Cafes/restaurants for sale in Cyprus

Cafes and restaurants in Cyprus

Being a popular resort in Europe, Cyprus is also an excellent platform for doing business in the tourist sector. After all, tourists are ready to spend money on a comfortable stay and need the services of restaurants and cafes, hotels and entertainment centres. Therefore, the restaurant business in Cyprus is popular, especially during the beach season, which lasts from May to October.

However, the success of any business depends on many factors, including its location, target audience, and the services offered, which should be of interest to the clients that circulate in the business location.

Restaurants in Cyprus are always in demand. The largest and most luxurious ones are located in the tourist area along the waterfront. Small restaurants and cafes are densely scattered throughout the city because even Cypriots love to gather in a cosy coffee shop in the evenings and spend time with friends over a cup of traditional Cypriot coffee. You can find small cafes on almost any street – and they will always have visitors.

Reasons to start a business in Cyprus and buy a cafe or a restaurant:

• low tax rates (12.5% ​​corporate income tax, no taxation on foreign income, dividends, inheritance, etc.);
• high standard of living and purchasing power of the population;
• consistently developing economy with one of the fastest growth rates in Europe;
• the country is a member of the European Union and the Eurozone;
• the option to obtain permanent resident status through investment in real estate;
• excellent living conditions: warm climate, clean environment, high-quality products.

All these conditions are attractive for doing and optimising your business; therefore, foreign investors prefer to buy real estate in Cyprus because of its mild tax climate.

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What restaurants and cafes are popular in Cyprus?

Most restaurants in Cyprus offer Greek cuisine, but there are establishments with Japanese or Italian cuisine. Sushi and pizza are a trend all over the world, and Cypriots are no exception. Small cafes or coffee shops are also very common and highly popular among the locals.

Restaurants with a beautiful view are very much in demand, like those with a terrace or panoramic windows overlooking the sea. Establishments with mountain views have a special atmosphere, too. These places host holidays and weddings, business lunches and feasts, and tourists come to enjoy the beauty of nature and try local dishes, including the popular Cypriot meze. Although meze is not so much a dish as a way of serving. It includes a couple of dozen different colourful dishes in small portions. There is fish and meat meze, and the amount of food in this serving is enough for several people.

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Best locations to open a restaurant in Cyprus

Every city in Cyprus is in need of upscale restaurant service: Nicosia and Limassol are business centres where decent places for business lunches are in high demand; Paphos, Larnaca and Ayia Napa are tourist resorts where the flow of tourists is always eager to taste delicious food in a special place. However, each city has its specifics. For example, Paphos restaurants can offer the most beautiful sunsets in Europe, while Limassol restaurants offer gourmet food and viewing platforms on rooftops of high-rise buildings.

When choosing a location between the city centre and the waterfront, the waterfront usually wins due to the large stream of people.

Distress Property or new property? It does not matter for future profitability, yet buying real estate in need of renovation does not mean savings as you will have to renovate it to run a restaurant business, and renovation works can require significant investments.

In addition, almost every new residential compound, whether townhouses, villas, or high-rise buildings with apartments, can have a restaurant or cafe situated within its territory, offering a similar infrastructure to its residents. 

Therefore, buying a restaurant or a cafe in Cyprus has a large number of advantages and brings profit. However, any success depends on the initial conditions and a fundamental approach – analysis of the market, competitor products, assessment of risks and the most realistic situations. SPM Real Estate specialists can conduct such full-fledged analysis and create a custom-tailored business model for you.

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Prices for restaurants and cafes in Cyprus

As with any real estate, the pricing for restaurants and cafes in Cyprus depends on many factors. For example, any commercial real estate in Limassol and Nicosia will cost more than in the resort cities of Paphos, Larnaca, or Ayia Napa.

Furthermore, buying a restaurant in a building at the planning stage, after construction at the stage of a ready-made business, or on the secondary market in disrepair, means completely different prices.

Below are the main factors that affect the price of commercial real estate, including restaurants:

• location – some cities are more expensive, others are cheaper, and the cost increases significantly when the property is located in tourist areas or along the waterfront;
• investment model – the more successful it is, the more expensive the property gets, because the forecast ROI, payback period, and rate of profitability are taken into account;
• area and floor count;
• technical specifications and equipment;
• quality of materials used in construction;
• project implementation stage – planning, foundation pit, construction, finishing, or ready-made business;
• whether it is the primary or secondary market.

For real estate prices, see our catalogue.

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Reasons for buying a restaurant or cafe on the island

There are several reasons to buy real estate in Cyprus, including a restaurant:

• optimisation of taxation through low tax rates;
• no double taxation with 67 countries of the world, including Ukraine and Russia;
• high liquidity of real estate – buy property now, and rest assured that after a while you will be able to sell it for much more;
• high demand for business properties with an average ROI of at least 8%;
• a wide range of real estate options for commercial purposes, both at the planning stage and ready-made business;
• the option of acquiring a permanent residence permit through investment.

Our specialists have been living and working on the island for over 10 years, so they will help you choose the best location for your restaurant business and build a custom-tailored business model.

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Advantages of investing in real estate in Cyprus

What's more, buying real estate offers you several other advantages:

• life in a safe country — the island is the 5th safest place in the world, there is virtually no crime, and even petty theft is rare;
• high standard of living — the country is a member of the European Union and Eurozone and is governed by the British legal system, ensuring a high level of life for its residents;
• fast acquisition of permanent resident status for a real estate purchase of EUR 300,000 or more under the accelerated procedure (from 2 months). Permanent resident status applies to you, your spouse, your children, and your parents. Furthermore, the permanent resident status in Cyprus is also the permanent residency of the European Union with all its advantages. 7 years after obtaining the status, you can become a citizen of the country.

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Other types of real estate to buy in Cyprus

In addition to restaurants and cafes, you can buy other efficient commercial real estate in Cyprus:

• stores;
• shopping and business and entertainment centres;
• offices, co-working spaces, and innovation hubs;
• hotels and aparthotels;
• medical clinics;
• kindergartens and schools.

You can also buy residential real estate in Cyprus, which can be used both for living and renting out and pays off well in the beach season and year-round for long-term rentals. Types of residential real estate:

• suites or flats are part of multiunit residential compounds and most often consist of 1 to 3 bedrooms;
• a townhouse is a multiunit residential building, where each lodging has its own entrance from the street and is joined to the neighbours' housing only by two side walls;
• a villa is a detached house, that often has 2 floors, with its own territory, private swimming pool, and leisure area;
• an adjoining villa is similar to a townhouse, yet it is different in a way that the house may have only two owners, with each flat having a separate entrance, and you only share one wall with a neighbour.

Contact SPM Real Estate and buy real estate in Cyprus to make your dream of a beautiful life come true!

SPM Real Estate is your most valuable contact in Cyprus.

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