HISTORY OF BUYING PROPERTY IN CYPRUS

A firm favourite as a tourist destination following the partition of Cyprus in 1974, the island soon attracted second home purchasers.  When it was announced that the country was to join the European Union, the flow of purchasers turned into a flood and property prices rose. Since its accession, the cost of buying property in Cyprus has steadied and finding the ‘bargains’ of yesteryear is more difficult.  A Paphos property bought for £50,000 10 years ago would now be on the market for around £130,000.  However, it remains one of the most popular destinations for the UK and Irish – an island where they truly feel at home.

Buying a property in Cyprus today

You will find that prices vary according to location.  Properties with sea or mountain views or situated on prime golf developments as well as those around the highly popular resort of area of Paphos command a premium.  On average however, you can expect to pay from £71,000 for a one bedroom apartment with communal pool, overlooking the coast near Paphos; from £105,000 for a modern, two bedroom apartment conveniently located in the centre of Larnaca; and around £260,000 for a three bedroom villa on a prestigious golf course 10 minutes’ from Paphos.  Whatever your choice of area and whatever your budget, you can rest assured that Prime Overseas Property is committed to helping you find the best property at the best price.

(All calculations are for illustrative purposes only.  Please check our property details for up-to-date prices and specifications.)