Buildings in Cyprus are in stable demand from foreign investors. The island is profitable from a tourist point of view, and here they are actively investing in detached buildings for resale or rent. In addition, there is a loyal taxation system and a favorable economic situation for business development.
Buying a building in Cyprus is an excellent solution for a stable investment income, since the price of commercial real estate is growing from year to year. The demand for commercial real estate lease is high, and the rental rate is also constantly rising. Therefore, you will be able to get a high rental income.
Estate of Cyprus real estate agency offers profitable properties in various areas of the island. We have apartment buildings and office centers for sale in Paphos, Limassol, Nicosia, Larnaca. We will find you the best option for your budget.
Buildings in Cyprus: features
An apartment building or a block of apartments are the most reliable investment options. Cyprus is a tourist island with a large flow of visitors all year round. There is always a high demand for housing, so you can rent or sell apartments at a profit. Average cost of residential property: 1 m² – 1300-1400 €. And the annual rental income is 2-5%. You can buy a building in Cyprus at the stage of planning or construction. Or buy a secondary property and convert it for yourself.
Residential buildings are located in special areas away from industrial or commercial facilities. As a rule, the houses have a well-developed infrastructure, good transport accessibility.Office centers are being built in business centers of cities; infrastructure and transport accessibility are very important for them. Most of these facilities are in Limassol and Nicosia. The island’s economy is booming, real estate incomes are growing, and many investments and businesses are flocking to Cyprus. The profitability of the purchased office object when leasing will be about 6% per annum.
Rooms or offices are built with the utmost attention to detail. Used high quality materials, good technical equipment: modern air conditioning and lighting systems, alarm systems. In terms of layout, objects can be completely different. As a rule, there is a basement, the main ones, there may be roof verandas. The office centers provide open spaces and individual rooms, meeting rooms, dining areas, and a reception area.
Why buy a building in Cyprus:
- It is profitable to buy residential properties and office centers in Cyprus, because real estate here is growing in value every year. In addition, you will never be left without tenants, as the demand for housing and offices is consistently high here.
- There are not so many elite class “A” houses and offices on the island, they are in short supply. You can occupy this niche and receive high passive rental income from anywhere in the world.
- Buildings in Cyprus are built from quality, certified and durable materials. Reinforced concrete structures are strong and can withstand heavy loads. Objects are sold with and without a fine finish.
- The houses are fully compliant with quality standards, safe and durable.They have a built-in security and fire protection system, reliable electrics.
- The objects have a landscaped adjoining territory with recreation areas and playgrounds, spacious parking, designed for the number of residents and office visitors.
- Favorable location, proximity to tourist and business centers, medical institutions, banks, shops. Good transport interchange, exit to the main highways of the city.
Now you can easily and quickly buy a building in Cyprus thanks to the convenient loan conditions. Local banks are loyal to foreigners and give loans at reasonable interest rates.
In addition, ownership of real estate worth from € 300,000 gives you the right to obtain permanent residence in Cyprus, and after 7 years of stay in the country – to apply for local citizenship.
Buildings in Cyprus: prices
The cost of an object depends on the type and return on investment of the property. The higher the projected profit, the higher the price will be. The following factors also affect the cost:
– object category;
– comfort level: technical equipment, decoration, furnishings, etc .;
– location, infrastructure development;
– number of storeys, area;
– landscaping of the local area.
The most expensive properties are sold in Limassol and Nicosia – in the business and tourist centers of Cyprus. In Paphos, you can buy buildings much cheaper, and in Larnaca – even more profitable. For example, an object in Paphos with an area of 721 m² with 20 bedrooms and 16 bathrooms costs almost 2,400,000 €. In Limassol, a multi-storey building with an area of 2,328 m² will cost € 21,000,000. In Larnaca, an object of 1100 m² costs 2,300,000 €.
Estate of Cyprus real estate agency will help you find a suitable building in Cyprus. In addition, we will provide full legal support for the transaction and provide after-sales service. We cooperate with trusted developers and reliable sellers of secondary real estate.
Contact us on the website or by phone – we will give a free consultation and make an individual selection of objects.