We are addressing probably the most difficult question for anyone considering a move to Cyprus: should you buy a house or an apartment? In this article, we have gathered all the arguments in favor of each option to help you make an informed decision when buying property in Cyprus.
Let’s imagine a situation: you’ve decided to buy a property by the sea. You’ve calculated the budget and even chosen the country—Cyprus. But that’s not all; now you need to decide: a house or an apartment. It’s a difficult decision…
Cyprus offers a diverse range of properties, so you can easily find the one that best suits your expectations and lifestyle. There won’t be any issues with a lack of choice, so it’s important to weigh the pros and cons of each option. The main thing is to ensure you feel as comfortable as possible, even in a new country.
When deciding between an apartment or a house in Cyprus, there’s no definitive answer that suits everyone. Both options have their unique appeal, and the choice ultimately depends on your preferences and lifestyle. Let’s break down the key advantages and disadvantages of each option to help you make an informed decision.
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Reasons to Buy an Apartment in Cyprus
Advantages:
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Cost-Effective: The price difference between an apartment and a house can be significant, sometimes saving you millions of euros. Apartments are generally more affordable, both in terms of purchase price and ongoing maintenance costs. Utility bills and repairs are typically lower for apartments compared to houses.
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Low Maintenance: With an apartment, you don’t need to worry about the upkeep of the building or surrounding area. A management company often takes care of cleaning, landscaping, and maintenance.
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Convenient Location: Apartments are often located in prime areas, whether near the sea or in the city center. This means you’ll have easy access to essential services like schools, clinics, shops, and entertainment venues, which are usually within walking distance.
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Beautiful Views: Living in a high-rise apartment allows you to enjoy stunning views of the sea or the city, which is a major draw for those moving to Cyprus.
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High Demand: Apartments tend to be more in demand, making it easier to resell or rent them out if needed. Their popularity can also make them a safer investment.
Disadvantages:
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Noise and Privacy: Living in an apartment means sharing walls with neighbors, which can result in noise from crying children, barking dogs, or loud music. You may also have to deal with external noise from construction sites, roads, or nightclubs.
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Limited Space: Apartments usually offer less living space compared to houses. You’ll need to be more strategic about storage, and there might not be enough room for large appliances or vehicles.
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Shared Spaces: The cleanliness and condition of shared spaces like entrances and hallways can affect your living experience. If not well-maintained, these areas can become an issue.
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Parking: Parking can be a challenge in apartment complexes, especially if you own more than one vehicle. Limited parking space may mean competing with neighbors for spots.
Deciding whether to buy an apartment or a house in Cyprus depends on your personal preferences and lifestyle needs. Apartments are cost-effective, low-maintenance, and often located in convenient areas, but they come with potential downsides like noise and limited space. On the other hand, houses offer more privacy and space but come with higher costs and maintenance responsibilities.
Or still buy a house in Cyprus? All for and against
