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22 November 2022

Advantages and disadvantages of buying property in Protaras

Protaras is a quiet and cozy village (part of Paralimni municipality) in the southeast of Cyprus. It is located quite far (by local standards) from cities and has excellent resort characteristics. But is it a good idea to buy property here?

Geography and location of Protaras

In order to understand well what will be discussed, it is necessary to remember that Cyprus is currently divided into two parts (actually four): the Republic of Cyprus, recognized by almost all countries and an EU member state and the Turkish Republic of North Cyprus.

Reference: Only Turkey officially recognizes the Turkish Republic of Northern Cyprus as an independent state.

The Famagusta district is also divided: a smaller part of it is controlled by the Republic of Cyprus, while the city itself and the biggest part of the district is controlled by TRNC. Protaras is in the southern, official, part.

Interesting: the population of Protaras is only 20 thousand people.

Unlike the rest of Cyprus, Protaras and Ayia Napa have calm seas. There are practically no storms in the area, and the sea is the warmest here. Strong winds in the southeastern part of Cyprus are mostly only in spring.

The main advantages of Protaras

Protaras has always been considered mainly as a resort. Locals and foreigners usually chose other areas of the island for permanent life. Real estate in Protaras was acquired mainly in order to spend holidays here or rent it out to tourists.

Today the situation has begun to change. Partly due to the pandemic, partly due to world events. The so-called “digital nomadism”, when freelancers come to another country, also played a role. Protaras has slowly become popular: foreign buyers have finally begun to consider it not only as a vacation spot, but also as an option for settled life.

Conclusion: you can buy property in Protaras both to move in and as an investment in order to have additional income.

Beautiful beaches

Of course, many foreigners dream of living near the sea. Indeed, the sea is both an interesting leisure activity (water sports) and an antidepressant. In addition, life by the sea strengthens the immune system. Therefore, beaches and a good coastline are almost the first requirement of foreigners buying property in Cyprus for permanent residence.

Protaras and its surroundings have a lot of magnificent, clean, calm, sandy beaches. The most popular one is Fig Tree Bay. It is known not only throughout Cyprus, but also beyond. It has the Blue Flag, which emphasizes its convenience, safety and open opportunities for children and people with limited mobility.

Calm and quiet

Protaras is usually contrasted with Ayia Napa: unlike Ayia Napa, there are not so many youth clubs with music until the morning, there is more family atmosphere. Family walks, gatherings in cozy cafes, - all this can be found in Protaras.

It is worth noting that in the off-season (from November) the village is completely quiet. Most of the establishments are closed. This atmosphere is very much appreciated by residents of big cities who are tired of noise. Winter Protaras is ideal for them: it helps to relax and slow down the rhythm of life so that the body is fully restored.

Comfortable for families with children

Cyprus is generally considered a safe country for kids and Protaras is one of the quietest parts of the island. If in large cities (Limassol, Nicosia, Larnaca, Paphos) some unpleasant events periodically flash in the news report (crime, emergency), then in Protaras any incident is something out of the ordinary.

In addition, the infrastructure of Protaras was created for families with children. In the Famagusta district, there are many children's entertainments: water parks, an amusement park in Ayia Napa, family cafes, parties on the beach, playgrounds, convenient places for walking and much more.

Proximity to major and busy cities

Ayia Napa is a larger village, it is only 10 km from Protaras. The journey without traffic jams takes about 7-10 minutes. By the way, there are few traffic jams here, and in the off-season there are none at all.

Larnaca (and airport) is 67 km away, Nicosia is 79 km away. By the standards of locals, it's a huge distance. People who came from Europe, of course, do not think so.

Picturesque surroundings

Cape Greco is located 7 km from Protaras. This is a very unusual place in terms of landscape and general appearance, which is the most popular location for a variety of photo shoots. Walking here is a pleasure!

Protaras and Ayia Napa are also famous for their medieval monasteries and churches.

Low housing prices in Protaras

Compared to other areas of Cyprus and even Ayia Napa, Protaras noticeably wins in terms of cost per square meter. In addition, while the slowest growth in housing prices is observed here. But, most likely, this will not always be the same.

Good prospects in the price of real estate

The district of ​​Famagusta began to actively develop in terms of development. Judging by what is currently happening in the real estate market of Ayia Napa and Paralimni, a construction boom is coming. It can even be assumed that multi-storey buildings or skyscrapers will appear here!

By the way, two large-scale projects are under construction: Ayia Napa Marina and Paralimni Marina. These are large luxury resorts that will give the area not only elite housing, but also European entertainment infrastructure.

Therefore, all real estate that will be next to these giants will definitely rise in price. It can also be expected that the two marina resorts are not the last projects of this magnitude in the Famagusta district

Properties available for purchase in Ayia Napa Marina

Properties available for purchase in Paralimni Marina

Opportunity for small and medium business development

Some business sectors in Protaras are not developed. Even individual tourist nuances have not yet been worked out or have no competition.

Based on the previous points, we should expect an influx of foreigners who will live in Protaras. Thus, they will need more goods and services. And here is a room for those who want to do business.

The property is excellent for rent in the summer season

There is still an up-to-date and perfectly working option: to spend the winter with the family in Cyprus, and in the summer to rent out the property to vacationers. This is a very profitable scheme, since the demand for housing during the season from May to November is very high. The peak is during the summer months.

Opportunity to obtain permanent residence in Cyprus

Of course, this plus does not apply only to Protaras: permanent residence can be obtained by purchasing real estate anywhere in Cyprus. The main thing is to invest at least 300,000 euros. In this case, the entire family of the buyer receives permanent residence, including the spouse, children under 25 and parents of both spouses.

Disadvantages of buying property in Protaras

Of course, Protaras is not for everyone. This is due both to its features and to the personal preferences of individuals.

Not too developed infrastructure

In the Famagusta district, everything is “sharpened” for the tourism industry. Therefore, there are quite good roads, public transport, many restaurants and cafes, and supermarkets.

But what is required for permanent life may not be enough. There is not a very wide choice of kindergartens and schools, few private hospitals, beauty salons, bank branches. There are practically no offices of state institutions: to resolve any issues, you need to go to Nicosia.

Few cultural activities

For those who moved to Cyprus from a noisy metropolis, at first it is difficult to get used to a more calm and measured rhythm. What can we say about Protaras, which is... a village.

There is really little cultural and sports entertainment. Public events are extremely rare, there are no theaters, a cinema is only in the summer and only in the open air, there are very few places for sports. Therefore, those who are used to living in the social, social and cultural flow will be quite bored in Protaras.

Mostly private development

Protaras are mostly private houses. Apartments can be found, but they are few. Therefore, those who want to buy exactly an apartment will have to choose from a small number of options.

Hint: use the link to see all offers for sale of apartments in Protaras.

Crowded beaches during the season

Of course, great beaches are great. But in summer it is quite difficult to get to large and famous beaches, you have to get up early in the morning to visit a coast without crowds. Those who do not like large crowds of people will feel uncomfortable here in summer.

Fortunately, this problem is fairly easy to solve. You can go to a little more remote and even "wild" beaches. There is always enough space, quiet and quite calm.

Interesting to read: 10 reasons to invest in Protaras real estate.

Interested in housing in Protaras? Contact the specialists of the No. 1 real estate agency in Cyprus DOM by phone +357 23 010 149, or come to the office at: Protaras Avenue 243, Paralimni 5290, Famagusta, Cyprus.

Read also:

  1. The best residential family gated complexes in Limassol
  2. GESY General Health Care System in Cyprus
  3. Villa or apartment: what to choose for living in Paphos?
  4. 10 Reasons to Invest in Protaras Property
  5. How profitable to rent an office in Cyprus?
  6. School close to home: options for buying property near the most popular educational institutions in Cyprus
Source: DOM
Photos: DOM, unsplash, PxHere
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