CLOSE X

Register - if you don't have an account

Yes! Sign me up for Global Property Guide's fortnightly email newsletter.


Login - for registered users

Forgot Password?
Explore destinations
continent map couldn't be loaded Pacific Europe & Russia North America Latin America Asia Africa Middle East Caribbean

 


Financial Overview

Directory

Property Search

Global Statistics

Regional Statistics






Aug 29, 2016

Though rental returns in Cyprus are moderate, low prices make it attractive.


Last Updated: Aug. 29, 2016
LARNACA - Apartments COST (€) YIELD (p.a.) PRICE/SQ.M. (€)
TO BUY MONTHLY RENT TO BUY MONTHLY RENT
60 sq. m. 78,180 310 4.75% 1,303 5.16
120 sq. m. 147,600 508 4.13% 1,230 4.23
LIMASSOL - Apartments
65 sq. m. 115,960 534 5.52% 1,784 8.21
120 sq. m. 183,600 810 5.29% 1,530 6.75
NICOSIA - Apartments
60 sq. m. 95,760 378 4.74% 1,596 6.30
90 sq. m. 128,700 508 4.73% 1,430 5.64
120 sq. m. 158,880 530 4.01% 1,324 4.42
200 sq. m. 254,800 874 4.12% 1,274 4.37
Source: Global Property Guide Definitions: Data FAQ See also: Update Schedule

Property prices. Property is not expensive in Cyprus, with prices around €1,300-1,600 per square metre (sq. m.). Smaller properties cost rather more per sq. m. than larger properties. 

Property rents.  Apartments of 120 sq. m. cost around €500 per month to rent in Larnaca and Nicosia, and around €800 per month in Limassol. 

If you are buying specifically with a view to renting out your property, Limassol appears to give you slightly higher yields.

Property returns.  Cyprus has not traditionally been a great location to be a landlord, because of moderate rental returns.  But while gross rental yields in Cyprus have remained steady over the years, they have fallen almost everywhere else as a result of the asset-inflationary effects of low interest rates.  Result: Cyprus now looks comparatively attractive as a place where buying prices are low, so that capital gains on property are conceivable. However, it is always extremely hard to forecast which locations international buyers will seize upon as attractive. 

Property buying costs.  Round trip transaction costs on the purchase of old residential property in Cyprus are moderate, but VAT on new properties is high.  See our  Cyprus residential property Buying-Guide and Cyprus property transaction costs compared to the rest of Europe






Comments


Be the first to comment on this article!



Login or Register to submit a comment!

In order to promote open and spam-free conversations, Global Property Guide moderates commetns on all articles. You can expect that your comment will be published within 24 hours.



Compare Countries



Free Newsletter

Fortnightly updates from the global property arena directly to your inbox.


Email Address:





Connect to professional advice in Cyprus





PROPERTY RECOMMENDATIONS

 
Download free property reports from international research houses

Our Newsletter

 
Fortnightly updates from the global property arena directly to your inbox.

Manage subscriptions