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:
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.
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.
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.
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:
For real estate prices, see our catalogue.
There are several reasons to buy real estate in Cyprus, including a restaurant:
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.
What's more, buying real estate offers you several other advantages:
In addition to restaurants and cafes, you can buy other efficient commercial real estate in Cyprus:
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:
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.
Мы, команда SPM Real Estate, предоставляем на своём сайте надёжную и исчерпывающую информацию касательно вопросов покупки и аренды жилой и коммерческой недвижимости, а также освещаем разнообразные бытовые и юридические вопросы, интересующие наших пользователей.Читать далее
Мы, команда SPM Real Estate, предоставляем на своём сайте надёжную и исчерпывающую информацию касательно вопросов покупки и аренды жилой и коммерческой недвижимости, а также освещаем разнообразные бытовые и юридические вопросы, интересующие наших пользователей.