Cyprus set a record in property sales of 1.3 billion Euros during the first quarter of this year. A total of 1,574 properties were sold with a total value of 313 million Euros, and the average purchase prices for real estate in Cyprus ranged from 110 thousand to 314,000 Euros for this year, and the state has made the process of buying and selling real estate easy and easy for investors from outside Cyprus, so that It has become one of the best markets in the world and in Europe in particular. Cyprus is divided into 5 main cities, We will list these cities in order in terms of the best investment opportunities they provide and which ones provide the highest possible financial return on your investment:
Limassol is the second largest city in Cyprus, located in the far south, and has been popular with investors for several years in a row, as it is an important cultural, tourism and commercial center because it contains the largest sea port in the region, and the main feature of the city is the multinationality which include Russian, English and even Arabic, and it the city has everything you need to live a comfortable life, with many shops, restaurants and entertainment venues to choose from. The rental prices of apartments in it range between 700-2,500 Euros per 100 square meters, while the prices of residential properties range from 3500-6000 per square metre. Real estate investment in Limassol is a unique opportunity for those looking for it, as a property worth 400,000 Euros can return you a financial profit of up to 4-6% max.
Paphos is a city designed for lovers of peace and quiet, as its population is small compared to other cities, and it enjoys a mountainous nature, as it is possible to view the sea from almost any area of the city. Real estate prices in Paphos are lower than in Limassol, and the demand is moderate, so the preferred option is usually to invest in buying a property for retirement or holidays. Paphos offers a comfortable environment for living with family and children. The city is equipped with everything you need from kindergartens and schools to medical institutions, and the price of the property per square meter ranges from 1500-2500 euros.
Surprisingly, Nicosia has not been the leader in real estate sales for many years despite being the capital, because the city is far from the sea which means it is far from the main tourist activities. Most of the investors are local residents who buy housing in the capital, rent it on a long-term lease, or do business here. The rental price of apartments in Nicosia ranges from 800-1500 euros, while the value of the property per square meter is 3000-4000 euros. In Nicosia, investors are interested in buying property because they like to live away from the hustle and bustle of life in the coastal areas of Cyprus. For foreign investors, Nicosia is interesting for commercial real estate because this is a place that generates excellent profits with high demand, and this also includes investment by purchasing land, as land around the capital is very valuable.
This city is famous for its well-developed infrastructure, as it has a major and vital airport as well as a sea port responsible for all transportation and shipping operations. The investment in buying property in Larnaca is beneficial for those who will be permanently residing in the city, an apartment in Larnaca costs much less than an apartment of the same size The location is in Limassol and Nicosia, and some analysts suggest that Larnaca may become the “new Limassol”, as a result of the efforts to make it an important investment center for foreign investors from all over the world in the coming years. Indeed, a number of important companies have found a place on the lands of This city as one of the most prominent of these investments is the project to develop the port and the marina, at a cost of up to 2 billion euros.
Ayia Napa is located in the Famagusta region in southern Cyprus, which is called the capital of beach parties, as it hosts entertainment events and music festivals from all over the world. It is a seasonal city, as it is noticed that there are big jumps in profits during the summer holiday with the influx of tourists as the demand for renting housing increases, so it is preferable to search for good apartments, especially those suitable for living in seasons other than summer if you are interested in residing in the city, where the owners spend A quiet time of the year in their own residence in Ayia Napa, in the summer they are rented at very reasonable rates.