Today, Protaras is a well-known resort in Cyprus and an attractive place to buy property. Its combination of picturesque nature, developing infrastructure, and growing demand makes it an ideal choice for those looking for a vacation home, a permanent residence, or a reliable investment.

Top reasons to choose Protaras:

Protaras is not a metropolis or a business center, but rather a small resort town with a distinct seasonal rhythm of life. That is its strength! It's ideal for those seeking tranquility, proximity to the sea, a safe atmosphere, and affordable real estate by Cypriot standards.

More and more foreigners are considering Protaras not only as a vacation spot but also as a place to spend the winter or work remotely. Thanks to its growing permanent and temporary population, Protaras is developing. New residential projects are appearing, the promenade is expanding, and the beginnings of a mini-metropolis are taking shape.

This place is no longer exclusively a summer destination, especially for Russian-speaking expats. All of this makes Protaras an interesting destination for those considering purchasing Cypriot real estate.

Climate and nature

Protaras is located in the southeastern part of Cyprus, the warmest and sunniest region of the island. It has over 300 clear days a year, mild winters, and hot but comfortable summers, thanks to a light sea breeze. Rain is rare, mainly occurring in winter, making the climate ideal for living by the sea, especially in the off-season.

The Mediterranean is known for its snowless winters. However, from December to February, the Troodos Mountains are covered in snow, offering a chance to enjoy a winter wonderland.

The Protaras area's nature is delightful, with colorful scenery. One of the region's main natural symbols is Cape Greco. This protected natural area has hiking and biking trails, picturesque views, sea caves, and cliffs. From the top of the cape, you can enjoy stunning panoramic views of the sea and the coast.

When it comes to beaches, Protaras is considered one of the best resorts in Cyprus, thanks to its beautiful coastline. Several famous beaches here receive Blue Flags every year for cleanliness and safety.

Fig Tree Bay, with its soft sand and gentle slope into the water, is Protaras's calling card and is ideal for families with children.

Kapparis is a less crowded beach closer to the border with Paralimni. Its peaceful atmosphere and pleasant amenities attract those who value seclusion.

Konnos Bay, located between Protaras and Ayia Napa, is surrounded by cliffs and greenery. It is one of the most picturesque beaches in Cyprus, with azure waters and equipment rentals for water sports.

These beaches create an atmosphere that inspires many people to consider buying property in Protaras. Additionally, the water here is the calmest, with almost no storms and a less rocky seabed compared to other locations in Cyprus.

The developed tourist infrastructure

Protaras' infrastructure is geared primarily towards vacationers, and it does an excellent job of this. There are no noisy highways or business centers, but everything necessary for a comfortable stay is available: well-maintained beaches, a seaside promenade, restaurants, bars, souvenir shops, pharmacies, and supermarkets. The resort operates on a seasonal schedule — everything is in full swing from April to November, and the pace slows down considerably in the winter months.

Despite its compact size, Protaras offers a variety of entertainment, from water sports to visits to holy sites. Family vacations are Protaras's specialty, and people come here with children or elderly relatives. This is in contrast to Ayia Napa, where bars and clubs stay open all night during the season.

There are many interesting places to walk and explore in the Protaras area. Here are the most famous ones:

St. Elias Church, which sits atop a hill and offers panoramic views of the entire coast;
Cape Kavo Greko is a protected area with hiking trails and sea caves.
The Dancing Fountain Show in the center of Protaras offers evening entertainment with music and lights.
The Oceanarium is a small but interesting place for families.

Nearby, in Ayia Napa and Paralimni, large tourist projects are under construction: the Ayia Napa Marina and the Paralimni Marina. These new resort areas promise to attract more attention to the region with their first-class European infrastructure, which will also increase property values in the surrounding areas, including Protaras.

The area is quiet and safe.

One of the main reasons why families choose to live in Protaras is its tranquility. Unlike bustling Ayia Napa, where life vibrates until the early morning hours, Protaras offers a relaxed pace with cozy evenings by the sea, quiet streets, and leisurely walks without crowds. This is especially noticeable in the off-season when almost no tourists are around and the locals can enjoy the peace, quiet, and nature. This lifestyle is ideal for those tired of the hustle and bustle of big cities or looking to recharge.

Additionally, Protaras is considered one of the safest places to live in Cyprus. There is virtually no crime, and the atmosphere is peaceful and relaxed. This is especially important for families with children and older people who want comfortable, stable living conditions.

Protaras is popular with tourists and expats.

Protaras is definitely one of the most visited resorts in Cyprus. In the summer, thousands of tourists come from the UK, Germany, Scandinavia, and Eastern Europe. The reasons are obvious: a clean sea, a comfortable climate, affordable prices, and a laid-back atmosphere. For vacationers, Protaras is an excellent alternative to noisy resorts. For property owners, it offers stable demand for rentals.

Interest in Protaras is growing every year among foreigners who want to live here, not just vacation. This is especially true for freelancers, families with children, and retirees. Many buy homes to spend the winter by the sea and then rent them out during the “hot” season. This makes Protaras attractive for those looking for a quiet, warm, inexpensive place to spend the winter or relocate.

Real estate prices are low with growth potential.

One significant advantage of Protaras is its relatively affordable housing prices. Compared to Paphos, Limassol, or Larnaca, the cost per square meter is significantly lower here. This is especially true for properties not located on the first line. However, modern apartments near the beach can be found at reasonable prices for a resort in the EU.

Additionally, Protaras is one of the few resorts where there is still a selection of affordable housing. This is particularly relevant for those who want to invest in real estate for vacation, rental, or permanent residence without overpaying for "trendy" locations. There are still good options here, especially in the Kapparis area or on the border with Paralimni.

At the same time, prices in Protaras have the potential to increase. The area is gradually developing; premium resort complexes are being built nearby, and interest from investors and foreigners is growing. Once more modern buildings appear in the region and the infrastructure catches up with neighboring cities, price dynamics may become significantly more active. This makes buying real estate in Protaras a profitable long-term investment.

Types of Real Estate in Protaras

The type of real estate you choose is the first step. Each option has its own advantages and disadvantages, so if you are planning to rent out the property, it is worth consulting with a specialist about its profitability.

Apartments in new buildings

There are not many apartments in Protaras; most of the development consists of private houses and villas.

However, modern residential apartment complexes have recently begun appearing, most often in the form of gated communities. These small, two- to three-story buildings have shared facilities, such as swimming pools, green areas, parking, and security.

Here are some good examples of new apartment developments in Protaras:

Blu Horizon: A new complex in the heart of town with a swimming pool and sea views from all apartments.
Coralli Spa Residences is a hotel complex with convenient services and its own spa right on the seafront.
Sabai is an elite complex with all the amenities necessary for a permanent residence or a resort lifestyle.

The main advantages of such complexes are comfort, high-quality construction, and being ready for occupancy without requiring additional investment. These apartments are ideal for those looking to buy a vacation home, rent it out, or obtain permanent residency. This is one of the most convenient options for those looking for turnkey housing who don't want to deal with maintaining a private home.

Townhouses and Maisonettes

Townhouses and maisonettes are a popular type of housing in Cyprus, especially among families and those planning to stay long-term. A townhouse is a terraced house with a separate entrance and a small plot of land, typically part of a residential complex. A maisonette is a two-story apartment with an internal staircase. It is not to be confused with a duplex. Maisonettes usually have a separate entrance to the street but do not include land ownership. Complexes with townhouses and maisonettes include:

Kyklades Complex in Kapparis, within walking distance of the beach;
Blue View Lifestyle complex, which has excellent sea views; and the
ISLAND DREAM complex, which has luxury townhouses.

These properties offer the benefits of both a house and an apartment, including more space, a private terrace or balcony, and sometimes sea views or access to a shared pool. At the same time, property maintenance is often simplified thanks to a management company. This is a convenient option for permanent residence or rental; tourists love the "home away from home" concept with resort amenities.

Villas and cottages

Villas and cottages are the most common type of real estate in Protaras. There are many detached houses with their own plots, as well as modern villas in secure residential complexes. Foreign buyers increasingly prefer gated cottage communities because they offer privacy, a high level of security, well-maintained common areas, and full services, including cleaning and rental management. Here are a few options to consider:

Chloe Downtown, which has three-bedroom villas, a swimming pool, and a large recreation area on each plot;
Imperial Jade, which has luxury villas in a modern style with premium finishes;
L'Orizzonte, which has luxury villas with three and four bedrooms, rooftop terraces with views, and a swimming pool;
Milos Lifestyle, which has spacious villas near Cape Kavo Greko.

Living in a villa offers maximum freedom and privacy with spacious layouts, a private pool, a barbecue area, a garden, and a terrace — all of which are ideal for long-term living with the whole family. At the same time, villas in Protaras are easy to rent out during the high season and generate a stable income. Well-renovated houses located close to the beach are particularly in demand — such properties rarely remain vacant, even in the off-season.

Commercial real estate

Commercial real estate in Protaras includes more than just shops and cafés on the beachfront. Retail space regularly comes up for sale in tourist areas with high foot traffic from May to October. You can purchase ready-made business premises or invest in a small complex and rent it out in parts. Entire apartment buildings are also being bought up for conversion into aparthotels or for independent daily rental management. Old buildings in the center of Protaras are of particular interest. They can be purchased, renovated, and converted into boutique hotels or concept accommodations with a historical atmosphere. Large investors may be interested in existing hotels, including small, family-run establishments and larger properties. While this format requires substantial investment, it can generate stable profits during the season and establish a foundation for a long-term project in the tourism sector.

Legal and financial aspects

The legal and financial aspects of buying real estate in Cyprus are relatively transparent and accessible to foreigners, but it is important to understand the local rules and procedures. It is important to understand the legal status of the property, the differences between new builds and the secondary market, the specifics of the transaction, mortgage options, and additional costs. Under certain conditions, buying real estate may also entitle you to permanent residence (PTR) through a simplified program.

Should you buy a new build or resale property?

In Protaras, you can find both new builds and resale properties ranging from old apartments to historic houses. However, foreign buyers often prefer new properties. There are several practical reasons for this preference:

New properties are usually modern, fully finished, and ready to move in.
Second-hand properties may require renovation.
When buying at the construction stage, it is possible to arrange installment payments with the developer or more flexible payment terms.
Banks are more willing to grant mortgages to foreigners for new properties and only for projects with a proven reputation.
If the property costs €300,000 or more and meets the program requirements, the buyer can apply for permanent residence in Cyprus.
It is usually easier and faster to register ownership (title deed)for primary real estate in Cyprus if the project is properly registered and has not had previous owners.

At the same time, secondary housing may be cheaper and better located, but it will almost always require additional costs for repairs, legal checks, and paperwork.

Convenience of new construction

New construction is a more convenient and safer choice for foreigners. The stages of the transaction and the necessary documents are as follows:

Buying real estate in Cyprus involves several mandatory steps for foreigners. Here is what a standard transaction looks like:

Select a property and verify its legality. A lawyer checks for any debts, liens, title disputes, or other risks associated with the property. The terms of the future contract are also assessed at this stage. Obtaining a purchase permit. Citizens of non-EU countries must obtain approval from the Council of Ministers of Cyprus. The application is submitted through a lawyer, along with copies of the passport, purchase agreement, and other basic information.
While the permit is being considered, which can take several months, the transaction can be formalized, but without the right to final registration. A preliminary agreement is signed.
The Reservation Agreement records the intentions of the parties and reserves the property for the buyer. A deposit of 1-5% of the purchase price is usually paid.
The main purchase agreement is then concluded. This document details all the terms of the transaction, including payment terms, the parties' obligations, and the property's technical characteristics. The agreement is then registered in the Land Registry.
After signing, the contract is registered in the cadastre, which protects the buyer and prevents double sales.
Final payment and registration of ownership follow.
Once the full amount has been paid, the process of transferring the title or registering the right of ownership begins, if the title is not yet ready. An application for permanent residence is submitted (if applicable).

If the purchase meets the program requirements, you can apply for permanent residence through an expedited procedure. Before choosing a property, it is useful to first find a competent lawyer who works with foreign buyers. A specialist will check the documents and title and warn you about dubious developers, risks, and legal restrictions that someone without experience would be unlikely to recognize.

Tip: Even if the property seems ideal, do not rush to make a deposit. Always obtain a legal opinion first, as the property may have debts or restrictions imposed on it, or it may have no title at all. Otherwise, it will be difficult to get your money back.

Real Estate Prices

Real estate prices in Protaras remain among the most affordable of all of Cyprus's coastal resorts. The average price per square meter for new construction is around €2,000; however, the exact price varies depending on the property's type, condition, and location. The most affordable options are secondhand apartments in areas such as Kapparis. These properties can cost as little as €100,000. New, two-bedroom apartments with access to a shared pool in a residential complex cost around €250,000–300,000. Detached houses and villas with private pools start at €400,000, especially if they are located near the beach or in a tourist area. Prices in gated communities are usually higher due to additional amenities and security. Commercial real estate and investment properties (such as apartment buildings or small hotels) vary widely in price, from several hundred thousand to millions of euros. The most expensive properties in Protaras are beachfront hotel complexes.

Mortgage for foreigners

Despite rising interest rates, mortgage lending in Cyprus remains accessible to foreign citizens. In 2024, the average rate is around 4.5–5%, whereas previously it did not exceed 2.5%. This has led to a partial decline in lending, but banks continue to work with non-residents. Lending conditions depend on the borrower's citizenship, the size of the down payment, and the total amount of the transaction.

To obtain a mortgage, a foreign buyer must meet several standard requirements:
an initial deposit of at least 50% of the property's value, a loan rate ranging from 5.5% to 8% per annum,
a loan term ranging from 5 to 40 years (with an age restriction of no more than 65–70 years old at the time payments are completed), and
the submission of mandatory documents such as a passport, proof of income, bank statements, credit history, a contract with the seller, and an appraiser's report.

Banks may offer a fixed rate for three to ten years or a floating rate linked to the ECB or EURIBOR rate. In both cases, life insurance for the borrower is mandatory, allowing the bank to compensate for the debt in case of unforeseen circumstances.

Simplified Permanent Residence Permit for Real Estate Buyers

Cyprus has a fast-track program for permanent residence for foreign citizens investing in real estate. To qualify, you must purchase one or two new properties worth at least €300,000, excluding VAT. The transaction must be completed through one or more developers, and the purchase funds must come from abroad. This is the most popular way for non-residents to obtain permanent residence, especially among those who plan to live on the island or rent out their property.Several mandatory conditions must be met to participate in the program:

Deposit at least €300,000 before submitting the application. The remaining amount can be paid in installments or through a mortgage.
Place a minimum of €50,000 on deposit in a Cypriot bank.
Confirm a stable annual income - €50,000 for the main applicant, €15,000 for the spouse, and €10,000 for each dependent under 25;
provide a certificate of no criminal record and documents confirming the legal origin of the funds; and apply only for immediate family members, including a spouse, minor children, or students under 25 who are financially dependent on their parents.Additional fees include a state fee of €500 per application and a fee of €70 for each family member, as well as the costs of apostille, translation, and notarization.

Permanent residence is granted indefinitely.

Important: As of 2023, the program no longer applies to the applicant's parents.

Potential Rental Income

Renting out real estate is one of the most reliable ways to generate income in Protaras. The resort status and high seasonal demand make renting particularly profitable between May and October. During this period, properties located closer to the sea are almost always occupied, especially if they are well-furnished, well-photographed, and advertised on international platforms. Rental rates vary depending on the location, type of accommodation, and level of comfort. During the season, one-bedroom apartments rent for €70 to €120 per day and villas rent for €300 to €500 or more. With an effective marketing strategy, average occupancy can reach 80–90% during the summer. However, it's important to note that demand drops significantly in the off-season, so properties may remain vacant unless they're rented out long-term at a reduced price.To ensure a stable rental income, consider the following factors:

Location: Properties closer to the sea and tourist infrastructure tend to have higher demand and prices.
Availability of a license for short-term rentals: Cyprus has required official registration of such properties since 2020.
Level of amenities: Air conditioning, a kitchen, quality furniture, and fast internet all affect the property's rating and income.
Management costs: If the owner does not live on the island, they will need a trusted representative or management company.

Following the growing interest in Ayia Napa and Paralimni, Protaras is also emerging from the shadows. The area is becoming increasingly attractive to tourists and foreign investors who see Cyprus as a place to rent, do business, and buy real estate with the prospect of growth in property value.

Tips for Beginners

Buying real estate in Protaras offers the opportunity to enjoy a vacation, make an investment, and live comfortably by the sea. However, it is important for beginners to understand the local specifics. The resort lifestyle, seasonality, and peculiarities of Cypriot legislation and mentality may surprise newcomers to the market. To avoid common mistakes, think through your purchase strategy in advance, assess your goals, and enlist the help of professionals.

Working with a Trusted Agent

Choosing a reliable real estate agency is key to safely and successfully purchasing a property in Protaras. One of the largest and most well-known agencies among foreign buyers in the Cypriot market is DOM Real Estate Agency. Operating throughout the Republic of Cyprus, the agency specializes in residential and commercial real estate sales, including new builds, resales, and investment properties. DOM Real Estate offers a full range of services, including property selection, legal verification, paperwork assistance, permanent residence application support, and rental organization. DOM works directly with developers, maintains an up-to-date database of properties, and helps clients find solutions for specific needs, whether they are looking for a vacation home, an investment property, or a place to relocate. The agency has an office in Paralimni, which is especially convenient for those interested in real estate in Protaras and the surrounding area.

Set aside time for selection, purchase and paperwork.

Buying property in Cyprus is not a one-click operation. Depending on the type of property, payment method and legal nuances, the process can take from several weeks to several months. It is particularly important to bear in mind that obtaining a purchase permit and applying for permanent residence (if applicable) requires time and preparation.

Tip: Paperwork in Cyprus is always lengthy. If there is a deadline, it is best to have a solicitor handle all applications and transactions.

Buyers often underestimate the time needed to agree terms with the developer, transfer funds from abroad, and register the contract with the land registry. During periods of high demand or the holiday season, the process can be delayed. Therefore, it is wise to plan your purchase well in advance, especially if it is linked to a move, the start of the school year or the end of your current lease.

Consider the purpose of the purchase: is it for living in or for investment?

Before choosing an area, type of property and budget, it is important to clearly define why you are buying property in Protaras. The approach to choosing a property varies greatly depending on the purpose:

Permanent residence requires different parameters to rental property. Mistakes at this stage can result in an inconvenient location, low income or excessive expenses.The main differences are as follows:
For a permanent residence, people often choose quiet areas where proximity to shops, schools and transport links is more important than walking distance to beaches.
For short-term rentals, a location in a tourist area with sea views and a swimming pool is key, as is high capacity.
For long-term rentals, important factors include versatility of layout, low utility costs and the availability of parking.
If the goal is to obtain permanent residence, the property must be new and meet the requirements in terms of cost and registration.
For business or resale, it is worth looking at properties with potential for value growth, for example in development areas or near infrastructure projects.

Having a clear goal in mind helps to narrow down the search, save time and choose a property that will really meet your needs. If this is your first investment and purchase in Cyprus, it is definitely worth entrusting the matter to professionals. They will not only secure the transaction, but also save the buyer time and money by arranging online viewings and communicating via the internet, reducing the need for ‘working’ trips to the island.

Read also:

Source: DOM

Photos: Flickr, DOM

Interested in property on the island? Check out the number one real estate agency in Cyprus, DOM! The website features the largest database of real estate in the country – over 100,000 residential and commercial properties across the entire island. Choose and consult with professional brokers who will help you make the right choice!

Irina Zholnirova