European countries attract investors willing to invest in the most reliable and stable asset ― real estate. And the Republic of Cyprus is the undisputed leader among other countries. It has a good geographical location, mild climate, developed infrastructure, low crime rate and all the necessary conditions for a comfortable living, including loyal tax legislation. The local government actively attracts foreign investment in the local economy initiating a program to obtain citizenship in 6 months. You simply need to buy real estate in Cyprus worth EUR 500,000 and invest at least EUR 2,000,000 in housing, securities, or opening a business. Wealthy investors are more willing to purchase apartments and houses. This type of asset helps to obtain both the so-called Golden Passport (Cyprus has suspended its citizenship-by-investment program, in its current form, effective from 1 November 2020) and additional income from lease and subsequent resale.
What Cyprus real estate is up for sale?
If you dream of EU citizenship and your paradise on the Mediterranean coast, it is not enough to buy real estate in Cyprus. You will have to face a lot of organizational issues, including the choice of a suitable option.
Cyprus real estate offers a wide variety of types, which can be confusing. Therefore, intending to buy real estate in Cyprus, it is important to understand how the available types of housing differ from each other.
This is probably the most popular type of real estate in Cyprus available in any region of the country. This is comfortable real estate of different area, counted by the number of bedrooms. The most affordable real estate in Cyprus is the studio apartments consisting of a bathroom, a recessed balcony and a room that combines the functionality of a living room and a kitchen. It is suitable as a temporary solution. You should consider one-, two- or three-bedroom apartments for permanent residence. The living area varies from 60 to 110 sq.m. They include a living room, bathroom, recessed balcony, kitchen and dining room. You can buy such real estate both in an urban district with a high level of business activity and in a cozy coastal area with a quiet neighborhood.
This type of real estate in Cyprus is categorized as luxury housing. Wealthy investors choose it when looking for opportunities to obtain citizenship by investment. Such real estate in Cyprus is located mainly in prestigious areas with comfortable infrastructure. Penthouses differ from apartments in that they are necessarily located on the top floor of a luxury house, have a beautiful panoramic view, private terrace, roof access, and unique interior design using expensive materials.
If you are looking for Cyprus real estate to buy not only for citizenship but also for comfortable family holidays, it is better to consider small houses for two families. They are called maisonettes. You do not need as much money as to buy a villa, but this option involves more privacy and freedom than apartments in an apartment building. Maisonettes have a land plot, swimming pool or terrace, two separate entrances, different number of bedrooms, living room, bathroom, as well as other rooms. The annual maintenance of such real estate in Cyprus is somewhat more expensive than the maintenance of an apartment. However, this does not deter investors willing to visit the Republic and enjoy a comfy vacation.
This type of real estate in Cyprus includes residential complexes designed for 3-4 families. Townhouses have a land plot and parking.
And they still remain one of the most popular real estate types in Cyprus. Many investors choose to buy a villa willing to demonstrate their social importance and impeccable taste. This luxury real estate in Cyprus implies a detached house with an enlarged territory of up to 30 acres. It has enough space for an orchard, swimming pool, terrace, and private parking. Villas are built and designed from the best materials, such as natural stone, fine wood and marble. Maintenance will cost about EUR 2,000 a year. Villas can be separate or part of gated residential complexes.
Popular locations for buying real estate in Cyprus
Limassol is considered the most promising region where investors seek to buy real estate. This is the southernmost resort city in Cyprus offering the best opportunities for a comfortable stay, life and work.
If you need to buy affordable real estate in Cyprus, it is better to consider Larnaca or Paphos. And Ayia Napa is considered the best region for lovers of vibrant social life.
How to buy real estate in the Republic of Cyprus with maximum benefit?
If you would like to get maximum benefits from buying a house or apartment in the Republic, you should pay special attention to the choice of the proper solution. To buy real estate in Cyprus with benefits, you need to consider not only the type of housing but also other numerous factors.
- Maintenance cost.
- Recreational load.
- Distance from the beach.
- Technical condition.
- Developed infrastructure.
These conditions largely determine the price of real estate in Cyprus. The closer the sea, the higher the price. And the maintenance becomes more difficult. However, it is real estate in popular tourist areas that will provide the greatest benefits in the future. If you prefer real estate with the best technical condition, it is better to buy housing from construction companies. Real estate in Cyprus on the secondary market lacks modern equipment but may have legal encumbrances associated with the previous owner.
P.L. Property Gallery Developers & Constructors Ltd. is your reliable partner in the Cyprus real estate market.
It has 19+ years of successful experience in the market and is considered the biggest construction company in Cyprus. The team of experts will help you buy real estate in line with your preferences providing a whole range of related services.
- assistance in preparing documents;
- sale of houses and apartments in Cyprus;
- real estate lease and management;
- interior and landscape design.
Real estate from P.L. Property Gallery Developers & Constructors Ltd. is located in the best regions of the Republic and has numerous professional awards for the combination of practicality, safety and unique style.