Did you know that you could literally drive across Cyprus in just 2 hours? The island spans 200 kilometres from the east (Ayia Napa) to the west (Paphos). Although the island is obviously not that big, it packs quite a punch when it comes to real estate. The Republic of Cyprus is simply a prime location to own property. And why wouldn’t it?
The island country has a favourable Mediterranean climate, breathtaking landscape, scenery, and beautiful sea life – no wonder it’s one of the most populous Mediterranean islands. If you are interested in experiencing the wonder of Cyprus, below is a comprehensive guide on where to live. This guide applies to investment property, holiday homes, and residential homes.
Are you looking to land a bargain with your property purchase? Then pack your bags and head straight to the town of Larnaca. For as little as €75,000, you can own a flat or a small villa/bungalow at €150,000 in this port town on the south coast. To put this into perspective, you would have to part ways with at least €100,000 for an apartment in other regions of Cyprus such as Limassol, Nicosia, or Paphos. But why the low prices? The affordable property is partly due to the fact that Larnaca is a little more traditional than other alternative locations on the island. This is actually a favourable situation if you want to avoid the characteristic expat communities in Cyprus while enjoying the ancient monuments and palm-line promenade. And to add some seasoning to the broth, Larnaca has a local international airport.
While Larnaca is affordable, Paphos earns its place as one of the most popular real estate locations on the island – and for a good reason. The city boasts one of the most remarkable harbours in the Mediterranean. It is a perfect location for anyone whose idea of fun involves sipping a glass of fine wine while enjoying the refreshing sea breeze and scenery.
Part of Paphos appeal is its wide range of social activities and an established expat community. Are you into amateur dramatics? Or are you more of a rugby enthusiast? Whatever tickles your fancy, you likely find it in Paphos. And it’s only a flight away from the town’s international airport. The popularity of the 5th largest city in Cyprus might also be attribute to its previous status as the European Capital of Culture in 2017. The prestigious title attracted investments (over €25 million) to improve roads and archaeological sites in the town. Wait, doesn’t popularity and increased investment result in a surge in property value? Well, yes. For a villa, you need a budget of roughly €250,000 or €150,000 for a townhouse.
Between Paphos and Larnaca lies a town that seems to embrace traditional and modernistic cultures at the same time. Limassol has a contemporary alter ego as demonstrated by luxury residences such as the €350 million Limassol Del Mar or the state-of-the-art Marina developments. In contrast, you can also enjoy the Old Fisherman’s Harbor and winding historic streets, among other traditional architecture. It’s a surprise that the town has never lost its culture despite being widely recognized as the islands business centre. If you want to own a home on Limassol, you can acquire a 2-bedroom apartment for €100,000 or €3million if you have a taste for magnificent high-rise apartments.
Do you yearn for the fast-paced city life? Are you willing to keep the sunbed scene of the coastline at arm’s length? Buying property in the island’s capital of Nicosia might be what you need. Similar to Limassol, Nicosia is characterized by a delicate blend of traditional restaurants or ancient walls, and modern artists studios or cafes. You get to enjoy modern infrastructure and all the perks of living on a Mediterranean island. Expect to find a truckload of historic character, including art galleries and museums. Nicosia has a wide range of option for real estate investors. A luxury villa in the town’s suburbs might set you back at least £500,000 while an apartment costs around £120,000.
If you prefer to get away from the hustle and bustle of city life, why don’t you buy a home in one of the mountainous hotspots on the island? The region is typically quiet, pine-scented, cool, and refreshingly green. The Troodos Mountains are basically an expanse of forest cover above igneous rocks. Aside from the breathtaking landscape dotted with cosy stone houses, the Troodos Mountains are also known for Byzantine monasteries, picturesque villages, and resorts. You could purchase property in a wide range of locations in the region including Kakopetria, Pedoulas, Argos, and Troödos Village.
Ayia Napa is more of the Las Vegas of Cyprus. Although it was initially a humble fishing village, the town rapidly developed into the largest tourist resort in the island – earning a title as the party capital of Cyprus in the process. This trend is, however, taking a turn as multi-million-dollar developments aim to attract an upmarket clientele – similar to Mallorca and Costa Brava. Ayia Napa is surrounded by gorgeous cliffs and a 500-metre stretch of sand known as the Nissi beach. Property in prime locations such as Famagusta range from €200,000-€250,000 for villas and €100,000-€150,000 for apartments. It’s a perfect location if you are willing to part with the relatively higher prices.
Overseas Property Forum have a great selection of properties around Cyprus, with new properties being added every day. Find your ideal property in Cyprus here.