This accommodation option is ideal for families. You can buy a house by the sea at completely different cost, depending on the materials from which it is made, as well as the number of floors and bedrooms. On average, prices start at 50,000 euros. One of the most profitable options is to buy a house in Cyprus by the sea for two owners (a mansion divided between two families). You can also find good offers of housing, which is in an old condition and needs reconstruction, but is equipped with everything necessary for a comfortable life.
A house by the sea is very good for rent: it can be rented as a whole for a family or a large company, or in rooms. Buying such a house is a profitable investment, because the cost of Cypriot cottages and mansions is growing every year.
Buying and selling a house in Cyprus by the sea: analysis of the real estate market
Let’s turn to the real estate market in Cyprus: it is changing very quickly. Potential buyers consider buying a house in Cyprus by the sea primarily as a way to save their investment. Despite the fact that foreign buyers are chasing difficulties in the domestic market related to bank deposits, payment system, mortgage interest rates, they are still focused on buying property in Cyprus.
There is also an increase in the population due to immigration. This guarantees not only the high construction potential of new residential complexes, and, consequently, the improvement of infrastructure.
Many foreign citizens choose Cyprus as a platform for the realization of their professional opportunities. It also guarantees a new influx of population. In this regard, new offices will be built and opened, which will only positively affect the rental of property in Cyprus. The demand for it will only increase. Cyprus still remains a popular destination for recreation, education, business and, of course, life. For this reason, the demand for a house in Cyprus by the sea will continue for a long time.
Selling a house in Cyprus by the sea is also relevant compared to buying and renting real estate. Particular attention is focused on such cities as Limassol, Paphos, Larnaca and Nicosia. The system of selling objects to foreigners is successfully implemented in Cyprus, and some transactions are concluded remotely or online.
House in Cyprus by the sea: 4 reasons to buy a house by the sea
There are not only favorable climatic conditions, clean beaches, but also a developing infrastructure that offers great opportunities for foreigners.
Pay attention to 4 reasons that will undoubtedly affect the purchase of a house in Cyprus by the sea:
- Availability of houses in different price categories. Many new facilities are being built in Cyprus to support the country’s economy. New housing projects are being sold at an affordable price. This motivates both foreigners and locals to make a purchase and conclude a deal. Cyprus also offers a reduced VAT rate.
- Comfortable and cozy property. Homes for sale in the primary and secondary markets are modern and luxurious. Potential buyers can buy a house in Cyprus by the sea with a swimming pool, a security system, within walking distance from the sea and many amenities nearby. In addition, most facilities have heating and air conditioning systems to ensure comfortable living conditions regardless of the time of year. And also a frequent occurrence in houses in Cyprus is the equipping of solar panels for heating water, which significantly saves on utility bills.
- Developed platform for investment. Buying a house in Cyprus by the sea is a profitable investment in real estate. Future owners of a house in Cyprus by the sea can rent it out and receive passive income.
- Low noise level. Houses in Cyprus by the sea are located in less busy areas, unlike apartments. This reduces the noise level from tourists, highways and large pedestrian areas.Houses in Cyprus overlooking the sea are ideal for foregners.
The cost of a house in Cyprus by the sea
In Limassol, the cost of a house in Cyprus by the sea starts from €400,000. Such an object is located on the second coastline, but is equipped with furniture and household appliances. Prices for a house in Cyprus on the first coastline starts from 650-700 thousand euros.
In Paphos, the price of a house starts from 200-300 thousand euros. This is one of the most budget-friendly options that Cyprus has to offer. The houses are located in beautiful well maintained complexes. They are incredibly comfortable. The property is equipped with necessary furniture and household appliances. Most of the objects have two or three floors. From the rooms on the second floor there is an amazing view of the sea.