What's is the cost of buying a property in Cyprus?
One of the most important factors for anybody thinking about purchasing a property in Cyprus is whether they can afford it and, if so, what sort of home they can afford and where they can afford it.
Foreign purchasers have always been drawn to Cyprus because of its affordable property prices in comparison to many other European countries. An apartment in Nicosia costs roughly €1660 per square meter, however the same unit in other cities such as Madrid might cost around €5300. However, current prices are considerably greater than they were previously.
Despite the rise, housing remains reasonably priced, with townhouses starting at €250,000, contemporary flats starting at roughly €150,000, and detached villas starting at around €350,000 depending on location.
Here are the average costs for flats, townhouses, and villas in the republic's several districts.
The typical price in the Paphos district is roughly €150,000 for a two-bedroom apartment, €250,000 for a townhouse, and €500,000 for a villa. However, prices for apartments, townhouses, and villas in the Aphrodite Hills development are growing faster than the rest of the island.
Apartments in Limassol cost between €120,000 and €220,000. The prices of townhouses and villas are roughly €250,000 and €400,000, respectively. It is impossible to calculate particular values for residences in settlements located in the Troodos mountains' foothills. They are still very inexpensive in comparison to the rest of the island, but many require considerable rehabilitation, which can be costly.
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