Property in Protaras: features of the region

Protaras — the pearl of Cyprus, a small resort town near Paralimni and Ayia Napa — a long promenade stretches along the waterfront with numerous golden beaches, many of which won the prestigious European award Blue Flag.

The pride of Protaras is real estate, represented by luxury apartments and villas, which are in demand there for life and leisure. When buying a home in Protaras, you can count on a high rate of return on investment. Why so? This we will talk about below.

Features of Protaras: beaches, luxury apartments, and ancient history

Protaras tourist center stretches along the entire eastern coast of Paralimni. It is one massive promenade with fashionable hotels and luxury residential complexes.

Protaras used to be a small fishing village, but the Turkish invasion of 1974 changed everything. It used to belong to Famagusta and was hidden in the shadow of its magnificent beaches and hotel area. However, after the invasion, some of the lands of Famagusta went to the Turks, while Protaras remained on the Greek side. Since then, the city began to develop in the tourism industry. There were luxurious hotel complexes and one of the best properties in Cyprus.

So began the modern history of the village. Today, the beach season, which lasts from May to October, welcomes thousands of tourists and year-round offers to buy apartments in Protaras investors worldwide.

What is the attraction of this village? The famous party town of Ayia Napa is 10 kilometers away. However, Protaras is quieter and family-friendly. From there, it is easy to get to Ayia Napa for the foam parties and discos, all the rest of the time living in a measured and calm rhythm. It is very comfortable for families with children. For children's holidays, local beaches with clear water, sandy coast, and shallow entrance to the sea are well-suited. On the shores of Protaras are on-duty lifeguards. There are a variety of water activities and an extensive infrastructure (cafes and bars, showers, deck chairs, and umbrellas). All beaches in Cyprus are municipal, that is, public and free, so you can easily find a place to relax, but for the rental of sun loungers and umbrellas will have to pay.

In addition to beach life, the city is rich in ancient history and architecture, with many centuries-old churches and a touch of traditional Cypriot life. And more recently, Hellenistic tombs have been discovered here, which anyone can view.

The weather in Protaras is sunny and warm all year round. The sea here is the warmest in the Republic of Cyprus. In summer, the air is dry and hot. The water warms up to 28 degrees. With comfortable temperatures, winter is also warmer than the rest of the island. If you buy property in Cyprus in Protaras and live there, the sun will please you 330 days a year because even in winter, the rains are short and sunny days prevail.

Regarding real estate prices in Cyprus, Protaras is much lower than the megalopolises of the island — Nicosia, Limassol, or even Paphos. The reason for lower prices is only the growing popularity of the resort. However, this allows you to buy an apartment in Protaras premium class and, at the same time, pay less than in Limassol. While renting an apartment, you will not feel the lack of clients wishing to rent your property, as the summer is the hot season here, when the flow of vacationers does not dry up. You can live in your house in winter and enjoy the warm Cypriot sun.

What kind of property is in demand? If you buy a villa in Protaras, you will provide yourself with a liquid and profitable property, as the need for rent is high, and the price of real estate in Cyprus is increasing every year, allowing you to sell your home at a high price eventually.

If you want to buy an effective property in Protaras, contact the professionals at SPM Real Estate — we can help you find the best accommodation for you and the most liquid properties if you buy for commercial purposes.

Apartments and villas in Protaras: which property should I choose?

Residential real estate in Protaras are several types of properties:

  • apartments and apartments, which are located in apartment complexes;
  • villas and adjacent villas, with their land, are analogous to one's own house and can be found both within and outside the city.

Buying a house in Protaras allows you to realize your investment goals, as real estate in Cyprus is profitable and brings passive income when renting to tourists. Property such as villas is in high demand in Protaras and is one of Cyprus's most beneficial and liquid real estate. Apartments are not inferior in these parameters, and the choice depends more on personal preferences. Sometimes apartments are more expensive and can be much more technologically advanced than villas, especially if we are talking about penthouses.

What is included in the price of real estate in Protaras: the main criteria

In Cyprus, the price of real estate increases if there are several key factors:

  • the first coastal line is proximity to the sea and beaches; 
  • a large living area and a large adjacent land;
  • the development of infrastructure of the residential complex: gym, swimming pool, restaurant, and recreation area;
  • builder's expertise and high-quality building materials.

It is also essential at what stage of construction you buy real estate. The price is minimal at the stage of design and excavation, and at the stage of the completed facility, ready for operation, it will be the maximum.

It also matters the city in which you are buying a home. The price in Limassol will be many times higher than in other regions. An apartment in Protaras can be as technologically advanced and comfortable, but it will be almost 40% cheaper than a similar apartment in the capital or business center of the country.

Buying an apartment in Cyprus in Protaras speaks for itself about a suitable investment. SPM Real Estate specialists will help you calculate all the points and optionally build a business model to buy the most effective real estate in Cyprus for future sales or leases.

The advantages of real estate in Protaras: quality of life, taxes, residency

A stable rental income and the acquisition of high quality of life justify investment in real estate in Cyprus. The Republic of Cyprus is a European country with a mild economic and tax climate, highly favorable to business and family life.

By buying property in Protaras, you will feel all the benefits of Cyprus:

  • low tax rates;
  • stable economic growth;
  • preferential IP-box program for IT companies with a rate of 2.5%);
  • ROI on average of 8% p.a;
  • real estate market growth for 3 years in a row;
  • high level of security;
  • high standard of living;
  • country's accession to the European Union and Eurozone;
  • British legislation;
  • fast receipt of a permanent residence permit (Permanent Residence Permit) of Cyprus with the purchase of the real estate of €300,000 plus VAT.

What other real estate can I buy in Cyprus?

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

  • stores;
  • 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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