy a house of any value and obtain a residence permit. Real estate prices here are 30-40% lower than in Southern Cyprus.
In Famagusta, it will be comfortable for Russians professing Islam, since in the city the majority of the population are Turks. It is located in the bay, the coastline is clean and has beautiful views.
Prices on the island's property market depend on the location of the property. In the north of Cyprus, the cost is lower than in the southern part. But we can assure you that it does not affect the level of comfort at home.
In the vicinity of Limassol or Paphos, you can buy an inexpensive small house or bungalow. The cost varies from 95.000 Euros for an area of about 80 square meters to 360.000 euros. Housings under construction are cheaper than the resales and brand new ones.
The cost of the house is from 200 square meters, with 3-4 bedrooms, and a pool is around 350.000 Euros. The upper price is an average of 2.5 million Euros per house near the sea with its pier and a large garden.
The price of a luxury villa starts at 3.5 million and reaches 12 million Euros. These are the masterpieces of modern construction. The houses cover more than 700 square meters.
There are many options for residential real estate in Turkey, and the choice is up to the client. Our company's specialists will help at all stages of the property purchase - from finding suitable options, buying furniture to preparing the necessary documents and after-sales service. If your budget is not enough for your dream home, don't worry, our employees will assist in obtaining a mortgage loan.