How far will the typical budget of €300,000 (£260k) go in Cyprus?

How far will the typical budget of €300,000 (£260k) go in Cyprus?

Cyprus is riding high with home hunters looking to spend the winter (or all year) in a sunny, slower-paced location.

At A Place in the Sun, it’s now in the top three most searched-for locations. The combination of a tax-friendly, Anglo-friendly and affordable place to live is attracting those looking to improve their quality of life (and also conserve some of their hard-earned savings or pension income).

If you’re not looking to work but like the idea of tiny council tax bills and a 5% tax rate on your pension income, then you’re not alone.

The average property enquiry is £264,820 (€305,000), but how far does that go? Rounding that up to €300,000 (£260,000), we’ve saved you some legwork with examples in popular areas.

Cyprus

Paphos area picks

For aplaceinthesun.com, Paphos remains the most popular location. You can find a three-bedroom villa for this budget, or a wide selection of two-bedroom townhouses and apartments.

A centrally located three-bedroom villa in Paphos can cost around €275,000 - but be aware that you won’t get a private swimming pool with this. There are also options in Tsada.

You can find a wide choice of two-bedroom, two-bathroom modern apartments on large complexes with shared swimming pools, just a five-minute drive from the beach. Expect to pay around €285,000, such as in Yeroskipou, which is popular for its lively square and proximity to Paphos.

In the prestigious five-star resort of Aphrodite Hills, the location comes at a cost, so this budget will only stretch to a one-bedroom apartment. But areas such as Coral Bay, Peyia and Kato Paphos are in demand as your money goes further.

For example, you can find a two-bedroom, two-bathroom apartment 300 metres from the sea for around €265,000.

Peyia is a firm favourite with house hunters thanks to its small-town feel and proximity to the beach at Coral Bay - a family-friendly sandy beach with excellent amenities.

The area also offers a broad range of property options, from €130,000 through to €4 million. A three-bedroom apartment on a residential complex with a shared pool can cost around €265,000, while new three-bedroom townhouses are available just under €300,000.

Cyprus

Eastern promise?

Your money can go just as far - sometimes even further - in the southeast of Cyprus, around the popular Famagusta/Protaras area. It’s widely accepted that this region boasts the best beaches in Cyprus, particularly Fig Tree Bay and Nissi Beach.

New-builds command a premium, but you can find three-bedroom villas for €300,000 in areas like Sotira, Dherynia and Xylophagou.

For example, a new-build three-bedroom villa in the red-clay village of Xylofagou - popular with expats for its peaceful, year-round community - is available for €295,000 (a swimming pool costs extra).

Alternatively, a luxury new two-bedroom, two-bathroom apartment in another popular area - Kapparis - within a community featuring three shared swimming pools, is available for a similar price.

Paralimni is also a highly popular area, though typically a little more expensive. However, you can still find a contemporary-styled two-bedroom, two-bathroom apartment for under €300,000.

Prefer something second-hand? You can find a two-bedroom detached link villa with a private pool for around €250,000 in those inland villages - or even a three-bedroom villa with a private pool for around €300,000.

If you look carefully, you could even find a four-bedroom property (no pool, but space to add one) in Xylofagou for less than €300,000.

Start your property search in Cyprus

Ready to see what’s out there? From modern apartments in Paphos to detached villas in Famagusta and hidden gems inland, Cyprus offers a wide range of properties to suit every lifestyle and budget.

VIEW PROPERTY FOR SALE IN CYPRUS 

 

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