Residential real estate in Paralimni: features of the region

Paralimni is a small resort town in the southeast of Cyprus. It is quiet, with a peaceful atmosphere, which disposes of enjoying life. Not so long ago, the town was a simple fishing village, but with the advent of tourism began to develop infrastructure and streets. Houses actively began to improve, following modern quality trends. Buying property in Paralimni now attracts foreign investors and relocates who want to settle in a quiet place away from the bustle of the metropolis.

Features of the town of Paralimni

Paralimni doesn't have the rich history of Paphos or the number of business centers and restaurants of Nicosia or Limassol. The city has a unique atmosphere, which cannot be compared to other municipalities.

The settlement belongs to the district of Famagusta. However, after the occupation by Turkish troops, most of the district went to Turkey. In the Cypriot part, only a few territories remained — Paralimni, Protaras, and Ayia Napa. At the same time, Paralimni began to serve as the center of the district in those territories that remained in the Greek part of the island.

A lot has changed here in recent years. The city has grown considerably, attracting investment, and is rapidly developing in terms of tourism and infrastructure improvements.

The weather here is warmer than in many other counties of the Republic of Cyprus. The southern sun warms the water well off the coast, allowing the beach season to last a few weeks longer. Winters are warmer and drier, and nature is a riot of color.

The beaches of Paralimni also please, many of them have the European award Blue Flag, which indicates the purity of water and sand, as well as swimming safety — the purity of water is checked several times a week, there are lifeguards on duty, there is a gentle entrance to the water, shallow depth, and breakwaters.

However, the constant flow of tourists will not worsen life in the town, as the distance to the coastline here is 3 kilometers. The views, however, are spectacular as the town is situated on a mountainous hill near Lake Paralimni, after which the settlement was named.

The beaches are mostly small, in bays, with calm, warm water and a chamber atmosphere. There is not a large influx of holidaymakers due to the distance so you can relax on the sand almost alone.

There are stores and markets in the town, but no hypermarkets. The closest brand-name boutiques are in the resort and party town of Ayia Napa, but the distances are short even by local standards.

If we talk about real estate prices in Cyprus, in Paralimni, they are much lower than in Limassol, Nicosia, or Paphos. However, the loyal price does not mean a lack of quality apartments and houses. It is connected with a small demand for the location, as Paralimni has only recently begun to develop and build luxury villas and apartments.

What kind of real estate can I buy in Cyprus, Paralimni? It can be apartments in apartment complexes and private homes in the city or out of town. Any accommodation will be comfortable here, and life on the sunny island will please you with lots of sun and clean sea air.

If you want to buy a property in Paralimni, contact SPM Real Estate specialists. We will help you find the best accommodation for you and the most liquid properties if you buy for commercial purposes.

Property in Paralimni: what to choose?

The resort is developing rapidly, but the choice of real estate types here is limited.

The following properties represent residential real estate in Paralimni:

  • apartments in complexes;
  • comfortable villas and houses with their land.

Buying a house or apartment in Paralimni for investment purposes can be profitable if you rent your property to tourists because there is a great demand for holiday rental properties during the beach season, which lasts from May to late October.

The price of real estate in Paralimni: what does it depend on?

In any city of Cyprus, real estate prices are formed as follows:

  • apartments and villas by the sea are much more expensive than those that are away from the shoreline;
  • the amount of living space determines the price — the more it is, the more expensive it is;
  • the price list includes the internal infrastructure of the complex and its services: gym, swimming pool, restaurant, recreation area;
  • the quality of building and finishing materials, the builder's expertise is highly appreciated;
  • depending on the stage of construction, the price rises — the cheapest in the trenches, and the completed project is already sold at the maximum price.

Also, the price of real estate in Cyprus affects the city — the cost of housing in Limassol or Nicosia will be 40% higher because of high demand. Paralimni's price is much lower, although the property is categorized as elite.

If you buy an apartment in Paralimni, you can be sure your investment is suitable. SPM Real Estate specialists will help you calculate all the points and optionally build a business model to buy the most effective property in Cyprus for further sale or lease.

What will the purchase of property in Paralimni bring you: bonuses

Investing in real estate in Cyprus provides a stable income and quality of life in a European country with an ideal climate. Buying a villa in Paralimni or any other real estate property, you also get several bonuses at once:

  • stable economy and annual growth of the financial sector;
  • one of the lowest tax rates in Europe (corporate tax 12.5%, tax 2.5% under the IP-box program for IT companies);
  • high ROI on average of 8% p.a., but may be much higher;
  • stable growth of the real estate market for 3 years in a row;
  • high level of security, which allows Cyprus to be ranked 5th in the world in this parameter;
  • high standard of living — the country is a member of the European Union, a member of the Eurozone, governed by British law;
  • the rapid receipt of the permanent residence permit because if you buy a property for €300,000 plus VAT, you will get a permanent residence permit in Cyprus on an expedited procedure for 2 months. After 7 years, you can become a citizen of the country.

What other real estate can I buy in Cyprus?

In addition to residential real estate in Paralimni, you can also buy an effective commercial property in Cyprus:

  • shops;
  • offices, co-working spaces, and innovation hubs;
  • shopping and entertainment centers;
  • cafes, restaurants;
  • hotels and apart-hotels;
  • medical clinics;
  • kindergartens and schools.

Depending on your life and business goals, our experts will help you choose the best property for investment.

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

Your most valuable contact in Cyprus — SPM Real Estate.

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We, SPM Real Estate team, provide our users with reliable and comprehensive information concerning buying and renting residential and commercial real estate, as well as covering variety of domestic and legal issues.

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