Unsurprisingly, over one million people go on holiday to Cyprus each year. The island’s beautiful beaches, laid back lifestyle and low crime rate are so attractive that some 65,000 British people have actually upped sticks and moved there permanently. But where to buy?
Cyprus property sales are generally concentrated in the major resorts in and around favourites like Paphos, Larnaca and Limassol where foreign buyers are snapping up affordable dream homes in the sun. While mortgages can still be hard to come by, property prices remain so low that cash buyers can often find very lucrative deals in stunning locations.
You may look to invest in a buy-to-let property in one of the popular resorts, making your holiday home largely dependent upon the strength of the local tourist market. Get it right and your property in Cyprus could pay for itself should you choose to rent it out when you are not there yourself. Alternatively, you may prefer to seek out a quieter, sleepier location to retreat to. Perhaps one that’s undiscovered by the crowds, yet within reasonable reach of tourist amenities.
If you are still thinking of buying a holiday home in Cyprus, here’s a list of some of the island’s most popular property buying areas plus an idea of prices:
Paphos probably needs no introduction as one of the most popular resorts in Cyprus. It is a town situated on the southwest coast, offering breath-taking sea views and spectacular beaches. The town’s rich history means that property here is varied enough to cater for all tastes from modern, whitewashed villas and apartments to more traditional homes. Paphos has an attractive harbour, lined with colourful fishing boats and restaurants and its magnificent history, culture and architecture make it a great all-round holiday destination.
Popular neighbourhoods around Paphos which could be well worth investigating:
- Kato Paphos – set around a medieval port
- Peyia – nestling just outside Paphos, this village offers a wide choice of affordable properties
- Tala – a village ideal for the authentic Cypriot experience. Prices here are a little higher due to less supply
- Aphrodite Hills – a golf and equestrian five-star resort, which includes a spa and tennis academy
- Coral Bay – which boasts magnificent Blue Flag beaches in recognition of their cleanliness
Limassol is Cyprus’ second biggest city after Nicosia and famed for its wine making industry. On top of its beaches, it is also ideal for top-class shopping and cosmopolitan restaurants at its world-class integrated marina complex. The city sits on the south coast, giving plenty of opportunities to pick up stunning seafront properties ranging from luxury villas with pools to town houses and more modest apartments. Limassol has become popular with the Russian market which has pushed prices up somewhat when compared with other areas in and around Paphos.
Here, on the east coast, you’ll find golden beaches which are arguably some of the finest on the island. Ayia Napa is a lively resort which attracts thousands of foreign tourists each year with Nissi Beach being one of the most popular amongst the young, thanks to its lively night scene in addition to its water sports, foam parties and other beach game activities. Your holiday home should have a ready market of holiday rentals should you wish to rent it out when you are not there living it up yourself.
Larnaca is ideally located on the west coast, near Larnaca International Airport, so getting to your property in Cyprus couldn’t be easier. The oldest city in Cyprus, Larnaca is well served for modern tourism and a major seaside resort with some 25 kilometres of beautiful beaches stretching from the city. Holiday homes in Larnaca are ideal for beach lovers – the main attractions being Phinikoudes and McKenzie, both of which have been awarded Blue Flags – and the city itself offers a huge variety of restaurants, bars and cafes to keep you entertained.
Nearby Paralimni sits slightly inland in south eastern Cyprus and is a small unspoilt gem with three churches. The picturesque windmills surrounding the village are used to draw water for irrigation. Beach lovers will be glad to know that Paralimni lies within easy reach of several white sandy beaches and tourist facilities that make it popular for shopping, restaurants and night life.
If you’re bought in, or all ready to go, make sure you’ve explored your holiday home insurance options.