Snapshot Cyprus: A promising market

Why Cyprus?

Cyprus has long been celebrated for its rich culture and natural beauty. In fact, Cyprus is so  beautiful that the Ancient Greeks believed that Aphrodite, the goddess of love and beauty, was born in Cyprus. This stunning island boasts a large array of scenery, from bright blue lagoons, to quaint villages, to picturesque mountain ranges. People have flocked to Cyprus on account of its great weather, beauty, and exquisite combination of metropolitan areas and historical landmarks. Whether you’re looking to relax on a beachfront property or savour the views from a house high up in the hills, Cyprus is a haven for great real estate.

Sea Promenade in Limassol

Acquiring Real Estate in Cyprus

One key thing to note about Cyprus is that it is split into two factions: Southern Cyprus is Greek while Northern Cyprus is Turkish. Despite this division, both sides of the island are recognized as part of the European Union.

Given this division, potential buyers must be sure to consider which part they would prefer to reside in. Typically, expatriate real estate investors in Cyprus tend to purchase property on the Southern side. 

In terms of acquiring real estate, expatriates looking to purchase property in Cyprus should ask themselves several questions before doing so.

• Are you looking for a holiday home in Cyprus or permanent residency?
• What region would you like to purchase property in?
• What are the benefits of purchasing real estate in Cyprus?

There are several key benefits to purchasing real estate in Cyprus beyond the amenities offered by the island.

Strategic Location: Cyprus is an excellent location, allowing for residents to travel quickly and easily to other countries in Europe, the Middle East, and Northern Africa.

Residency and Citizenship: Property investment in Cyprus can lead to obtaining a permanent residence permit or citizenship, providing access to low taxes, education, healthcare, and social security.

Quality Construction: The Cypriot real estate market is known for high-quality construction and stable demand, contributing to its profitability.

Tax Benefits: Cyprus offers attractive tax benefits for real estate investors, including reduced income tax rates for property owners and exemptions on capital gains and inheritance taxes.

Stable Market: The property market in Cyprus has shown resilience and stability, with a consistent history of property price increases, offering potential for capital appreciation.

These factors make Cyprus an appealing destination for investors looking to diversify their portfolio and secure long-term growth in the real estate sector. Those seeking for a new permanent or holiday home will additionally enjoy the beautiful landscape of this island and the welcoming charm from its residents.

Where to look at in Cyprus

There are many cities and regions within Cyprus, each offering their own unique features and advantages. Expats looking to purchase property in Cyprus should consider these four cities: Paphos, Limassol, Nicosia and Larnaca.

Paphos

Paphos is one of Cyprus’s more popular cities for tourism and real estate purchases. Paphos is perfect for both long term residency and vacation homes as this bustling oceanside city has the best of both worlds. Residents have endless options in Paphos, whether they want to look at tranquil cliffside homes or villas located near the center of the city.

Lifestyle options in Paphos

Limassol

Following Nicosia, Limassol is Cyprus’s largest city. Located on the Southern Coast of Cyprus, Limassol is known for its wide stretches of beaches and urban centre. Limassol is the perfect spot for someone who is looking for a busy vibrant city with rich cultural roots and scenic views.

The tranquille side of Limassol

Nicosia

Cyprus’s capital city Nicosia, is a sprawling city located in the middle of the island. Investors looking for a taste of history, culture, and nightlife may find themselves drawn to the charms of Nicosia.

Nicosia – Capital of Cyprus

Larnaca

Larnaca is a port city that is home to both vivid nightlife and Cyprus’s primary airport. Those looking to Larnaca are sure to note it’s abundance of ruins and historical sights as well as the palm tree-lined sea front.

Larnaca – the perfect city for your holiday

Follow our journal as in the coming weeks we will present you the above cities in more detail and also great opportunities to live or to invest.