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Buying property in Cyprus – A quick guide

Cyprus is a great to live and easy to relocate to. People come from all over Europe to Cyprus because of the sunshine, the wonderful Blue Flag beaches and the fact that English is spoken throughout the island.
In Cyprus they can enjoy a high standard of living at a relatively low cost. Cyprus properties are a very good investment because of all the facilities they allow access to. Private health care is excellent and there are no visa issues as Cyprus is within the EU so visitors can stay for 90 days and apply for alien registration if they want to remain for longer.

There are many different types of Cyprus properties in different locations, such as modern city centre flats, traditional Cypriot town houses and expansive apartments with sea views. These choices are always growing thanks to the boom in Cyprus development. Last year there were impressive price rises for Cyprus property, which is all freehold. The stability of Cyprus' high performing economy and strong legal system gives investors peace of mind and a feeling of security.

Ayia Napa Beach - cyprus

Cyprus properties for sale are also considerably cheaper than in comparable destinations such as France, Portugal and Italy. People who are not native to Cyprus can buy a plot of land or a dwelling not larger than 2676 square metres, though permission can be granted for a larger plot if a good reason is given.
Once the property has been chosen the buyer usually deposits something in the region of 1,000 Euros, which makes it a legally binding purchase agreement.

Contracts are then put together and have to be sent to the land registry office along with a written application to the Cyprus council of ministers in order to gain their approval to transfer the ownership.
After the approval is granted, all the taxes need to be paid, including the transfer tax and the annual property tax.

Cyprus residents can choose a way of life when they choose their apartment, flat or house, such as city living, beach life, or the tranquil atmosphere of Cyprus' peaceful towns and villages.
With a great range of villas, flats, town and country houses in every area from Ayia Napa to Zygi, buying in Cyprus could not be more rewarding.

Map of Cyprus

Although the island is divided buyers should know that it is possible to buy around the area known as ‘Free Famagusta’. This includes the quiet resort of Protaras which is surrounding by dazzling beaches and some of Cyprus' best nightlife.

Renting property in Cyprus – A quick guide


Cyprus properties rentals are easy to find with a large amount of short and medium-term rentals available, especially during the winter. Properties can be found by using estate agents or by looking through the newspapers. It is possible to rent luxury furnished apartments by the coast which have swimming pools and tennis courts for a very cheap price.

There is a surplus of properties available in tourist destinations like Larnaca and Paphos during the off season. Rentals are more expensive in Nicosia, and there are less of them as they tend to be snapped up by tenants quickly.

The majority of properties in the capital come unfurnished and have more than one bedroom, though everything is available as long as you have the time to look. Many landlords are willing to furnish a property, though it is worth asking exactly what is meant by furnishing as this may only include white goods such as a fridge and washing machine.

It is normal for the tenant to pay bills themselves, including water and electricity, and tenants should check whether they will be required to pay any communal charges if they are living in a block of flats.
Rent is usually paid one month in advance with one month's deposit. Tenants should carefully inspect contracts to make sure that the landlord is liable to pay for any repairs excepting fair wear and tear and that he or she is also responsible for insuring the property.

Be sure to check on the term of the lease (landlords who have furnished a property may want a two year contract to cover their expenses), how to get the deposits back, and find out whether the rent or rate of the communal charges is fixed. Tenants who do not speak Greek have the right to ask for a full, formal contract to be drafted in English. Cyprus property is good value as long as you make sure that your rights as a tenant have been protected by a contract.

Properties are available in Cyprus for a range of monthly rents, and some rates can be as low as 400 Euros for one bedroom fully-furnished apartments. Holiday lets account for most of the Cyprus rentals as so many people are drawn to the island because of the climate and easy way of life.
Long term rentals are most common in the cities and towns rather than the resorts where there is a surplus short term rental options.

It is however a good idea to check whether the apartment, house, villa or flat has air conditioning for the very hot summer months and central heating as it can get cold in winter.

The following sites are companies that we have dealt with in Cyprus for buying and renting properties..

Ultra Properties Cyprus . Wide Range of Properties For Sale in Cyprus. Say Hello to James !!

Top Properties - Online resource for Properties and Villas to rent or sell worldwide.

Cyprus Government Portal. Available in Greek and English.

Car Hire Cyprus:  Great Car Hire in Cyprus ;-)

 
Kellie Hodge
Posted: August 24, 2009 by Kellie Hodge 0 comments
About the Author -

Travel writer, customer service guru, Kellie knows the ins and outs of car rental and always happy to share her knowledge on our blog. Favourite country to visit: Spain.

Last updated: Tuesday, August 20, 2019
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