Cyprus is a stunning island with amazing nature and ancient history. For many years, the country has been popular not only for recreation and permanent residence, but also for real estate investment.
All thanks to the attractive policy of the government, which offers both tax incentives and special investment programs.
Just imagine – you can buy a cheap house in Cyprus on the very beach and get a lot of opportunities: from a stable rental income to a second citizenship that gives you access to the EU.
There are several reasons why you should buy a cottage in Cyprus. Real estate on this island with clean beaches and warm sea is ideal not only for beach holidays and excursions to the sights of different times. The positive aspects of such investments are much more.
Obtaining a residence permit and permanent residence in a country that is part of the European Union
Receiving income from short-term or long-term rental. The average yield today is 5-8% per annum. But you need to take into account that you will have to purchase 2 objects, since one housing will be considered a place of permanent residence
The passport of a member state of the European Union facilitates travel to almost 100 countries. The island itself has a low crime rate.
It is safe here at any time of the day. The Cypriots themselves are very friendly and open, many live with their doors open, and they also speak Russian. Therefore, in Cyprus, you will find a serene environment that encourages you to relax.
When buying a house, the area and its infrastructure, distance from the sea, and transport links are important.
No less important are the features of the real estate itself. Most people choose to buy a house with a swimming pool in Cyprus. Especially attractive are the penthouses with a rooftop pool and panoramic sea views. The demand for such houses with excellent view characteristics and privacy has grown very much in the last year.
The requests of Russian buyers often include an orchard and proximity to a good private school. No less popular are "smart homes" with energy-saving class A+ and A++, as well as housing and secluded estates in elite gated complexes. Of particular interest are the houses on the hill, which offers a beautiful view of the coast.
Utility bills. It is necessary to pay for electricity-200-450 euros, water supply-0.9-5 euros per 1 m3, drainage-0.56 euros per 1 m3, heating-120-150 euros per month (for cold houses). If you want to use gas, you need to buy cylinders – about 15 euros for a couple of months.
Home maintenance. You can take care of the territory yourself: clean the pool, take care of the garden, etc. The services of specially trained people cost 100-200 euros per month. When renting out, you should take into account the need for periodic repairs – about 300-500 euros.
Tax on purchases and on ownership. When purchasing a house, you must pay 5% VAT on the cost of the first 200 m2 and 19% - on the remaining amount. The IPT (Immutable Property Tax) was abolished in 2017, so today it is not charged. The remaining LPT (Local Property tax) is a municipal tax, justified by the payment of garbage collection (50-300 euros per year).
The most popular areas where it is best to buy a luxury villa by the sea in Cyprus, consider Limassol and Paphos. Here is about 70% of the sold housing. It is more luxury housing in Paphos than in Limassol.
No less popular is the area of Larnaca, where real estate is 30-40% cheaper – the price of a premium villa will be comparable to the purchase of luxury apartments in Limassol or Paphos. In Larnaca, houses are more often bought in Livadia and the tourist area of Pila.
In Limassol, among foreigners, Mutayaka, Potamos Germasoyia, Agios Tychonas are especially popular. The most elite is the district of Columbia in Potamos Germasoyia: it is located 700 m from the sea, within walking distance from the central streets of Kollonakiu, where shopping centers and supermarkets, pharmacies, schools, cafes and restaurants are gathered.
In Paphos, you should pay attention to the prestigious areas of Sea Caves, Coral Bay, the villages of Tsada and Tala. Almost every villa here offers stunning sea views, while other cottages overlook the Akamas Nature Reserve and Coral Bay.
To say exactly how much a house in Cyprus costs and what its price is, you can only take into account several factors:
The price depends directly on the area where you decided to buy a house.
The average cost of houses per 1 m2 varies between 1200-1700 euros. The closer the distance to the sea, the higher the final price.
Real estate in Limassol is among the most expensive. The price starts from 1250 euros / m2: a house of 100 m2 with 2 bedrooms and a fireplace will cost 125 thousand euros, but the housing will be located outside the city. The price of new villas can reach 6400 euros / m2. A cottage with an area of 2500 m2 costs 16 million euros.
Houses in Paphos are cheaper, their cost starts from 800-1000 euros/m2. A small house of 70 m2 in one of the villages costs 54 thousand euros (in developed localities housing is more expensive), and a spacious villa of 428 m2 in the Coral Bay area near Coral Bay – 17.9 million euros. If you calculate how much a house in Cyprus costs in rubles, you can say that the price varies from 5 million to 1.5 billion rubles.
In the area of Larnaca, you can buy a house at the same price as in Limassol, but already within the city and with a larger area.
The most affordable housing is located here, but it brings income from renting only during the swimming season. The price for 1 m2 starts from 900 euros. The house with an area of 160 m2 and 3 bedrooms costs 147 thousand euros.
If we consider luxury villas in Larnaca, the cost reaches 3.7 million euros (with an area of 478 m2 and a plot of 900 m2).
Buying a villa in Cyprus from the secondary market at a price is more profitable, only until it comes to repairs, which is almost always required.
Our portal presents the best offers for the sale of houses in Cyprus by the sea with photos and prices.
Due to the regular updating of the database-every 12 hours, buyers and tenants can always get acquainted with the latest ads.
Each of the ads is checked, so you can be sure that all the objects are real, and the prices are valid and without hidden fees.
We work in South Cyprus, offering homes in Limassol, Paphos and Larnaca – the most popular areas of the island.
Want to buy a property? Contact the Dom Real Estate agency. Specialists will easily pick up the house and help with the conclusion of the transaction, providing support until the end of the entire purchase process!