Those who decide to buy commercial property in Cyprus today have to hope for good luck: there are not so many options left, and the 'leftovers' are not so 'sweet'.
But what will stop entrepreneurs who are determined to establish their business in a country with an ideal investment climate?
To register a company in Cyprus, it is not necessary to buy an office, but you must have some property. Many businessmen solve this issue by renting some place, but this option sometimes seems unacceptable.
Thus, major players in the financial and ΙΤ market began to massively invest in the area of the western part of the coastal zone of Limassol. And the head of the Chamber of Commerce and Industry of Limassol even promised to increase the existing construction limits. The fact is that during the mass relocation of international companies, good class A offices ended extremely quickly.
As for businessmen who are currently looking for ready-made small premises for a coffee shop, shop or warehouse, the forecasts of real estate market experts are much more positive. There are a lot of offers of this format with an area of 40 m2 and above. Many of them are well equipped and have the appropriate business license. At the same time, the average price of a square does not exceed 2,000 euros. In Larnaca, offers of the secondary business class real estate market are available at this price.
Commercial real estate in new buildings in Cyprus costs an average of 1.5 to 3 thousand euros per square meter. But here the office most likely will have to wait a year or more. The advantage of such options is that at the initial stages you can make changes to the architectural plan and save on repairs in the future.
Buying commercial premises in tourist areas is an excellent investment. Already by the middle of construction, the cost rises by 30-40%, and the profit from renting out significantly exceeds the average and reaches 10% per annum. Yes, and resell such a room is easy and simple.
Professional investors who consider Cyprus projects as a source of their main income are willing to invest in the coastal complexes of Limassol and Larnaca. So, in the coastal project 180 ° Limassol Residence today you can buy not only apartments, but also commercial units. Experts predict an increase in the price per square meter from 4 to 9 thousand euros.
The Ion Tower project has appeared in the new Central Business District of Larnaca. This is a 17-story commercial tower with a 24-hour front desk and all the amenities for company employees, from office automation to a gym and cafe on the ground floor. An office in a complex with a total area of 437 m costs a little over 2 million euros. That is, the prices for a separate elite commercial real estate under construction in Larnaca are already comparable to those in Limassol.
And in Paphos, when it comes to modern projects in new buildings, the price of a square is not lower. Located at the entrance to the city, the Aurora commercial building with a total area of 682 m2 with two open-plan offices is estimated at 3 million euros (4545 thousand euros per m2). International creative companies with teams of employees are already heading to the city where Aphrodite herself emerged from the foam and which a couple of years ago was considered exclusively a tourist destination.
In Nicosia, in new projects, prices start from 4,000 euros per m2 and more, but the volume of supply surprises with its variety. Today, you can freely buy an entire floor in a high-rise building under construction for an average of 2 million euros.
Or a store (a total area of 121 m2) in an ultra-modern building from a large and reliable developer. Today it costs 360 thousand euros, but in the future the price will rise significantly. Monthly rent in such projects today reaches 30 euros per square meter.
How to find profitable business opportunities
Buying your own space has a number of advantages: no need to worry about rising rental prices in times of crisis, you can remake the office to your taste, and so on. But such independence can cost a pretty penny if not the most successful option is chosen.
Market experts strongly recommend that you thoroughly study and understand the area in which you are planning to buy. Professionals will help you do it faster. They will talk about new products and current offers on the real estate market, as well as about the features of processing transactions in Cyprus. Large agencies have all the necessary specialists, including brokers, lawyers and translators.
When choosing real estate in Cyprus, it is worth remembering that people rarely look into sleeping areas, but there will always be parking here. Given the extreme heat in summer and rainy winter, parking and easy access to major highways is an important advantage for any business.
In each city of Cyprus, there are some well-known commercial areas, in which it is quite comfortable to do business.
This is Neapolis in Limassol, Drosia and the historical center in Larnaca, in Nicosia - the streets next to the International Business Center. But it becomes clear that very soon the appearance and the very essence of the commercial buildings of the island will change. These will be large multifunctional city centers with climate control and all necessary amenities. If for the last ten years builders have striven for heights, now business complexes will become more gentle, similar to beautiful hills, but no less spacious.
As for logistics, it is worth considering the peculiarities of traffic in Cyprus.
Cargoes are delivered from city to city by car. At the same time, the distances between important settlements are on average 50 km, and the absence of traffic jams and the quality of the roads make these distances almost imperceptible.
Buying an office in Cyprus is an interesting and exciting process. The buildings are so diverse, and the infrastructure around them successfully combines favorable conditions for business and leisure tourists.
Interested in housing in Cyprus? Check the DOMReal Estate website! It has the largest real estate database in the country - more than 30 thousand residential and commercial properties throughout the island! Here you will find information about the latest development projects. Choose and contact professional boxers who will help you make the right choice!
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