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The Basic Market Guide for Cyprus Property



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By : Nick Katsafados    99 or more times read
Cyprus is one of the most popular property markets in the world. Cyprus has been known for its tourism dating back to the 60's when Cyprus was then compared to the French Riviera, Cyprus has eventually become the hot spot of the real estate agents. Cyprus’s real estate industry has become one of the most sought out real estate markets in the world.

This boom has been greatly the result of the European Union merger and the booming economy of Cyprus. Today, not only the locals but also the Non-Cypriots are deeply involved in the real estate business in the country.

Cyprus is one of those few popular places, where foreign nationals have been investing in commercial, investment and residential real estate in large numbers all across the country. As there are no prohibitions on foreign nationals buying real estate in the country, the number of foreigners buying property in the country has in a way out numbered the local potential buyers.

However, if you are a foreign buyer, there are certain limitations that would be levied upon you as a legal clause. Though it doesn’t really limit your chance to invest, it makes transaction safer for all parties. So, in case you are a foreign national exploring property in Cyprus, make sure you are quite acquainted with these legal clauses.

Finding the dream house of your own is not such a problem in Cyprus. You can get villas, apartments, holiday homes and investment property for sale and rent throughout the country.

Right from resale homes in the countryside to recently new and off-plan apartments and villas in the main cities, Cyprus offers a wonderful combination of many options.

Economical North and Luxurious South

If you go for North Cyprus property, the rates are economical as compared to property in Southern Cyprus. However, there maybe an issue over title disputes, as title insurance is not generally accessible.

If you are looking for an urban lifestyle with sea on your side and fun all along, Southern Cyprus is the area you should explore. The budget maybe slightly higher but with property rates of this area growing every day, this is a property worth investing in.

For foreigners in Cyprus, the most sought after locations are the vicinity of the coastal towns of Ayia Napa, Limassol, Larnaka and Paphos. The Troodos mountains and the capital Nicosia are also quite famous and in demand.

There is no doubt that property is a hot business in Cyprus. So if you are interested in buying some exotic or unusual property for business or private purposes, you can get in touch with a multitude of registered and licensed estate agents who will assist and hand hold you till the closure.
Nick is a writer for a Cyprus property and travel website. He has written various articles for various publications. To view more of his work go to www.JustCyprus.eu/blog

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