- Are you someone who is considering investing in properties in Cyprus and want to enjoy scenic views of the beach?
- Has it always been your dream to own a tranquil haven in Cyprus and be a part of the Mediterranean?
- Do you know how you would be able to fulfill your dream of owning a beach house or a vacation home in Cyprus?
A fact, which most people do not know is that some of the world’s biggest celebrities have their homes in Cyprus. From sports icons, movie stars, music moguls to Silicon Valley entrepreneurs, Cyprus has emerged as the number one location for owning real estate in Europe.
As most of you know, Cyprus is one of the islands on the Mediterranean Sea. The country boasts of long stretches of private beaches, great nightlife, and amazing culture in terms of food and people.
In this article, we speak to leading real estate experts and ask them for tips to choose the best properties in Cyprus.
Contents
Why you should Invest in Cyprus Real Estate?
According to experts, the following are some of the major reasons, you should invest in real estate properties in Cyprus-
- Cyprus is one of the most naturally beautiful countries in the world. From rugged coastlines to blue waters, you can enjoy wonderfully.
- It makes for a great getaway, especially if you are looking for a vacation home or a beach house for family tours.
- The property valuation in Cyprus is slowly picking up with more and more people looking for bigger villa-style properties.
- It is a great option for investors, looking to increase their wealth by flipping properties in Cyprus when the time is right.
- The taxation policies in Cyprus are relaxed as compared to other European countries. This means you will be getting great value on your investments.
If you are looking to invest in Cyprus real estate, there are a ton of options in Nicosia, Limassol, Paphos, Larnaca, Peyia, and other cities.
Tips to Buy the Best Properties in Cyprus according to Experts
In the last few years, interest in the real estate market of Cyprus is slowly picking up pace. While the properties are still very much affordable, real estate experts feel that the same may not be the case in some years. They state that Cannes started along the same lines, and we all know where it is now.
Let us now look at some of the best tips to buy properties in Cyprus-
1. Work with a Good and Credible Real Estate Company-
If you are looking to buy property close to any beach in Cyprus, you need to make sure of the certifications and rules. This is where a credible and reputed real estate company can come in handy. Many government regulations exist for carrying out construction-related activities. Unless you are aware of them you might get stuck with your investments.
2. Check the Proximity to the Beach-
Let us be honest; the best attraction of Cyprus is its proximity to vast and uninhabited coastlines. We all crave some privacy away from prying eyes, and Cyprus allows us to enjoy mother nature in all its glory away from ‘people’. If you are someone likes me, who just wants to detach themselves from the world sometime, Cyprus’ beaches are the place for you.
3. Go for an Area that is upcoming in Value-
At the end of the day, any investment you want to make in real estate should take into account the rising valuation factor. Experts state that there are a few areas in Cyprus, which can see a lot of growth in the near future. For example, Limassol, Nicosia, and Paphos are upcoming areas, which are expected to strongly rise in value in the coming years.
4. Be Clear about the kind of property you want-
If you want to get a villa on the beach, you need to be certain that that is the kind of property you would want. If you want an apartment, then you need to prepare accordingly and communicate the same to your real estate agent or company. Having clarity about the kind of residential property you are looking for will allow you to prepare much better.
5. Be sure on the Legal Residency Permit front-
Did you know that purchasing a property allows you to obtain a legal residency permit in the European country of Cyprus? This not only allows you to enjoy the multiple advantages of being a member of the EU but paves the way for a full passport if you are looking for one. The process is detailed and takes some time, but it is definitely easier than any other EU country.
Different kinds of Real Estate Options to choose from in Cyprus
If you are convinced about choosing real estate properties in Cyprus, you have three major options-
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Residential Homes-
There are tons of credible second-hand homes, mobile homes for sale, villas, and apartments for rent, which you can remodel, redecorate or even construct from the ground up. Residential homes are low in terms of taxes, and allow you to live in Cyprus with an official legal residency.
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Holiday Homes-
You might not want to stay in Cyprus as a resident, but visit the country during your children’s summer and winter breaks. For these reasons, a holiday home on the Cyprus coastline is an unparalleled experience. You will love the glowing sun, great seafood, and amazing relaxation.
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Investment Purposes-
Investing in Cyprus real estate might just be one of your life’s best investment decisions. Properties in Cyprus are great for investors who are looking at high value and record growth percentages. You need to ensure that you are abiding by the tax structures of the land.
The Final Word
In this article, we have tried to cover important points about why you should invest in Cyprus real estate. Unlike other Mediterranean countries, Cyprus is still pretty affordable and relaxed in terms of rules and regulations. If you wish to know more about properties in Cyprus, please mention your questions in the comments section below.
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