Today many people did not want to limit themselves to short-term trips as most of them can work remotely from various destinations. They began to consider Cyprus as a suitable place to buy a home and property for investment. Cost of villas in Cyprus is one more important factor that contributes to the increasing demand from foreigners.
Let’s take a look at seven advantages that make buying a villa in Cyprus a favorable decision.
Pleasant climate and white beaches
The island is sunny and pleasant during the summer, and the sea heats to a good swimming temperature. Winter travel offers the opportunity to enjoy milder but still enjoyable weather as well as more active vacation activities like skiing.
The weather in the regions of Cyprus can vary considerably. Cities have a different distribution of rainfall during the off-season and winter, and in summer the difference in temperature becomes noticeable. The interior of the island tends to be hotter than the coastal areas. In particular, a hotter climate is characteristic of Nicosia than Paphos.
Cyprus beckons with its perfect calendar – summer from May to September, winter stretching from October to April. It’s not just a destination; it’s a perpetual invitation to paradise.
Multiplicity of property offers
The location represents a variety of villas of different sizes, designs and styles. Modern luxury villas with swimming pools and cozy country houses are available for purchase. Foreigners can choose the suitable option to meet their own preferences and budget.
The following factors determine the beginning price of a transaction and the selling of villas in Cyprus:
- Exclusivity and uniqueness of interior and exterior.
- The quality and cost of the building materials used.
- Position and proximity to the first line (distance from the sea).
- House type.
- Square footage.
- Neighborhood territory’s size and convenience.
- Window views.
- Annual yield.
Villas on the island range in price from €1200 to €1700 per square meter on average. The item’s price increases with proximity to the water. For example, Limassol offers villas from €200,000 to €15 million, Paphos – €150,000 to €22 million, Larnaca – €150,000 up to €7 million.
Strategic geographical location
Due to its location at the junction of Europe, Asia and Africa, Cyprus is a place with easy access to the whole world. It is ideally situated for fascinating travels to its neighboring Mediterranean countries. From the ports on the island, sea liners that are as comfortable as a four-star hotel frequently go to Jordan, Israel, and Egypt. The entire journey, which often takes several days, offers visitors the chance to learn about the cultures of the surrounding nations.
Favorable conditions for Cypriot property ownership
Beside numerous attractive conditions for property investment, Cyprus also offers citizenship and residency programs. These measures create unique opportunities for obtaining residency status and attracting investment. The government provides a right for foreigners to obtain permanent residence status if they purchase housing costing more than €300,000. It may be an off-plan or already delivered object.
Developed infrastructure and services
There is a developed infrastructure including schools, medical centers, restaurants and shops in the cities. Buying a villa close to the main infrastructure will ensure a comfortable lifestyle.
The variety of public and private educational establishments provides an opportunity to choose the desired education programme and language. Cypriot university students can also participate in the Erasmus+ program of the European Union, which enables students to study and work experience abroad.
Low costs compared to Western Europe
The experts say that living in Cyprus is much cheaper than in other Western European countries. This is important for those considering a villa as a permanent residence or investment.
The average cost of living in the popular cities of Cyprus is the next:
- Limassol – €4,500.
- Nicosia – €3,300.
- Larnaca – €3,000.
- Paphos – €3,000.
Analyzing the international market, the experts claim that the cost of living in Cyprus is dramatically cheaper than in Western Europe and America. Such a difference is explained by:
- Cyprus has a favorable tax system, making it an attractive destination for residents and businesses. Low tax rates can have a significant impact on the spending levels of residents.
- Compared to Western Europe and some parts of America, property costs in Cyprus are often more affordable. This affects overall housing and rental costs.
- Cyprus has abundant agricultural resources, which contributes to the availability of fresh and natural produce. This reduces food costs compared to regions where food can be more expensive.
- Cyprus provides affordable education and healthcare, which reduces the burden on the budget of families and individuals.
- Cultural differences and lifestyles also affect spending levels. In some cases, a less formalized lifestyle in Cyprus may be accompanied by less spending on entertainment and everyday expenses.
- Cyprus has a favorable climate which reduces the cost of heating and cooling homes compared to regions that require constant indoor temperatures.
- In some cases, despite relatively low living costs, wage levels in Cyprus may also be lower, which is reflected in the overall expenditure of the population.
Potential for renting
Villas in Cyprus, especially in the tourist areas, have a high rental potential. This opens up additional opportunities to generate income from your property.
Property in Cyprus guarantees a regular income in case of successful leasing. Besides, real estate is constantly growing in price making it possible to earn significant money on future resale. Project returns in Cyprus vary from 6 to 8.5% annually based on the kind of property and area.
Conclusion
Buying a villa in Cyprus becomes not only a symbol of a luxury holiday, but also a strategic investment move. With unique advantages such as nature, history and economic potential, Cyprus is becoming an attractive destination for those looking for not just a home, but a secure investment. Go to the website Cyprus-Real.Estate to select the suitable housing in the desired location. The exceptional variety of premium-quality villas in popular destinations is available for sale through the well-known aggregator.