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Home in Cyprus
Mercury GroupThe aggregator Global Properties aids overseas buyers in exploring the complete range of villas and apartments in Cyprus. It allows them to acquaint themselves with the prices and select properties of interest for inspection and potential purchase.
For the convenience of users, the site incorporates built-in search filters to facilitate sorting options by property type, neighbourhood, number of bedrooms and price in a preferred currency. Buyers can directly contact the seller to clarify viewing details, request additional photos or videos of the property and discuss possible discounts or other issues.
The cost of property in Cyprus varies significantly depending on various factors, including location, size, condition of the property and proximity to the sea or attractions. For instance, a 2-bedroom apartment in Girne can cost as little as USD 104752. On the other hand, the most expensive apartments are found in the tourist hub of Ayia Napa and will require spending up to USD 20 million.
However, the cost of apartments in Cyprus remains considerably lower than in most European countries, averaging around USD 1,680 per square metre.
- The minimum size is 1 m²
- The largest size is 1738 m²
The state provides an opportunity for overseas buyers to obtain a residence permit by investing in local real estate. To participate in this programme, it’s necessary to invest a minimum of USD 300,000 + VAT in housing on the island. Investments in apartments and flats in Cyprus provide prospects for the preservation and multiplication of capital due to the stability of the market and the potential for growth in the value of housing.
Apartments for sale in Cyprus
The opportunity to buy apartments in Cyprus for investment and living attracts foreign investors and expats due to the unique natural conditions, favourable investment offers and high quality of life on the island.
The most popular cities to buy a flat in Cyprus:
- Limassol, one of the most vibrant parts of the island, attracts investors and buyers seeking an active city life with a wide range of entertainment, restaurants and stores. Numerous new housing developments are offering modern amenities. The price for an apartment in Cyprus, in the city of Limassol, is approximately twice as high as in other locations;
- Paphos is ideal for those looking for a quieter and more measured lifestyle. The town is known for its archaeological monuments and proximity to natural beauty. Apartments here are often preferred by retirees and fans of history. The cost of flats is more affordable for a wide range of buyers;
- Ayia Napa and Protaras, located in the east of Cyprus, are renowned resort towns popular with tourists and those seeking vacation accommodation by the sea. Young people and families with children are drawn here, attracted by the wide range of beaches and recreational activities. Accommodation here is relatively inexpensive;
- Nicosia, the capital of the state, offers more opportunities for those who want to live in a dynamic centre. It’s home to major universities and business buildings, making the region attractive to students and professionals. The city is among the top three in terms of residential property values;
- Larnaca is a lively city with excellent transportation accessibility. The location attracts young couples with children, offering an excellent balance between entertainment and relaxation. There are career opportunities for international professionals in the hospitality, tourism and service industries. The apartment prices in Cyprus in Larnaca are quite democratic.
A variety of real estate for sale is available to overseas buyers, ranging from modern apartments in high-rise residential complexes to more traditional flats in smaller apartment buildings. New residential complexes often boast amenities such as swimming pools, spa centres, fitness rooms, barbecue areas, landscaped recreational areas, playgrounds and covered parking. The safety of residents is guaranteed by 24-hour security, CCTV and controlled access.
Reasons for investing in an apartment in Cyprus
When considering a place to relocate and conduct business, many foreigners look towards Cyprus. The state is renowned for its substantial returns on real estate investments and its robust local economy. For instance, citizens of other countries can buy housing in the area worth over USD 300,000 and obtain a residence permit through a simplified procedure, which is formalised in just three months. Moreover, the investor's family members are also entitled to take advantage of this opportunity.
In 2023, the Cyprus real estate market showed considerable dynamism and flexibility, maintaining record high levels of transaction values (totalling USD 5.5 billion). A total of 15,567 properties were sold, showing an increase of 3% compared to last year.
In 2023, overseas buyers acquired 6,900 residential properties in Cyprus, with the majority of transactions taking place in Limassol and Paphos.
Overall, the price of flats in Cyprus remains both affordable and attractive to foreign buyers. By renting out the acquired apartments, the owner can generate a passive income ranging from 6.76 to 9.11% per annum. With the right choice of property, the profit can grow significantly.
Buying apartments in Cyprus
The website Global Properties offers a wide range of apartments in different locations on the island, ranging from budget options to premium housing units. Buyers can easily find a suitable apartment or villa in Cyprus using filters by price, area, number of bedrooms and other parameters. The catalogue is regularly updated, both manually and automatically, providing current offers. Contact the operator of the service for advice on the choice of housing available or buying an apartment in Cyprus.