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How to rent or buy a villa in Cyprus

How to rent or buy a villa in Cyprus

A house near the sea in a picturesque location close to the city is an excellent choice. You will find many such properties in Cyprus. An island in the eastern Mediterranean, Cyprus offers a warm and sunny climate, hills, forests, beautiful beaches, diving, snorkeling, a rich history and culture, great foods, and many UNESCO Heritage sites. The island European standard of living. The Cypriots themselves consider their homeland a paradise on earth!

Many people want to come to Cyprus, either on a vacation or even to stay here long-term. A villa in Cyprus is always the best choice for luxury and comfort. Luckily, there are many beautiful holiday villas in Cyprus along the coastline. You will just have to decide on the location, the kind of housing you need, and the price.

Renting an Affordable Villa
Many villas in Cyprus are affordable. However, there are several factors to consider if you are thinking of renting the entire house at an affordable price.

Villa area. Consider the size. A house with a total area of 100 square meters, but with several bedrooms, won’t cost a lot of money. It would be a good choice for small families.

Villas on the third line. These villas are close to the sea but not directly facing the Mediterranean. They will be significantly cheaper than the houses on the first and second lines. Distance from the sea is always an important factor. Staying in such a villa is good for another reason. You will always be away from the crowds. Cyprus attracts a lot of tourists so the popular locations can get crowded. However, you can still reach the places you want to visit by car quickly.

Rent without intermediaries. Many people make the mistake of renting through a real estate agency. You will always end up paying more. However, this is not recommended for those who have just arrived on the island. It is best to first get a good understanding of the Cyprus realty market and the prices. So it is better for these people to work with a specialist.

You have to pay the rent to the villa owner once a month or several months in advance. Also, it is absolutely essential to draw up an agreement, where everything should be clearly mentioned in detail. If you don’t speak the language well (Greek or English), then contact a company that has been doing such transactions for several years.

Villa Rental Price
The villa rental price varies depending on the length of your contract. For instance, if you are renting for vacation, then the cost will be calculated daily. It will also include the cleaning costs. A small villa beside the sea may cost you 60 euros a day in the off-season. But the same property will cost one and a half to two times more during the peak season. The price is cheaper in the hills.

Long-term rent, of course, will be significantly more economical. The monthly rental price will be around 800-1000 euros. But this does not include utility costs. You will have to clean the premises yourself.

Buying an Affordable Villa
Most people buy real estate in Cyprus for two reasons. For taking up permanent residence and to get Cypriot citizenship.

Remember, to get a residence permit (it is called a pink slip in Cyprus), the house purchase price should not be less than 300 thousand euros. You can even take a loan for the purchase. The mortgage rate in Cyprus rarely exceeds 4% per annum.

Buying a villa in Cyprus can also be very profitable.

● You can rent out the property long-term or during the tourist season
● You can sell in a few years’ time for a profit

Property prices in Cyprus are always rising so you can be sure of selling at a premium.

You can buy a villa in Cyprus at an affordable price. For example, look for a villa away from the sea in a mountain village. The interiors of the island are extremely beautiful. Such a villa would be best for quiet family life. You will still live close to the city and beach area. Even the most remote villages in Cyprus are just 30 kilometers from the island’s large cities. So you can be there in about 20 minutes.

A village villa will cost significantly less than one closer to the sea. For example, for the same 300 thousand euros, you will be able to buy a house that is a lot bigger. To compare, in Limassol, with this money, you can buy only a 3-room apartment.

Luxury Villas in Cyprus
You can get Cypriot citizenship by purchasing a luxury villa in Cyprus.

Many people also buy to spend a peaceful and relaxing time by the sea or up in the hills, surrounded by nature. The luxury real estate market in Cyprus is seeing unprecedented growth. There are many luxury villas and apartments in various parts of the island. The houses already have everything you need – modern comforts, garden, lawn, pool, terrace with views, barbecue area, utility rooms, etc. You will also find houses close to golf course, tennis courts, and spas.

Star Villa – Luxury Villa For Rent In Paphos

Star is a stately Cyprus villa for rent on the southwest coast of the island. It is close to the city of Paphos. The villa has 3 bedrooms that can accommodate up to 7 people, including children. It has central air conditioning, a private pool, Jacuzzi, sunbathing deck, well-equipped kitchen, a 2000 square meter private garden with olive and citrus trees, and terraces with views. You get all the amenities for a luxurious Mediterranean island getaway.

A seaside villa on rent is a good option for vacation. You will have the entire villa for you and your group. The price will also include full service, which includes cleaning, chef, security, gardening, and other staff members who will come daily.

What is the rental price of a luxury villa in Cyprus? It all depends on the location, size, and the amenities. Seaside villas in a resort area like Protaras is around 200 euros per day from October to April. This price is inclusive. Between May and September, the price rises to 250-270 euros per day. in August, it can be 300 euros and more. These are usually two-storied buildings with a swimming pool and a small adjacent territory.

The cost will be double or even triple if the villa offers its own access to the sea.

Which Region Should You Choose?
Real estate on the island costs the most in Paphos and Limassol.

The rental and purchase prices here usually cost more by 30-50% from other places. Real estate costs more also in Ayia Napa. Rental prices of villas are very high in the peak tourist season (May to September). But Ayia Napa is also very popular with tourists so it may make sense to pay a bit more to stay here.

Limassol is the business center of Cyprus. That’s why many people, especially those who work in Cyprus or have their own business take up permanent residence in the city. Paphos is the “western capital”. EU tourists like to spend their winter vacation here under the sun. An estimated 17,000 Britons live on the west coast of Cyprus in the winter. They either own a house here or rent villas.

The property prices are low in Larnaca. Tourism is in full swing only during the season. Rest of the time the city is quiet. Those who want a villa at a low price and people who don’t like crowds may consider Larnaca.

Northern Cyprus also has low property prices. Life is serene and peaceful here. However, the everyday prices are a little more expensive than the south. You may think of living here in the winter and renting out your apartment or villa for the summer months.

Rent or Purchase Procedure
You can buy or rent a villa in Cyprus. But it won’t be easy for you if you haven’t spent time on the island or don’t know about the right procedures. It is best to work with a specialist who knows about the laws and procedures.

● Foreigners can register a property in Cyprus.
● Permission required to buy the property from the Council of Ministers.
● You have to pay a deposit of about £2,500 to reserve the property once you have found the home you want to purchase.
● A contract will then be drawn up.
● You must pay 10% of the agreed price on signing the contract.
● Only citizens of EU countries can rent out their villas.
● There will several fees towards stamp duty, VAT, surveyor’s fees, etc.

Your Next Covid Trip
A lot of things have been greatly affected by the Covid pandemic. Luckily, airline companies and airports were quick to adapt to these changes to ensure safe travels for the passengers and staff onboard. Still, purchasing holiday covid insurance is a must nowadays to travel with confidence. In case you contacted Covid-219 within 14 days of your trip start date, or during the trip, you have got covered. If you need emergency medical treatment or hospitalisation while you arrive in Cyprus, the Emergency team Assistance team will provide you guidance, liaise with local doctors, cover expenses and even arrange a medical repatriation home if needed.

Additionally, medical needs and other emergencies that are not COVID-related are still covered by your insurance. If there is a need for you to cancel your trip or to go to a hospital for your other medical concerns, the 24-hour Medical Assistance still has you covered. As long as your concerns are in line with the Government’s restrictions, you can count on your travel insurance to assist you in times of emergencies.

Testing Formalities for Visiting Cyprus
Those arriving with the wrong test will be fined 300 Euros at the airport. They will also be sent back promptly. The health ministry has confirmed that the country is opening up and inviting tourists, but only after taking all necessary precautions.

The health ministry also confirmed that all test certificates need to include the full name, date when the sample was taken, and a confirmed negative result. The type of testing (RT-PCR Covid-19) must also be clearly mentioned in the report.