Cyprus is a democratic, economically developed European country with a dynamic, active construction and real estate market.
Over the past few decades, real estate in Cyprus has attracted a large number of foreign investors from Europe and more distant countries.
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Cyprus, Limassol, Paphos
Cyprus, Limassol
Cyprus, Paphos
Cyprus, Larnaca
Cyprus, Limassol
Cyprus, Limassol, Paphos
Cyprus, Larnaca, Limassol
Cyprus, Larnaca
Cyprus, Paphos
Cyprus, Paphos
Cyprus, Larnaca
Cyprus, Limassol
Cyprus, Larnaca, Limassol
Cyprus is an economically developed European state, a presidential republic, located in the east of the Mediterranean Sea. It is a member of the European Union, as well as a number of international organizations: the OSCE, the World Trade Organization, the Commonwealth of Nations, the Council of Europe, the European Bank for Reconstruction and Development, the International Civil Aviation Organization, the International Atomic Energy Agency, the International Monetary Fund, the Food and Agriculture Organization of the United Nations and many other organizations. The Republic of Cyprus joined the EU in 2004, and in 2008 joined the eurozone, replacing the Cyprus pound with the euro, a single currency for the union of European states. A significant share of the gross domestic product is made up of income from the tourism sector, which accounts for up to 1/5 of all foreign exchange earnings in the economy. Then comes the construction sector and the real estate market, in which at least 30% of sales are transactions with foreign capital. The financial sector has been significantly developed in Cyprus, and the mining and manufacturing industries, as well as many areas of agriculture, are also developed.
A significant proportion of buyers of Cyprus real estate are citizens of the European Union, Great Britain, Russia, Israel and Lebanon. Many buyers are attracted by the warm, sunny climate of the island, others come for the developed business environment that has developed in Limassol and Nicosia, many are interested in obtaining permanent residence by investment when buying residential or commercial real estate from € 300,000.
The permanent population of Cyprus is more than a million residents, at least 20% of whom are expats from other countries. The economic well-being of the island largely depends on the tourism sector (about 20% of GDP), as well as the construction and real estate sectors, as well as a developed financial sector. Cyprus also has a developed mining and manufacturing industry, agriculture. The island is a permanent workplace for several hundred Cypriot and international developers who annually construct new, modern, high-quality buildings to meet the growing demand from locals and expats. The island's building standards are constantly evolving, with international developers bringing in new materials and implementing modern construction techniques, and foreign buyers motivating local companies to improve the quality of their projects. In recent years, the construction industry has been massively introducing a new energy efficiency standard, allowing for energy savings. In the commercial real estate sector, class "A" office buildings have appeared.
The Cyprus real estate market is served by several hundred Cyprus real estate agencies, as well as individual real estate agents who specialize in residential and commercial real estate in Cyprus. The professional work of Cyprus real estate agencies not only makes the real estate market more civilized, but also increases trust between its participants, reduces the number of fraudulent activities. This leads to an increase in the number of foreign investors in real estate, who are attracted by safe, conservative investments.
There are several hundred construction companies constantly working in Cyprus, which are engaged in the design, construction and sale of residential and commercial real estate.
Leptos Estates is a Cyprus developer founded in 1960. The company owns a large number of land plots, which it uses for the construction of residential and resort projects. The developer Leptos Estates has a large portfolio of both new and resale properties. For sale there are both residential complexes and luxury villas on the seashore. Currently, the developer has completed the construction of more than 325 properties. Leptos Estates provides professional services not only in the field of real estate design and construction, but also in the field of architectural design and interior design. Leptos Estates is one of the few developers in Cyprus that has a state license for the development of technical projects. Among the projects of the developer Leptos Estates are Adonis Beach Villas, Coral Bay Villas, Peyia Gardens, Akakia Villas, Armonia Beach Villas, Coral Seas Villas, Limassol Park, Limassol Blu Marine, Limassol Del Mar (built in cooperation with the developer D. Zavos Group).
Aristo Developers is one of the leading construction companies in Cyprus, with over forty years of history (founded in 1980), over 265 completed real estate projects, as well as 40 development projects that are currently on sale. Currently, the developer Aristo Developers has 6 offices in Cyprus, as well as 7 international offices in different countries of the world. Among the projects of the developer Aristo Developers, we can highlight Agnades Village 1, Angelonia Gardens 2, Aquamarine Coastal Villas, Argaka Village 6, Azalea Villas, Galaxy Residences, Imperial Residences, Meteora Residential Development.
The business community around the world pays great attention to Cyprus real estate, as the republic offers fairly loyal tax legislation, as well as the opportunity to obtain permanent residence for investments in residential or commercial real estate in the amount of at least €300,000 + VAT (from 5% to 19%). In addition to a good tax climate, the island offers its residents a pleasant, sunny climate with hot summers and mild winters. The local population treats expats from different countries well, out of more than 1,000,000 residents of the country, they already account for at least 20%.
Several hundred Cypriot and international construction companies are constantly working on the island, which are engaged in the construction of new residential and commercial real estate, as well as the necessary urban infrastructure. The largest developers of Cyprus include construction companies Aristo, Cybarco, Leptos, BFF, DTA, Imperio Properties, Paphilia and some other companies. Many of them were created with foreign participation.
The Cyprus property market is served by over 500 real estate agencies and individual real estate agents who work with residential and commercial properties in Cyprus. Professional, good real estate agents help not only to select the most suitable property in the client's budget, but also to ensure a legally correct real estate transaction, which allows the investor not to worry about the legal purity of the purchase. Active, professional activity of real estate agencies leads to an increase in trust between parties in the real estate market, as well as a decrease in the number of fraudulent actions, which attracts a significant number of new domestic and foreign investors in real estate, ensuring the growth of the construction industry and improving the standards of construction companies.
When working with professional real estate agents, the stages of buying and selling a property are reduced to a minimum:
Additional expenses in the form of a commission (3-5% of the property value), this risk is absent when purchasing a new property;
Risk of working with unscrupulous real estate agents.
The average cost of property in Cyprus varies significantly depending on the location, characteristics and purpose. The average price of an apartment is €240,000, while the average price of a house is around €340,000.
The constant leader in terms of property prices on the island is the coastal city of Limassol, which is home to a quarter of a million people, followed by the capital, Nicosia, and then the relatively small cities of Larnaca and Paphos.
The number of property transactions in Cyprus annually is more than 13,000. In recent years, the number of property sales using cryptocurrency payments has increased, which is an extremely convenient means of payment for many foreign buyers.
The disadvantage of this method of payment is the impossibility of obtaining permanent residence for investing in real estate.
Recommendations for choosing a good real estate agency in Cyprus:
The most popular city in Cyprus among tourists and businessmen is Limassol, which has a stunning Mediterranean climate, gorgeous beaches, and a developed business environment. Among the many areas of Limassol, there are several that are most popular among Cypriot and foreign investors.
In the east of Limassol is the prestigious area of Agios Tychonas, located on the coast and distinguished by modern infrastructure, rich history and pleasant natural conditions. Residents of the area have direct access to the excellent beaches of Limassol. The advantages of the Agios Tychonas area include its location near the highway and the city center, which provides residents with quick access to many areas of the city while maintaining the tranquility of the coastal area. The permanent population of the area is approximately 10,000 residents.
In this area there is a unique historical monument - the ruins of the ancient city of Amathus, which is one of the oldest settlements in Cyprus. The area is distinguished by a large number of beautiful beaches with fine sand and clean sea water, as well as developed infrastructure for water sports.
In Agios Tychonas there are a large number of shops, supermarkets, pharmacies, restaurants and cafes of both local and foreign cuisine. There are several prestigious schools and kindergartens (Kindergarten Agios Tychonas, Elementary School Agios Tychonas). Larnaca International Airport is located approximately 60 kilometers from the Agios Tychonas area. The cost of a one-bedroom apartment in this area starts from €250,000. Villas in this area are a symbol of prestige and wealth, their average cost is €1,500,000.
Real estate in the Agios Tychonas area is suitable for doing business in the field of short-term and long-term rental, as well as resale after several years of ownership, since the growth in property values here is on average 5-7% per year. Among the well-known residential complexes located in the area are Symbol Residence, Amatus Residence, Four Seasons Hotel, The Address by The Sea, Marathon Beach Apartments. Larnaca is a city in Cyprus, located on the south-eastern coast of the island. The city is famous for its beautiful beaches, leisurely pace of life, rich history and preserved historical and cultural landmarks. One of the two international airports of Cyprus is located here. The cost of real estate and rent of real estate in Larnaca is lower than in the capital of the country or in Limassol.
Larnaca has a developed beach life, as well as water sports. The disadvantages of the city include a small labor market and poor public transport. Currently, the construction of a new Marina is ongoing in the city. Its completion should lead to an increase in the cost of real estate and its rent, as has already happened in Limassol.
The average cost of a two-bedroom apartment in Larnaca is between €250,000 - €300,000. The cost of a villa with a sea view will start from €350,000.
Our website contains ratings and reviews of Cyprus real estate agencies left by real estate buyers. Careful study of the reviews will give you the opportunity to form your own opinion about the level of qualification of the employees of real estate agencies and make an informed decision about the possibility of cooperation with one of them. Buying real estate in Cyprus is a decision that requires a careful approach. By studying reviews of real estate agencies in Larnaca, Limassol, Paphos and other cities of Cyprus, you will be able to choose a partner for a successful purchase of real estate. Pay attention to the experience and professionalism of real estate agents, this will make the purchase process comfortable and safe.
To make a choice when buying real estate in Cyprus, you can check out the rating of real estate developers. And if you are interested in a specific location, then study the projects and reviews of Limassol real estate agencies.
