Land plots in Cyprus
Not only citizens of the country but also overseas nationals can buy land plots in Cyprus for investment and construction. There is a limit on land area foreigners may buy, which is 4,000 m². However, if you want to buy a piece of a larger size, you can register it in the names of several members of your family or set up a business and acquire real estate in its name.
It is important to note that there are differences between just land and a plot in the country. The latter is a designated area ready for construction. The buyer of such a property receives a title deed, which contains the main parameters (area, height, number of stories) of the building they are allowed to construct.
If you want to build a villa in Cyprus, it is worth picking a location in a well-developed neighbourhood, where the necessary utility lines run along the border of the plot, and there are shops, schools, and other infrastructure facilities nearby. If you want to buy land in Cyprus for construction of a rental property, you should choose areas close to beaches, restaurants, shops, and attractions in resort cities such as Limassol, Larnaca, and Paphos.
Besides the construction of residential real estate, plots may have other purposes:
- Farming;
- Commercial use;
- Creation of entertainment facilities.
As a rule, commercial land (factories, hotels, business centres) is on the outskirts of cities. Foreign nationals cannot own it. Instead, they can only purchase the right to long-term lease for 49 years, which is extendable.
Land plots prices in Cyprus
The cost of development land for sale in Cyprus is influenced by 2 key factors: location and type of use. Plots intended for residential construction are valued the most. The most expensive of them are located in resort regions near beaches and promenades.
For example, a 1,649 m² residential plot, located in Paphos, far from the seacoast, costs €65,000.
In the village of Deryneia, 2 km from the city of Famagusta and a 15-minute drive from the seacoast, a 531 m² plot is priced at €93,000. It is ideal for a residential building.
On the seashore in the village of Pissouri near Limassol, a 102,265 m² building plot costs €28 million. It will appeal to large investors interested in constructing rental property in Cyprus.
Land plots in Cyprus for investment
Investing in land in Cyprus is profitable, since the island is a popular resort region where real estate has high liquidity and is in demand among tenants. Purchasing land and constructing a residential building will save up to 30% compared to acquiring a ready-made property. Moreover, the house you build will be tailored to your preferences.
You can make money by renting out completed housing and receiving annual passive income. The average return on rental houses and apartments in Cyprus is 5% per annum.
For large investors, a good option would be to buy land plots in Cyprus to build a hotel complex or start a farming enterprise.
Investing comes with another perk: if you purchase real estate worth €300,000 or more, you may apply for a permanent residence permit. After 7 years of residence in the country, you can obtain citizenship.
Buying land plots in Cyprus
In our catalogue, you will find current listings of land in different cities and villages in the island nation. You can conveniently sort properties by area, price, location, and availability of utilities (gas, water, electricity).
To easier navigate the local market, you can set prices in euros and dollars in listings. We regularly update our catalogue, so you will always keep abreast of new offers. Start choosing the best plot option for your future purchase today.