Urban Keys: Find the Best Properties for Sale in Cyprus

Welcome to Cyprus

Cyprus, a warm and beautiful island located in the Mediterranean Sea, bridging East Europe, West Asia, and North Africa. It hosts the last divided capital in the world. It is important to note that the North half of the island is the Turkish Cypriot zone which is not within the EU. The South half of the island which is the Greek Cypriot zone is in the EU.

This means that the majority of properties for sale in the Northern territory have a very high risk factor for buyers, due to the ownership of the property and the right to sell these disputed properties is still controversial.

Cyprus is a brilliant global prospect destination for vacation, retirement, new families, and new businesses.

Properties to buy in Cyprus

There is a plethora of choices when looking for properties in Cyprus. Ranging from apartments and houses to industrial and commercial/retail buildings, the market can cater to your needs.

Apartments and houses aside, each city hosts multiple offices, shops, plots and fields for sale. You may find your ideal living or working space with great sea views, or in the heart of the island that is rich with the island’s history, culture, and innovation.

If you’re looking to expand your business, start a family, or build your dream vacation home, there are thousands of properties for sale in Cyprus that fulfil all the above.

When Buying Property in Cyprus

When purchasing property in Cyprus, you will be subjected to legal levies, stamp duties, and transfer fees. Therefore, it is advised to factor in 15% over and above the purchasing price to cover the respective registration fees and legal costs, but only if you choose to hire a real estate lawyer in Cyprus.

It is important to consider which city you are seeking to establish yourself in, as prices vary accordingly.

Paphos, Larnaca, and Limassol are all proximal to the sea, making for great sea views and activities. Nicosia on the other hand is in the centre of the island and is the last divided capital in the world.

EU nationals can purchase properties in Cyprus without any restrictions, whereas non-EU nationals are permitted to purchase approximately one acre of land or one house or apartment.

All expats seeking to acquire property in Cyprus are required to apply with the Council of Ministers to be granted permission first. Approval is often given, yet the process is tedious, so it is common to hire a real estate lawyer in Cyprus who can attend to the application in its entirety for you.

Finding the Best Property to Buy in Cyprus

Finding the best property to buy in Cyprus can be challenging, as there are many attractive selections to choose from.

When you do choose to seek out and buy propertiy in Cyprus, Urban Keys will answer your call.

Urban Keys Chartered Surveyors are a fresh, innovative, and bespoke venture, ensuring the Cyprus property industry is consistent to international standards, focused on customer needs and satisfaction.

Their expertise, combined with their unique and broad insight into the Cyprus real estate market and property valuations, make Urban Keys your first stop to finding the best property in Cyprus.

Property for Families in Cyprus

The best properties in Cyprus suited for a family can be found across the island, as each city has something unique to offer.

Larnaca is fantastic for those who prefer a more tranquil pace to life. It is situated by the beach and is very close to Larnaca airport. Property is more affordable in comparison to the other cities of Cyprus, such as Limassol or Nicosia.

Limassol hosts the best properties in Cyprus for active families. Limassol is a cosmopolitan city, with a wide array of international schools to choose from, including a plethora of entertainment venues and breath-taking vistas.

Nicosia is the only inland city, so it may not be an ideal location for a holiday home. Many locals work in the capital, so rent is high in demand. However, Nicosia offers some of the most bespoke schools and universities in Cyprus, as well a rich history of the island.

Finding the best properties in Paphos, Cyprus would be ideal for a busy family which loves to travel, and return to their comfortable home on their island paradise. Paphos has an airport nearby and some of the most iconic beaches and landmarks, such as the Birthplace of the Goddess Aphrodite.

An Opportune Time to Buy Property

The real estate market in Cyprus has been flourishing for years. In 2018 alone, the real estate market contributed 38% of the nation’s annual growth rate.

If you are buying your first home in Cyprus, the government is subsidising interest on first time buyer mortgages for the first 4 years, as well as a reduced VAT from 19% to just 5%.

Cyprus’ real estate market has always been bustling with opportunities for families and individuals. Property prices are more favourable in Cyprus than neighbouring countries, for example, you may find a great 3-bedroom villa for €250,000.

If you are looking to buy a property to lend it to tenants, then you must consider your city of choice. Nicosia is the best city for rent, as there are many locals who work in the city, meaning there is a constant demand to rent.

Find Out More

If you are a business professional or a family seeking your dream vacation home, or permanent residence on the beautiful island of Cyprus, the time is now.

There are ample options to cater to your needs, and first time home buyers have an excellent opportunity to save money on buying their home in Cyprus.

It is advised to seek the services of property valuators to help you find the best property in Cyprus, such as Urban Keys.

You may find out more about current real estate market here: https://urban-keys.com/

Lambros Kaloyirou BSc (Hons) MRICS .

Urban Keys Chartered Surveyors Ltd .

www.urban-keys.com.

70, 28TH October Ave 2414, Nicosia, Cyprus.

Telephone: +357 22 27 00 19 .

E-mail: [email protected].