Townhouses for sale in Cyprus

Townhouses in Cyprus

A townhouse is one of the most common types of lodging in Cyprus. There is a simple explanation – this type of real estate combines the convenience of a flat and the atmosphere of a country house. By choosing this type of real estate, you will find yourself part of a small community of residents, but with just a few neighbours, so you can enjoy a quiet life that is not disturbed by other people's life activities.

Townhouses are a traditional type of Cypriot buildings that have never lost ground, as they can cost less than a villa, but at the same time, combine many of its amenities.

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What is a townhouse?

If you buy a townhouse in Cyprus, you will be able to get a special comfort of life and recreation. However, what makes this level of comfort possible and what does a townhouse look like?

A townhouse is a special type of building where several cottages are combined into one compound. Most often, it has 2 floors. Cottages are located not at a distance but are adjacent, that is, they are joined by side walls. You will not have neighbours upstairs or downstairs, because this is not a flat. Other residents will live only to the right and left of your home.

The main features of townhouses include a private entrance from the street, private access to the rooftop, and a private adjacent territory. On your land plot, you will most likely have a garden, a lawn, and a barbecue area.

The compound may also include a shared swimming pool, a playground, a gym, and other infrastructure facilities.

A standard layout of the townhouse:

• 2 floors;
• 2 to 3 bedrooms or more;
• combined kitchen and dining area, and possibly a living room;
• 2 bathrooms;
• at least one terrace;
• parking spot;
• storage room.

The ground floor is usually occupied by a living room, a kitchen, a dining room, and one bathroom, while the second floor features bedrooms and a second bathroom. If no terrace is available, a place to relax with a table and chairs where you can admire sunrises and sunsets with a cup of coffee will be organised outside in the garden.

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What will you get after buying a townhouse in Cyprus?

The purchase of any real estate in Cyprus provides obvious advantages:

• life in a country with a mild climate and clean environment;
• obtaining permanent resident status for your family;
• promising investment goals.

Investments in real estate are popular on the island since real estate is liquid here (the market price is steadily increasing) and can bring a fairly high ROI (average of 8% per annum).

Even by purchasing a residential property for yourself, you can gain a stable profit, for example, by renting out your townhouse in Cyprus to tourists during the high season that lasts from April to November. During other times, you can live in your house and enjoy the sun even in winter, because the island has 330 sunny days per year.

There is also a Fast Track programme on the island. Under this programme, by buying real estate in Cyprus at a certain price, you become eligible for a residence permit for yourself and your family. We are talking about investments starting at EUR 300,000. However, for this amount you can purchase several properties – residential buildings, a residential building and a store, or several commercial properties. The townhouse also makes you eligible to acquire permanent resident status.

In addition, buying a house in Cyprus, whether a townhouse or another type of real estate, provides you with the following options:

• moving to the island with your family with lots of warmth and sun, clean environment, and high-quality food, and which is a perfect place for raising children;
• safety and high-quality medicine;
• year-round vacation by the sea;
• beautiful nature and life in a perfect place where you can make your dreams come true.

You can easily buy any type of real estate in Cyprus. SPM Real Estate specialists will help you choose the best property for your goals.

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The best city in Cyprus to buy a home

You can buy a townhouse in any city and region of Southern Cyprus. SPM Real Estate will help you choose the best options. You can buy real estate in the following cities:

• Limassol;
• Paphos;
• Larnaca;
• Ayia Napa;
• Polis;
• Nicosia;
• Paralimni;
• Protaras.

Each of the regions has its own specifics.

Limassol is the business centre of the country, it is in great demand, but the price tag here is higher than in any other city. However, this is what makes buying a townhouse in Limassol one of the most liquid solutions – there is an extremely high demand for housing here.

Nicosia is the capital of the Republic of Cyprus. It has no access to the sea, but many companies relocate here, business centres are created, and business is developing actively.

Paphos is the most ancient city on the island, a historical centre with many archaeological sites, which contributed to the entire Old Town being included in the UNESCO List of Intangible Cultural Heritage. This region is actively developing as a business community and is considered one of the best resorts. Sunsets here are recognised as one of the most beautiful in the world.

Larnaca and Ayia Napa are popular resorts in Cyprus, yet the former is considered more suitable for a relaxing holiday with children, and the latter is commonly called the Ibiza of Cyprus.

You should also keep in mind the charming villages of the Troodos Mountains. It is always cooler here, there are many coniferous plants, and in winter, the peaks are covered with snow with ski slopes active.

Now you know the main features of the regions of Cyprus. Depending on your life and business goals, our experts will help you choose the best real estate for investment in Cyprus.

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The cost of a townhouse in Cyprus

Prices for real estate in Cyprus vary and depend on many factors:

• a specific city or region;
• proximity to the sea;
• infrastructure included in the compound;
• quality of materials;
• age of the property;
• interior and exterior area;
• the overall level of landscaping.

For example, real estate in Larnaca or Protaras is relatively cheap, while buying a townhouse in Limassol or Paphos can be more expensive. The cost of housing in Cyprus can vary greatly, so check the details with our specialists or just visit the website to find the directory of properties.

Most of our clients purchase real estate worth at least EUR 300,000. This is because you can acquire permanent resident status under the accelerated procedure upon spending a determined amount on housing.

Our experts will help you choose a property, as well as develop a business model having calculated all risks and making a realistic forecast.

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Advantages of buying a townhouse in Cyprus

When buying any type of real estate in Cyprus you get several advantages at once:

• optimisation of taxes, because the country has a very mild tax climate and one of the lowest tax rates (only 12.5%);
• high rate of return on investment — the real estate market and demand for it are growing, which enables getting a good ROI;
• 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, as Cyprus is a member of the European Union and Eurozone and is governed by the British legal system, which ensures a high level of life for its residents;
• obtaining 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 Cyprus.

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Other types of residential real estate to buy in Cyprus

In addition to townhouses, real estate in Cyprus is represented by several types of properties:

• a suite or a town flat is part of multi-unit residential compounds and most often consists of 1 to 3 bedrooms;
• 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.

For investment purposes, in addition to residential real estate, you can also buy commercial real estate, which is represented by a variety of properties on the island, such as hotels, aparthotels, stores, restaurants, offices, hubs, medical centres, etc.

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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