Pros of investing in commercial property abroad

Geography, climate, economy, property and infrastructure are the five anchors that consistently keep Cyprus on the list of the best cities for high quality of life. Architecture is another advantage, for it is a palette of Roman heritage, British urbanism and Mediterranean relaxation. Demand for property is on the rise: in the last three years, Cyprus’ residential transactions have increased by 26% and residential investment by 34%.

In the article we will tell you about the most attractive cities of the country where you can live comfortably.

Limassol – financial motor and comfort all year round

Limassol is leading the way as the most balanced city. It is home to European schools, offices of international companies and business incubators and forms the core of the Republic’s business activity.

The central district of Agios Nikolaos offers premium apartments with access to yacht marinas. At Limassol Marina, a square metre costs from €4,800. The districts of Pantheia and Germasoya form a more affordable middle segment.

The climate is stably warm: winter – about +15, summer – +30, humidity – no higher than 65%. The best cities in Cyprus for living are always based on the climate as a basic criterion, and in this aspect Limassol is the leader.

Paphos is one of the best towns in Cyprus to live in

Paphos plays by the rules of visuals and aesthetes. UNESCO archaeological sites, upland villas, premium developments in the west of the city. The highest density of luxury housing outside the capital. The districts of Peyia and Tala offer private residences from €400,000.

The city is listed as one of Europe’s cultural centres, investing in tourism and expanding port infrastructure. The beaches are Blue Flag certified and there are 320 days of sunshine a year.

Cyprus property prices are rising slowly but steadily: +4% in the last 12 months. Paphos is one of the best cities. For those who appreciate the balance between privacy and everyday life.

Larnaca – a strategic hub and an affordable alternative

Larnaca becomes a new player in the ranking of ‘best cities in Cyprus to live in’ thanks to infrastructural investments. The airport with international traffic, the rapidly developing Larnaka New Marina area, a €1.2bn project.

The property market is active: the cost of housing in the area of Drosia – from € 2,000 per square, in the tourist area of McKenzie – from € 3,200. The area is convenient for families, with a compact town structure, schools, parks and proximity to the beaches.

Larnaca offers a quieter but no less fulfilling lifestyle. User reviews point to the combination of quality service and moderate prices: coffee in the centre – €2, lunch – €10-12.

Nicosia – the capital and a mosaic of cultures

Nicosia is the only city in Europe with a divided capital. The southern part belongs to the Republic of Cyprus. The northern part is controlled by the unrecognised Northern Cyprus. This geopolitical peculiarity makes Nicosia not only a symbol, but also a place of contrasts.

The capital is actively developing the IT-cluster. There are programmes to support start-ups here. Housing rent is lower than in Limassol – from €650 for a one-room flat. Investors choose the resort to buy commercial property – 12% annual yield on new projects in the Strovolos area.

The best cities in Cyprus to live in include Nicosia as a centre for education and career opportunities. The climate is more continental – up to +38 in summer and around +10 in winter.

Ayia Napa – a resort in the style of “eternal summer”

Ayia Napa is a paradise for the tourist sector and rentals. The average hotel occupancy rate is 88% in summer, 60% in spring. It is a magnet for short term rental investments. Apartments near Nissi Beach rent for €100-150 per day.

The local authorities are developing a year-round resort: they are building indoor water parks, sports centres, developing gastronomic infrastructure. Out of season, the resort remains cosy: cafes are open, rent drops to €700 per month for a 2-bedroom flat.

Ayia Napa will suit those who consider the best cities in Cyprus for living from the point of view of short-term profit and holidays.

Northern Cyprus: an alternative outside the EU

It remains a territory with a special status. Despite the political non-recognition, the flow of buyers is steadily increasing, mainly due to low prices and flexible conditions for transactions. A square metre here costs from €1,000 in the areas of Famagusta and Kyrenia. Rental income – up to 9% per annum. Investors choose this region as a starting point for portfolio investments.

Living here is different from the rest of the Republic – less bureaucracy, lower taxes, more flexible market. The temperature in January rarely drops below +12, in summer it stays around +33. The best cities in Cyprus for living are often considered in a bundle. The main housing is in the Republic, investment housing – in the northern part of the island.

The best cities in Cyprus to live in: summarised in facts and figures

Cyprus is an island of opportunity, with each resort offering a different lifestyle. From high-end businesses to secluded holidays by the sea. Here you can find the perfect place to suit your goals. When choosing a city, it is important to consider not only the cost of living, but also the infrastructure, career prospects, level of service and atmosphere.

The choice depends on your priorities: business – Limassol, culture – Paphos, budget – Larnaca, career – Nicosia, rent – Ayia Napa.

Advantages of the resorts:

1. Limassol: headquarters of international companies, international schools, premium housing, business infrastructure.
2. Paphos: UNESCO heritage, luxury villas, developed tourism, silence and comfort.
3. Larnaca: international airport, democratic prices, proximity to the sea, active development.
4. Nicosia: business centre, affordable housing, strong IT sector, metropolitan status.
5. Ayia Napa: ideal for rent, resort life, developed infrastructure for holidays.

Each of these cities offers different price levels, rhythm of life and growth prospects. The right choice will not only help you improve your quality of life, but also create a base for professional and personal development. The resort remains one of the most balanced relocation destinations in Europe.

Conclusion

Cyprus maintains stable conditions for obtaining a residence permit through investment. The minimum threshold is from €300,000 in property. The demand for housing remains high: the demand for secondary housing increased by 12%, for new buildings – by 18%. Beaches and the sea remain arguments. The best towns in Cyprus for living retain access to coastal areas. The Republic guarantees security, economic stability and Europeanised law.

Sunny Cyprus attracts Russians with its mild climate, high level of security and the opportunity to enjoy the Mediterranean lifestyle. Like everywhere else, staying on the island has its own peculiarities, advantages and disadvantages. What awaits those who are planning to move? Let’s answer in the article.

The advantages of living in Cyprus

The island has a number of unique characteristics that make it attractive to Russian emigrants:

1. Mediterranean climate – over 300 days of sunshine a year. Winters are mild, with temperatures rarely dropping below +10°C. Summer lasts almost half the year, with comfortable temperatures ranging from +28°C to +35°C. This weather is conducive to active holidays, outdoor activities and better health.
2. Cyprus is considered one of the safest places in Europe. The crime rate is minimal and the locals are known for their friendliness and openness. Russian emigrants note the calm atmosphere in Cyprus, which is ideal for life with children.
3. The island offers one of the most attractive tax systems in Europe. For entrepreneurs and business owners, the corporate tax rate is only 12.5%. In addition, there is an agreement between Russia and Cyprus on the prevention of double taxation, which simplifies financial matters.
4. Russian-speaking communities are actively developing here. Russian schools, business centres, shops and restaurants are open in Limassol and Paphos, making adaptation easier and helping to maintain a connection with the native culture.

Disadvantages of living in Cyprus

Despite the many pluses, living on the island has its challenges that you should consider before moving:

1. The rents, especially in the larger cities such as Limassol and Nicosia, are quite high. The average cost of a studio flat in the centre is €1,000-1,500 per month, while prices for buying property start from €200,000.
2. The economy is centred on tourism, financial services and construction. For professionals from other fields, jobs are more difficult to find, especially without knowledge of English or Greek.
3. Most goods are imported, which affects prices. Food, clothes and electronics are more expensive than in Russia or Eastern European countries.
4. In July and August, temperatures on the island can exceed +40°C, making it difficult for people used to cooler climates.

Property market: features and prices

Life in Cyprus begins with choosing the right accommodation. Property on the island offers many options, from affordable flats to luxury villas with sea views. For Russian emigrants, it is important to understand how prices are formed and which regions are best suited for buying or renting:

1. Limassol. One of the most expensive and prestigious cities in the state. The average cost of renting a flat is 1000-1500 euros per month. Buying a property will cost 2000-3000 euros per square metre. Limassol is characterised by developed infrastructure, a large number of Russian-speaking residents and high demand in the rental market.
2. Paphos. A more affordable city compared to Limassol. Renting a flat here starts from 700 euros per month. Buying a property – 1500-2000 euros per square metre. Paphos is famous for its historical sights and peaceful atmosphere, which makes it popular with families.
3. Nicosia. The capital offers accommodation at similar prices to Paphos, but with a higher demand for rentals. This is due to the availability of a large number of jobs and educational institutions.

Living in Cyprus can be not only comfortable but also profitable. Many people buy accommodation on the island to invest their money. Renting it out brings a steady income, especially in the tourist areas. For example, in Limassol, the yield from renting out property can reach 5-7% per annum.

Working in Cyprus: prospects for emigrants

Living in Cyprus offers a wealth of employment opportunities, but the island’s economy has its own peculiarities that are important to consider. The main sectors offering jobs are tourism, construction and financial services. The tourism sector is one of the leading areas of the economy, where professionals in the hotel business, restaurant industry and excursion services are in demand. Knowledge of English significantly increases the chances of successful employment in this field.

The construction sector also remains key to the country’s economy. Engineers, architects and master finishers are in demand due to the constant development of infrastructure and construction of residential complexes. In turn, the IT and finance sectors are actively developing, attracting specialists from different countries. Programmers, analysts and cryptocurrency experts can expect high salaries – on average from 2500 to 4000 euros per month.

For a successful job search, it is recommended to make sure you have a work visa or work permit in advance. Local job sites such as Cyprus Jobs and EURES can help you find suitable offers, while internships or temporary employment are a great start to adapt to the labour market.

Health and education in Cyprus

The high standard of healthcare and the variety of educational programmes make life in Cyprus comfortable for families and those who want to become professionals in sought-after fields.

The medical system in Cyprus offers a wide range of public and private clinics. Public medicine operates through the GeSY system, which provides access to free or low-cost services. Residents with a medical card can expect quality care including diagnosis, therapy and basic treatment. Many emigrants prefer private clinics due to their personalised approach, absence of queues and high speed of service provision. Such insurance costs from 1200 euros per year and covers a significant part of the costs.

The educational system of the island includes public schools, where education is conducted in Greek, and international institutions with programmes in English. The latter are especially popular among Russian families, as they help children to adapt easily and receive an education that meets international standards. The cost of education in international schools ranges from 8000 to 15000 euros per year. Higher education in the country is also available for emigrants. Limassol and Nicosia Universities offer courses in English, and tuition fees start at €3,000 per year.

Legalisation process

In order to start a fulfilling life in Cyprus, it is important to get the paperwork right. The main steps are:

1. A tourist visa is issued for the first visit to the island.
2. A temporary residence permit (TPR) is obtained on the basis of a property purchase, employment or investment.
3. A permanent residence permit is issued after several years of residence.

The following documents are required to apply for a residence permit:

1. Passport.
2. Proof of financial solvency.
3. Health insurance.
4. A criminal record certificate.

Conclusion

Living in Cyprus opens up prospects for comfortable living, professional growth and profitable investments. Having assessed all the pros and cons, everyone will be able to find a home on this sunny island. It is only important to prepare in advance for all aspects of the move to make the process as convenient and successful as possible.