What real estate costs will have to face in Cyprus

What are the costs of maintaining the property in Cyprus

Cyprus is a state that is trying to attract as many investors as possible. The desire is so strong that for capital investments you can even get citizenship of this hospitable and warm country. Moreover, you can invest not only in business but also in real estate.

Categories and size of property expenses in Cyprus

You can buy both residential and non-residential real estate in Cyprus, the prices are attractive. So, a house in Limassol can cost less than 300,000 euros. But to obtain a Cyprus passport, the value of the property must be at least 2,000,000 euros. If you buy objects for doing business, then, in addition, you must also buy a living space for at least 500,000 euros.

The owner of a house or apartment in Cyprus must additionally bear the following costs:

- Annual property tax. Charged by local authorities. The rate depends on the cadastral value and the prestige of the location.

- Contributions for the maintenance of infrastructure. Relevant only for residential buildings, which are adjacent, for example, a garden or utility buildings.

- Payment for electricity. Paid twice a month, and its final cost consists of two components: a fixed rate and the amount for the actually used resource.

- The cost of water supply. Consists of a fixed rate, consumption fees, and meter fees. Water disposal (sewage) services are also compensated separately.

- Payment of gas supply. It's not available everywhere, most often the owners have to independently provide their premises with gas balloons. The cost of one balloon is about 15 euros. And this is enough for a month or two, depending on the intensity of use.

When buying a property in Cyprus, you need to know all the advantages and disadvantages. At the first stage, you can use the service to rent the apartments in Limassol, which is located on the seashore. This will allow you to evaluate all the benefits of living on the "island of Aphrodite."

Компания «Dom Real Estate» Контакты:
Адрес: Limassol, Cyprus,
Телефон:+357 25 212 212, Электронная почта: info@dom.com.cy