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Purchasing a home in Cyprus

How to Purchase Property in Cyprus: A Step-by-Step Guide

It is feasible to buy a property in Cyprus in six months with careful planning, so you may be able to move into your dream home sooner than you expect. We’ve created a timeline to assist you in staying on track for the big relocation. Setting a fixed end goal, such as the day you want to relocate, and then working backwards from there is a good idea.

There are six months left

To obtain an idea of what to look for, consider why you want to move, where you want to go, and what style of home you want to buy.

Begin assembling a team of property experts to assist you with your relocation, including a lawyer, estate agent, currency specialist, and financial consultant.

Make a budget based on your financial situation.

With only five months left

Begin your thorough search for a property.

Open a bank account in Cyprus.

Consider how you’ll structure your finances for any transaction and, if necessary, consult your lawyer and financial consultant.

With only four months left

Talk to your real estate agent about your alternatives and start planning a viewing trip.

Meet with your team to ensure that all aspects of your property purchase are on track. Discuss your deposit and legal structure with your lawyer and a currency specialist.

There are three months left

Begin meeting with professionals who can assist you with the most difficult aspects of your move, such as inheritance laws and property taxes, as well as removals.

Continue to go on viewing trips; don’t feel obligated to buy on your first trip; it may take two or three to find the perfect property.

Once you’ve located the home of your dreams, make an offer.

To lock in a single exchange rate, talk to your currency specialist about using a forward contract.

Get your home surveyed if necessary to identify any problems.

There are only two months left

If necessary, sign your reservation contract to have the property removed from the market.

To lock in a deposit amount and begin payment, sign a deposit contract.

While you wait for the deal to go through, finish any decorations and make sure all utilities are turned on.

Sign the contract and make your final payment.

Take possession of your keys and settle in—welcome to your new home in Cyprus!

What should you think about before buying a property in Cyprus?

There’s a lot to consider before buying a home in Cyprus, so take some time to consider your objectives as well as significant issues like where you’ll buy and what kind of property you desire.

Consider the following:

Your goals and dreams may alter as the process progresses, but organizing your early ideas is a good place to start. These are the five basic questions you should ask yourself.

Why are you buying this purchase?

So, you’ve decided to purchase a property in Cyprus, but why? Analyzing and articulating your thoughts might assist you in being more motivated and directed. Begin by jotting down your thoughts.

Some instances are as follows:

“We want more space, more sun, and warmer weather.”

“In Cyprus, our pension will stretch further.”

“I want a place where I can spend special holidays with my family and friends.”

“Now that the kids have moved out, we’re looking for a new adventure.”

“Investing in real estate in Cyprus has a lot of potential.”

“I never want to look back on my life and regret not making the change.”

What will you do with it?

This is essential if you want to get the most out of your property. What are your plans for it? Long weekends, three weeks throughout the summer, for investment, relocation, vacations, and then retirement? Be truthful to yourself. If you don’t anticipate you’ll be nipping down for weekends, staying further away from the airport will save you money. Why care about rental or investment potential if you don’t want other people to use it and don’t need the money?

What are the essential features of your Cypriot home?

What are your must-haves and deal-breakers? Do you require a certain number of bedrooms or bathrooms? Is a pool absolutely necessary, or would a local beach suffice? Is there any outside space available? Is it critical that you be able to walk to a nearby cafe or bar? And what features would you like to see in your Cypriot home? What characteristics would make it ideal for you? Are you looking for a terrace, a garden, or a swimming pool?

What do you not require?

It’s good to be upbeat, but concentrating on what we can’t tolerate may be freeing as well! Wouldn’t it be a pain to have to rent a car every time you visit Cyprus? Do you prefer your own swimming pool than a sandy beach? Are you concerned that you’ll be responsible for all pool cleaning and cooking? Would you find the constant presence of tourists on your doorstep during the summer bothersome? Now is the time to declare it clearly and forcefully. You want to adore this house, so write down what will keep you from doing so, and then see if your partner or spouse shares your sentiments!

How much money do you have?

There may be methods to raise more funds or even split the expenditures, but start with a reasonable budget. After all, knowing how much you can spend up front will help you to look for homes in Cyprus without pricing yourself out afterwards. It’s also important to keep in mind that you should set aside at least 10% extra for buying expenditures.

Furthermore, you should consider the fact that you will not receive the “interbank” rate promoted by banks and in publications while making financial plans. Rather, you should budget for an exchange rate that is at least a percentage point higher or lower than the current rate.

Where will you buy in Cyprus’s top neighborhoods?

Cyprus offers to a wide range of tastes, allowing you to discover the ideal spot for retirement, a vacation house, or a new job. Buying a property in a foreign country is a big decision that you’ll want to make carefully, both financially and emotionally. So, let’s take a deeper look at the various types of destinations available on this diversified island.

We’ll give you a tour of some of the island’s regions and cities, as well as some of our favorite spots if you’re seeking for anything specific.

Regions and cities





Ayia Napa

Mountains of Troödos

Peninsula of Akamas


Overseas property buyers continue to flock to Paphos to take advantage of the well-established expat population, one of the most beautiful harbors in the Mediterranean, and year-round affordable flights from the international airport. Following its tenure as a 2017 European City of Culture, the town’s infrastructure has also received major investment. Public spaces, the historic commercial center, and highways have all been upgraded for a total cost of over €26 million. This is fantastic news for property values and rental appeal.

Paphos has been divided into two sections. There is Old Paphos (or Paleo Paphos), which occupies the hill at the back of town, and Kato Paphos, which is the livelier, more touristy area concentrated around the harbour and seafront.

Kato Paphos is the major region of the resort for property owners looking for a handy, lock-up-and-leave holiday house in Cyprus that is close to the tourist action and easy to rent out. It’s well-known for being close to everything you’ll need for a fun-filled vacation, including groceries, restaurants, the beach and harbor, entertainment venues, and nightlife. Typical one-bedroom flats cost €75,000-€105,000, typical two-bedroom apartments cost €130,000-€147,000, and townhouses cost €160,000 – but that’s not to say there aren’t luxurious possibilities.

With EasyJet, you may fly to the local international airport for a low price all year. You’ll be able to enjoy one of Europe’s most stunning harbors, as well as all the social activities that living among a well-established expat community brings — amateur dramatics, walking groups, art classes, golf, horseback riding, and even rugby.

Old Paphos appeals to individuals who desire a more traditional setting while yet being accessible to utilities and tourist attractions.


Sleepier and more levantine Larnaca, with its salt lake and palm trees, could be the spot for you if you desire a more tranquil pace of life away from places swamped with expats and tourists. The average housing price in Larnaca is cheaper than in Paphos, Nicosia, and Limassol, in part because the city is more traditionally Cypriot than its contemporaries.

Despite not being as well-known as other towns, this charmingly compact city has everything most international property buyers want from a Mediterranean lifestyle: a city center beach backed by a palm-lined promenade, a mix of traditional and cosmopolitan influences, ancient monuments, and fascinating architecture. While strolling down the palm-lined promenade of its beach or taking in the ancient structures, property owners in Larnaca may ask why more purchasers don’t come here.

From €160,000, you may find charming bungalows or modest villas that are a little cheaper than elsewhere. Flats are also a little less expensive, with a two-bedroom property costing around €80,000 as a good starting point.


Limassol is the island’s second largest city, situated on the shores of Akrotiri Bay between Paphos and Larnaca on Cyprus’ southern coast. Visit this unique mix of modern buildings and relics from the island’s turbulent and ethnic past.

The old town’s winding lanes and the Old Fisherman’s Harbour, which make up the traditional historic centre, serve as a reminder of the town’s past. While state-of-the-art developments like the marina and Limassol Del Mar, a €340 million landmark development consisting of luxury apartments planned for completion in 2019, properly demonstrate its vibrant, modern alter ego.

You can choose to live an active or sedentary lifestyle. There are plenty of properly skilled water sports instructors and several gyms where you may do martial arts, maintain fit, or yoga sessions for those of you who prefer action. Secretarial, teaching, administration, accounting, and management vocations are all viable options. Work in offshore corporations, primarily in the shipping and insurance industries, is also an option.

Those who prefer a more relaxed atmosphere can go for a run along the coastline, sunbathe with a nice book, or lounge in one of the many cafes drinking a hot or cold coffee or beer. Cafes are open until late in the evening, and bars, taverns, and nightclubs are open until the wee hours of the morning. Also, keep in mind that Cyprus recently legalized casinos, and there are a slew of them opening up in Limassol right now.

Limassol has a larger selection of apartments than Larnaca. Although there are some high-rise residences with values above €3.1 million, a two-bedroom apartment in Pissouri, for example, may be had for €105,000.


The island’s capital, located 50 kilometers from the coast, is ideal for people who thrive in the rush and bustle of city life. If you buy a home here, you’ll have the Venetian walls of the interesting old town on your doorstep, as well as a contemporary cafe and bar scene, a Debenhams, and a Mark and Spencer. It’s the ideal advertisement for modern life in Cyprus, with modern apartment living dominating the local real estate market.

Museums, art galleries, and plenty of historic character may be found within the 16th-century Venetian walls of the star-shaped old town. A trip through the evocative Laiki Geitonia district will reveal small lanes packed with cafés and artist workshops.

You’ll undoubtedly also find yourself looking for the nearest Debenhams, but not only for your home-based shopping fix. Its top floor provides a spectacular panoramic view of the city and beyond the Green Line, which has divided Cyprus into Turkish north and Cypriot south since 1974.

Famagusta – Ayia Napa

The eastern vacation resort of Ayia Napa has a negative reputation due to the hedonistic excesses of certain young visitors. However, in recent years, the town has been thoroughly cleaned and is now more family-oriented. The luxury marina, for example, has 600 berths, retail outlets, and a private beach club, as well as a variety of luxury homes. The 500-meter Nissi beach and adjacent cliffs in Ayia Napa are popular with visitors and residents alike.

Property purchasers in Famagusta will be able to add rental revenue into their calculations, which is why apartments in this neighborhood are more expensive. While an investment apartment will set you back between €100,000 and €150,000, a villa should set you back between €200,000 and €250,000.

Mountains of Troödos

If you want to spend your days away from the hustle and bustle of big towns and tourist resorts, the Troödos Mountains, which rise to approximately 2000m/6500ft north of Limassol, might be the place for you. This vast swath of volcanic rock is blanketed in thick forest, giving cool, pine-scented air and peaceful settlements such as Argos, Prodromos, and Fikardou. In the winter, you can even go skiing.

Here are a few alpine hotspots to visit:

Troödos Village: At 1,750 meters above sea level, Troödos Village is only 250 meters below Mount Olympus, the island’s highest peak, and serves as a ski resort during the winter months.

Argos: The Pitsilia region’s main settlement is studded with red-roofed buildings, many of which are built on stilts, cupped by the mountains at the Agros valley’s head.

Pedoulas: Pedoulas is a little village in the Marathasa Valley north of Prodromos with a magnificent painted church and dwellings that slide down the slope in a succession of terraces.

Fikardou: The meticulously preserved village of Fikardou is a wonderful representation of a Cypriot mountain village in the eighteenth or nineteenth centuries.

Kakopetria: This village stands on the banks of the Karyotis River and offers all of the contemporary facilities, as well as a charming old town with narrow lanes and crumbling cottages.