Cyprus is one of the most popular places where foreigners are actively buying real estate. They do this not only for investment and rent: having lived on the island for seven years, you can obtain citizenship by naturalization. For these reasons, Cyprus property is in high demand.
Investments in real estate usually easily pay off. First of all, apartments located in relatively recently built housing complexes. They are usually in a gated area, where there may be a pool, gyms, parking lots, sometimes shops, and so on. Apartments in new buildings are often considered luxury real estate.
As for townhouses and villas, the demand for them is also stable. Most often they are bought by wealthy Europeans who want to move to live on a warm island after retirement, so it will not be difficult to resell or rent out such real estate with a profit. The cost of a townhouse starts from about 300,000-400,000 euros, the most expensive of which are located in the most popular cities of the island - Limassol, Paphos, Larnaca.
The official part of Cyprus has a large number of restaurants, bars, hotels, shops and other facilities that are attractive to investors. The tourist flow to the island is growing every year, so such establishments will be in demand. By renting them out, you can return the initial investment relatively quickly. But it is not recommended to build buildings from scratch: this method of investment is risky, and local legislation is quite complex and demanding.
In general, the real estate that is most in demand will pay off soon: located in new buildings as close as possible to the coastal strip, in areas with developed transport and social infrastructure.
Well, you can buy or rent an apartment in Limassol and other cities of the official part of Cyprus by contacting our agency.
