Buying real estate in Cyprus by the sea inexpensively is the dream of many residents of Russia. Many people want to escape from the harsh winters to an eternally warm country and settle near the sea. But how to do it – where to buy a house in Cyprus inexpensively? Those who do not know Cyprus with its features and real estate market will find it difficult to figure it out on their own. That is why we have written this article to help you.
First of all, you need to determine the limits of such a vague concept as inexpensive and choose the city in which you would like to settle. You can buy property in Cyprus by the sea in different cities, but prices will vary from city to city.
Choosing a city where to buy a house in Cyprus by the sea
Let’s go from the contrary and, first of all, discard the inappropriate option. This is the capital of Cyprus – Nicosia. There is no sea here, few Russian speakers, but nevertheless, very high housing prices.
Now let’s move on to what fits the conditions of real estate by the sea inexpensively:
Limassol: real estate in Cyprus by the sea
One of the popular options is Limassol: it has the sea and a wide variety of properties to buy. Acquired housing in Limassol can be used for living or rented out. New and under construction projects are valued at a minimum of 400,000 € for two bedroom apartments in Cyprus by the sea. The same apartment in a house in Cyprus, which is 10-15 years old will cost 220 – 250,000 €. A resale in a house by the sea aged 20-35 years will cost 150 – 180,000 €. Villas in Limassol by the sea cost 2 – 10 million €.
Of course, Limassol is not the most suitable option where you can buy cheap property in Cyprus by the sea. But if we consider real estate in Cyprus, Limassol is one of the most sought-after destinations, and it is easy to recoup the investment here by renting out the purchase on a daily basis. And the great demand for a house in Cyprus by the sea will not allow housing to stand idle, which means that utility costs will not be so large.
Inexpensive real estate by the sea: Larnaca and Paphos
Larnaca and Paphos are best suited according to the criteria for the description of “inexpensive housing in Cyprus by the sea”. Prices here are 30-50% lower than in Limassol.
Apartments in Larnaca by the sea will cost from 100 to 300 thousand €. And the price of houses in the suburbs of Larnaca starts from 150,000 €. At the same time, you will live within walking distance from the sea.
Larnaca is known for being a promising investment destination. There is a large selection of inexpensive real estate and many options for investment. The presence of a modern airport and the continuous development of Larnaca make the city so popular. If you are considering this relocation destination and want to buy a property in Larnaca by the sea for yourself, it will be easy for you to get comfortable: there are many Russian-speaking residents here, as well as schools, salons and clinics in Russian. This will allow you to change your place of residence and not face the problem of a language barrier.
At the same time, Paphos continues to grow in popularity as a destination for property purchases. The purchase of 2-bedroom apartments in Paphos is especially in demand. We can say that the prices here are even a little lower than in Larnaca. If you want to buy a villa in Cyprus by the sea, Paphos is the best choice. The cost of a villa by the sea in Paphos ranges from 700,000 € to 3,000,000 €.
Famagusta region: buy property by the sea
Most often in Famagusta consider such cities as Ayia Napa and Protaras. There are not many apartments to choose from here. But on the other hand, the cities are popular because here you can buy a villa by the sea inexpensively. Private houses on the seafront in Cyprus in the Famagusta region are more common and this is what many foreign buyers are looking for. Moreover, prices in Ayia Napa and Protaras are comparable to Larnaca and Paphos. This option can also be considered as an opportunity to buy property by the sea inexpensively.
Buying property in Cyprus by the sea: the pros
- Living conditions. Of course, living by the sea in itself is already an advantage that needs no explanation. And if we also take into account that the sea is not only peace and beauty, but also health benefits, then this argument alone will inspire many to move to Cyprus. The purest ecology, healthy sea air and natural products are the best conditions for taking a break from the metropolis.
- Investment. Interestingly, in the next 10 years, property prices in Cyprus are guaranteed to continue to grow, so it is better to decide on a purchase as soon as possible. At the same time, you can always easily sell property by the sea. This is a good opportunity to invest and resell property in Cyprus several times more expensive after a few years.
- Extraction of income. Similar to the previous option, when you can buy property in Cyprus inexpensively and make a profit from it. To do this, you can rent out the acquired housing for daily rent. Above, we analyzed which cities are best suited for this, but you can additionally consult with a real estate agency for free.
- Possibility of choice. It is important to note that if you wish, you will always find where to buy a house in Cyprus by the sea. Before you a large selection of cities, plots, apartments or houses. There is something for every budget and preference, because the Cyprus real estate market is very diverse.
Buying property in Cyprus by the sea: cons
- Overpriced. Although it has been said that you can find housing within your budget, it is quite logical that being close to the sea will cause the price tag to increase. That is, if we consider real estate not on the first line (within walking distance to the sea), but, say, on the third (20 minutes to the sea by car), then here for the same price you will find options for a larger area and better characteristics.
- Increased humidity. Often, thinking about all the charms of life on the seashore, real estate buyers forget about such a disadvantage as high humidity. But this is a very common problem that unscrupulous sellers carefully mask. The consequences of constant humidity in the apartment is the formation of mold. Not only on walls and floors, but even on your furniture. This is unpleasant to face, but unfortunately, many discover this nuisance too late.
- Location. Sometimes in search of how to buy cheap property by the sea in Cyprus, buyers settle for options in the suburbs. Of course, proximity to the sea and fresh sea air is a big plus. However, it is important to think about how you will get to the city. Because often in suburban areas there are not so many shops, even fewer salons and clinics, and even less places for entertainment. The best thing is to have your own car. Without it, you will have to make regular walks, for which the sidewalk is not always provided, or spend money on a taxi.
- Time costs. Choosing the right property is a time-consuming process.Especially if you are getting to know Cyprus for the first time and the peculiarities of local real estate. Buying property in Cyprus without intermediaries is real, but difficult. You will have to look at many options, spend money on flights if you are in another country, and most importantly, you will need to figure it out on your own. The alternative is to work with a real estate agency, the seller of the house pays for its services, not you. at the same time, you won’t run into scams, overpricing and substandard properties.
We have analyzed the pros and cons of buying property in Cyprus by the sea. Now you know all the advantages and pitfalls of this venture. In any case, this is a good idea for living and investing. The main thing is to responsibly approach the choice and, possibly, turn to a professional: a reliable real estate agency.