You might think that it is not hard to buy a property in Cyprus, as there are new developments and apartment blocks every year, as well as Cyprus villas. Development of land, building of new resorts and villas is very common in Cyprus indeed, and most of Cyprus properties are under 5 years old. Many independent investors have already discovered the opportunities in developing hew Cyprus holiday homes, and finance can be obtained easily. New blocks are getting built every month, and there is a large demand for newly build Cyprus apartments. But if you are also thinking about buying a property, you should consider the location, quality of building and the costs involved. Everyone has different requirements; if you have kids, you should be looking for an area with parks and open spaces, however if you are looking to retire in Cyprus, you will look for a low maintenance property. But the area is very important when you are buying an apartment in Cyprus.
You can buy a smaller apartment in a block of flats, and this is a budget friendly solution. You should look at the size of the block; there shouldn’t be more than 15 flats. That way you can ensure that your privacy is secured and you will not have to put up with too many noisy neighbours. If you are thinking about buying flats in Cyprus, you should avoid the ones housing a shop or commercial unit on the ground floor. It can cause noise and nuisance. Kebab houses, bars and pubs are the most dangerous units you can have under your home, and this can ruin your whole holiday season. If there are some empty shops, ask around about the owner or if it has been sold already. If you still like the flat and there are shops on the ground floor, you should avoid a first floor flat, and try being as far away as possible.
If you are thinking ahead and are wondering which type of Cyprus property will get you the best return for your money, you should look at larger apartments. One bedroom studio flats are hard to sell, and to rent as well. The best money making properties in Cyprus are the 2 to 4 bedroom modern, newly built apartments with hi-tech fixtures and excellent finish. There will always be a demand for these quality Cyprus properties. The apartment should ideally be between 70 and 130 square meters. If you are looking to rent out Cyprus property, you can also buy a cheap 1 bedroom flat in a resort area, and get your investment returned fast. Later on you can still buy a larger Cyprus apartment to suit your needs.