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You can find a residence to rent or purchase by searching through the specialist
press (Greek-language and English-language) and websites. Estate agents are also
a good source.
There is a general upward trend in the prices of houses and apartments for
purchase and rent. Rentals and purchase prices vary for many reasons, such as
region, district, distance from an urban centre, building index, etc. Before
choosing to buy or rent, it is a good idea to research prices and to think where
it is in your interest to live and about transport and other factors that are
relevant to your circumstances.
In recent years there has been a big demand for residences by foreign
investors and by Europeans who want to settle in Cyprus. Indicatively, the
purchase price of an apartment ranges from €1,300 to €2,000 per square metre
(m²), the cost of building a house is about €880 per m² and sites cost from
€100,000 to €320,000. The rental for an unfurnished relatively new apartment
ranges from €6 to €12 per m². Electricity, water and air-conditioning costs
are not included in the rental and should be considered in any calculation.
If you need to borrow money to buy a residence, contact the commercial banks
to discuss loan terms. Information (and details of commercial banks) can be
obtained from the website of the Central Bank of Cyprus. The usual loan period
for a residence is 20 to 25 years. The loan may be for 70% or more of the real
estate value.
- Information about estate agents in Cyprus can be obtained from the Cyprus
Association of Estate Agent Entrepreneurs by phoning +357 22 88 97 59 or by email.
- And also from the Estate Agent Registration Council by phoning +357 22 66
63 77.
Text last edited on: 12/2007
Source: European Union
© European Communities, 1995-2008
Reproduction is authorised.
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