What to consider when buying a home in Cyprus

What to consider when buying a home in Cyprus

Having decided to buy a house by the sea in Cyprus, you get both a cozy place to stay and an opportunity to obtain local citizenship. Real estate investment can secure a prosperous future. You can return your investment in 5 years by selling a house in Cyprus. You and your family members can keep citizenship.


Today foreigners can easily buy a house in Cyprus at a bargain price. Such transactions are available to both individuals and legal entities and regulated at the legislative level. Foreign investment in Cyprus real estate and the economy is protected by international agreements protecting the title. To avoid a poor buyer experience, you are recommended to consider all the nuances at the stage of choosing a suitable property.


Buying real estate in Cyprus in detail


You can buy a house in Cyprus on a budget by following a certain algorithm. It includes the following steps.

  1. Choosing a suitable house in Cyprus. 
  2. Drafting a preliminary sales contract. 
  3. Opening a bank account in Cyprus. 
  4. Checking the legality of the selected house. 
  5. Concluding the final sales contract, conducting settlements with the seller. 
  6. Obtaining title to a house in the Republic of Cyprus.


It is better to go on this journey with the assistance of experienced professionals. A developer or realtor will help you understand the intricacies of legislation and specifics of the real estate market in Cyprus, as well as will ensure the financial and legal security of the transaction, even if you are not fluent in English and have no experience in buying housing abroad.


How to buy a house by the sea in Cyprus: specifics of choosing a suitable option


Before you look for real estate, you need to decide on the following important parameters:

  1. Location. 
  2. Infrastructure. 
  3. Maintenance cost. 
  4. Intended use. 


The housing price is based on these parameters. Then you can proceed with listing suitable houses in Cyprus. 


Location and infrastructure


Paphos and Limassol are the most popular cities where you can buy a house at a bargain price. Larnaca, Ayia Napa, and Nicosia are also in demand.

The choice of location for a house in Cyprus depends on personal preferences and plans for the intended use. If you would like to buy housing for a calm family vacation, you should consider Ayia Napa or Paphos. Those who would like to obtain permanent residence should consider real estate in Nicosia offering foreigners private schools and universities, as well as the necessary infrastructure. The tourist flow here is less significant than in the resort areas. If you would like to buy a house in Cyprus on a budget, you should pay attention to the suburbs of Limassol. It is the second biggest city and business center in the Republic. Villas and mansions in Limassol make a good choice if you are looking for housing at the sea.


When choosing a region to buy a house in Cyprus, you should consider not only the recreational load and infrastructure but also the difference in prices. Real estate on the coastline is more expensive, as it has a greater investment attractiveness and reputation. Therefore, it is extremely difficult to buy a house by the sea in Cyprus on a tight budget. 


Maintenance cost


It is important to remember about additional costs upon the transaction when deciding to buy a house in Cyprus on a budget. Real estate requires garbage disposal, technical maintenance, and security. If you do not plan to live permanently in a house in Cyprus, you can delegate all the necessary responsibilities to qualified service providers. The average maintenance cost for a 3-bedroom house with a swimming pool in Cyprus is EUR 2,900 per year.


In addition to security and maintenance costs, you need to remember about paying for electricity. It is expensive in Cyprus. And in the summer, air conditioners in houses consume a lot of electricity when the weather is hot outside. If you do not plan to stay on the island all year round, the maintenance cost will not be significant. In other cases, you need to install solar panels on the house roof. This will help you save a lot of money since Cyprus boasts clear and warm weather for 300 days a year. 


Intended use

To invest profitably in real estate and obtain citizenship of Cyprus, you should choose houses suitable for a comfortable stay with the whole family. It is better to consider large and developing regions to return your investment in 5 years by selling a villa or mansion with additional benefits.


If you buy a house in Cyprus to gain passive income, mansions on the coastline are the best option. These mansions and villas can be rented out to wealthy tourists in the middle of the holiday season.


If you would like to buy a house in Cyprus on a budget for permanent residence, pay attention to its technical condition and heating equipment. Winters are short here but the temperature can drop to +5°C, and it can be soggy and windy outside. Most houses in Cyprus have no central heating to reduce construction costs. Locals prefer to install point systems (convectors or small radiators) but often simply dress warmer for additional savings. To ensure a comfortable stay in a house in Cyprus even in winter, you should buy new buildings. Real estate of the secondary market rarely enables any design improvements, including the installation of heating systems. 


What else to consider when buying a house in Cyprus?


Before you buy a house in Cyprus by the sea or in the business center of a big city, you need to check its legality. To avoid any encumbrances, it is better to seek the assistance of a developer who offers a turnkey construction of new buildings. If you receive an offer to buy a house in Cyprus on a budget, ask how long the owner has been trying to complete this project. Profitable deals are sealed almost instantly. However, if no one is willing to buy a house in Cyprus on a budget within 2 years or more, the reason lies in poor technical condition or legal encumbrances.


When choosing a suitable property, pay attention to whether the villa or mansion of your interest is under the sun. This seemingly insignificant factor can be important for calculation of the maintenance cost. Constant exposure to direct sunlight on the roof greatly increases the need for air conditioning.


If you would like to buy a house in Cyprus at a bargain price, keep in mind some restrictions that apply to foreigners. If you are not an EU resident, you will not be able to buy a land plot with an area of more than 4 hectares. You will need to apply for an additional permit to buy a house in Cyprus with a large adjacent area. A non-EU resident cannot own more than one property. You can get around this restriction by buying houses in Cyprus with their registration for close relatives.


How to buy a house in Cyprus on a budget with benefits?


If you would like to buy real estate in Cyprus, contact the biggest developer in the region, P.L. Property Gallery Developers & Constructors Ltd. Our experts will provide comprehensive assistance and take care of organizational issues. Online property visits are also available. We are also ready to assist you with all the necessary paperwork.

P.L. Property Gallery Developers & Constructors Ltd. offers not only to buy houses in Cyprus at a bargain price but also additional services.


  1. Landscape design. 
  2. Interior design. 
  3. Real estate management. 
  4. Assisting houses and apartments lease and sale. 


Our company has been successfully operating and developing in the local real estate market for more than 18 years. We have already managed to win the trust of hundreds of clients. You can also join the number of happy homeowners in Cyprus if you get the assistance of experts from P.L. Property Gallery Developers & Constructors Ltd.