What property to buy in Cyprus for rent? Apartment or villa? Cyprus is a great place not only for recreation, but also for making money on real estate. You can buy an apartment or villa in Cyprus for a long-term investment or rent it out. This article is about the second option.
We will carefully analyze the issue of buying apartments and villas in Cyprus for rent. Let’s see for whom an apartment in Cyprus is more suitable, and for whom – a villa in Cyprus for rent. And perhaps this will resolve many of your doubts.
Apartments in Cyprus for rent
Let’s start with apartments and apartments in Cyprus and look at their key advantages and disadvantages.
Apartments for rent in Cyprus: the pros
- the cost of maintaining the apartment is less;
- thanks to the small area and convenience for everyday life, it is easier for apartments to find tenants;
- apartment buildings are located in the city – walking distance to shops, places of entertainment and developed infrastructure in general;
- it is easier to monitor the safety of the apartments during the residence of residents, even if they are not always in the country.
Apartments for rent in Cyprus: cons
- each square meter for an apartment will cost more than for a Villa in Cyprus;
- perhaps some of the tenants would prefer peace and quiet, while living in apartments is characterized by a lot of noise: neighbors, construction sites, city traffic;
- most often, it is difficult to change or adjust apartments completely for yourself even at the construction stage, the maximum of your possibilities is a small change in layout.
A separate plus of the apartments is the opportunity to increase the price of rent during the holiday season (from May to October). Most often, the price of renting a villa or cottage in Cyprus remains the same regardless of the season.
Villa for rent in Cyprus: the pros
- first of all, your own plot with a house is a huge territory and, accordingly, more comfort;
- your tenants will not be embarrassed by the presence of housemates, as in an apartment;
- usually, villa rentals are higher than apartments;
- plus, you have at your disposal a whole plot on which you can build the villa you imagine.
Villa for rent in Cyprus: cons
- villa tenants are not always easy to find, especially if your villa in Cyprus is located in remote areas;
- you will have to spend more time and additional money on caring for the site with the house;
- villa maintenance, especially with a pool and a garden, will be more expensive compared to apartments;
- besides this, a budget villa in Cyprus by the sea is not always something that is easy to find. And the proximity to the sea directly affects the demand for your housing in Cyprus.
These pros and cons of apartments and villas in Cyprus are generally accepted. But this does not mean that they are equally applicable to all housing options. Real estate in Cyprus is very diverse, and each option has its own characteristics. It will take a thorough search and weigh the pros and cons to find the right rental property for you in Cyprus.
Buying property in Cyprus for rent: first steps
When you decide to buy, first of all, you should pay attention to your wishes and possibilities. What are your goals for renting out property in Cyprus and what budget do you need for this? Are your savings enough?
You can start by choosing an area in Cyprus. For example, there are more budget options – these are Larnaca, Ayia Napa and others.But the demand for these places is increased precisely during the holiday season – from May to October. Approximately similar pricing policy for real estate in Paphos, but this resort is popular all year round.
At the same time, there is an option that is considered the most popular among tourists and more in demand regardless of the season. This is Limassol – the business center of Cyprus, a popular tourist area and a city common among Russian tourists. Accordingly, the value of real estate here is 30-50% higher. But the rent you receive will be many times more. In addition, it is less likely that the property will be idle.
Next, you should pay attention to the location of the property: proximity to the sea is always most in demand for rent. Especially if you are planning to rent housing in Cyprus by the day. For long-term rent, options with good infrastructure are suitable – most often these are apartments in the cities of Cyprus. But villas located in the suburbs of Limassol, Larnaca, Paphos and other cities of Cyprus can also be used. You just have to try a little harder to find tenants.
But during the downtime, you will have an entire villa or apartment in Cyprus at your disposal. You can use this time for your own holiday in Cyprus. Resting near the sea, as well as in your own home, is doubly pleasant. But if you have such a goal, you should approach the purchase of housing especially carefully.
Apartment or villa in Cyprus?
And finally, now that you know where it is more profitable to buy housing in Cyprus for rent, you can think about choosing the type of housing.Prices for apartments and villas in Cyprus can vary significantly. This often helps buyers with a fixed budget: budget apartments in Cyprus can be found more often. The point is the difference in square meters – apartments are often much more compact than villas.
The right choice of property in Cyprus for rent is a complex issue with many nuances. To win on renting out, it is important to choose the most worthy and suitable housing. Sometimes you may not see the hidden problems and disadvantages of real estate. This results in additional costs and possibly even loss of rental income.
In order not to make such mistakes due to ignorance, you can contact a real estate agency that specializes in buying a home in Cyprus. Consultations and support from the beginning of the search to the purchase and registration will help you make the right choice.
Apartment or villa in Cyprus? What else to pay attention to:
Other details that you should pay attention to when choosing an apartment:
- what kind of view opens from the windows;
- availability of a bus stop nearby;
- the area in which the apartment building is located in Cyprus;
- landscaping of the yard and cleanliness in the entrance;
- location near tourist sites.
What will help in choosing a villa in Cyprus:
- house territory, its size and landscaping;
- the presence of a barbecue, gazebos, a swimming pool and other additional amenities on the site;
- in the case of a location outside the city – the presence of good roads and, preferably, sidewalks;
- availability of heating in order to rent the house in the winter.
These points sometimes go out of my head and fade into the background. But the presence of certain amenities and their absence can help you make the final choice in favor of one or another site in Cyprus.
What kind of property to rent in Cyprus: the most common options
Apartments in Cyprus
When choosing apartments for rent in Cyprus, you will have 2 options: apartments in the city and suburbs.
When considering an apartment in the city, you can expect more demand for a higher rental price. The presence of places of entertainment, shops and cafes nearby makes this location more convenient. Such housing in Cyprus can be rented out both short-term and for a year or more. It’s up to you.
If you have chosen an apartment in the suburbs, things are a little different here. When buying an apartment in the suburbs, you should pay attention to the proximity to the sea. The location close to the sea will attract more people who want to rent housing in Cyprus by the day.
Villa or cottage in Cyprus
Finding a villa or a cottage in one of the cities of Cyprus is a great luck. There aren’t many options, but they do exist. However, most often it is a luxury property.
Considering the suburbs, you can pay attention both to the tourist area and to ordinary villages. The first option is more convenient for daily rent, you can rent a large villa even to several guests at once. If you are interested in buying a villa somewhere in the suburbs, not in the tourist area, then this is a more suitable option for a long-term rental in Cyprus.
Results: villa or apartment in Cyprus?
In this article, we have analyzed in more detail the main advantages of apartments and villas in Cyprus. It is clear that the type of housing is not the only thing to pay attention to. Location and cost also play an important role.
We have highlighted the main characteristics so that you understand how an apartment in Cyprus for rent differs from a villa. If you want to carefully approach the choice, you can contact a real estate agency and get a comprehensive solution for all your questions. Legal support and realtor services will be free for you, as they are paid by the owner of the housing you purchase.