You’ll never be too far from the sea in Cyprus, no matter where you wind up living. Although the island is covered in villages and smaller towns, and there are many property websites where you can browse at leisure, we’ve included some of the most popular places for foreign buyers to focus on below.
Modern, cosmopolitan Nicosia, the Republic of Cyprus’ capital, is a vibrant metropolis of roughly 300,000 people located 50 kilometers from the seashore. North Nicosia is a section of the city that juts towards the Turkish side of Cyprus. Many people live in high-rise apartments, and the city as a whole is a centre for music, sports, culture, and business.
In Nicosia, there is a wide range of property for sale, with options to suit most buyers, whether they want to live there or invest in buy-to-let property. A high-end luxury home in the outskirts would set you back over €500,000, while a modest apartment in the city may be had for as little as €60,000, with the bulk costing around €120,000.
Residents of Nicosia are reported to enjoy all of the benefits of living on a Mediterranean island, as well as modern infrastructure, good schools, and plenty of shopping and dining options. While Nicosia is not a tourist destination in and of itself, it has great transportation links to the rest of the island.
Limassol, Cyprus’ second largest city, is a historic port town with a medieval castle and a picturesque and quaint old district full with tavernas and bars. Limassol, however, is a fairly modern city outside of the ancient town, with many examples of spectacular modern architecture in the shape of hotels, business projects, and water parks. Several kilometres of pale golden sandy beaches divide the urban environment from the pure blue Mediterranean.
Limassol, on the coast, has a pleasant subtropical environment, and a villa here starts at €250,000, with the sky being the limit for the more costly houses (one new-build is now seeking offers in the region of €30 million). Perfectly nice apartments, on the other hand, can be purchased for between €50,000 and €70,000.
Paphos, a UNESCO World Heritage Site, is located on Cyprus’s southwestern coast. Paphos, which has long been popular among British residents and tourists, is the place to go if you want to be close to the beach and historic remains of the past while yet being surrounded by shops, restaurants, and pubs. Paphos is a wonderful choice for those considering retiring to Cyprus or relocating with family for a better work/life balance. A top-ranked international school, shopping malls, a brand-new hospital, and a fascinating old town centre are all found in this popular town. Paphos was named Joint European Capital of Culture in 2017 alongside Aarhus, Denmark. Paphos has an international airport, which is one of Cyprus’ two main airports.
Because it is such a coveted location, property prices in Paphos are slightly higher than elsewhere on the island, ranging from €100,000 for a house with a swimming pool to millions for luxury coastal houses. An apartment or small house can be rented for €500 per month if you wish to rent for a while before deciding whether to buy.
On Cyprus, the phrase’siga, siga’ means’slowly, slowly,’ and nowhere is this more popular than in Larnaca, with its palm-lined seafront, calm backstreets, and historic churches and ruins. Larnaca, which is popular with artists and others seeking contemplation, can feel like stepping back in time at times, despite the fact that most of it is modern and cosmopolitan. In the summer, it’s a popular tourist destination, and you may enjoy a cup of coffee while watching the world go by at an outdoor café in the ancient Turkish area.
If you want to live in Larnaca, a bungalow will cost you back roughly 150,000 euros, while an apartment will set you back anything between €55,000 and €150,000. Larger villas and residences are available, with prices ranging from roughly €160,000 to €400,000.
On the far west coast of Cyprus in the hills overlooking Coral Bay sits the town of Peyia. Peyia, like Paphos, is a popular destination for British expats and tourists. Peyia is, in fact, a melting pot, with Brits, Cypriots, Russians, and, more recently, Chinese all residing there.
Walking in the hills, visiting the adjacent Turtle Bay nature reserve, and playing golf are all popular activities in Peyia. Furthermore, its proximity to the western Cyprus forests makes it a perfect location for nature lovers.
If you’re buying to buy a property in Peyia, townhouses start at roughly €100,000, but apartments start at around half that amount. Luxurious villas dot the surrounding slopes, with prices starting at roughly €180,000.
What kind of property are you talking about?
You most likely already know why you’re interested in Cyprus, but have you explored all of your options when it comes to property types? Some people, for example, want to buy a vacation home – somewhere they can go two or three times a year – but might they be better off buying a buy-to-let property that they can still visit but that would earn them money when they are not there? We’ve compiled a list of some of the most important options for you to consider.
People who desire to relocate to Cyprus can choose from a variety of properties. While apartments and villas are the most popular (and they are), there are also historic stone houses in beautiful towns, modern residences in urban settings, bungalows in the heart of forests, and off-grid organic farms for back-to-nature types. The property could be brand new, or it could be a dilapidated ruin in need of restoration — or it could even be brand new! It may be on a beach, on top of a mountain, close to a golf course, in the heart of a bustling metropolis, or out in the middle of nothing.
The idea is that when it comes to buying a place to call home, you should prioritize what pleases you over what pleases others. And Cyprus offers a wide range of options, some of which are more unusual than others.
HOME FOR THE HOLIDAYS
Many people are seeking for a second home somewhere in the sun where they can spend their vacations and even retire one day. Furthermore, owning a vacation home allows you to swap with other vacation home owners throughout the world and possibly lend it to friends. For potential buyers, Cyprus has a plethora of holiday houses, many of which are located near the sea or have their own pool.
PROPERTY TO BUY TO LET/INVEST IN
Purchasing a property with the intention of letting it out, whether to vacationers or residential renters, may be a terrific investment if you do your homework. While it is not as simple as buying a property for yourself, buy-to-let is still a viable option if you can obtain the correct mortgage. In a growing property market, buy-to-let can be a win-win situation since you make income from letting the property out while simultaneously accumulating capital. Furthermore, after the mortgage is paid off, you own the property altogether.