Where can one find the cheapest apartments in Cyprus?

The cheapest and most affordable apartments in Cyprus can be found in the Paphos area. Here the price for a studio apartment can be as low as 50,000 euro. For contemporary yet still low-cost apartments you should turn your gaze to Peyia and Polis.

What is the maximum amount of properties that can be purchased in Cyprus?

You can purchase exactly one real estate object, whose area size cannot exceed 4,000 square metres. This property can be anything from an apartment to a townhouse or villa, even a plot of land, although in the case of the latter, the area size of purchased land is different and caps at 40 acres instead. You can even purchase commercial property, but you will have to keep in mind that it can only be bought by legal persons, and registered in the Republic of Cyprus at that.

What is considered the best location for purchasing an apartment in Cyprus?

Cyprus has a lot of wondrous destinations to choose from when it comes to buying an apartment. This choice depends heavily on your way of living and your reason for purchasing an apartment in Cyprus, whether it is living or investing. Nevertheless, there are several universally liked and appreciated cities that are worth mentioning. These include as follows: Nicosia, which is the capital of Cyprus and its largest city; the second largest Limassol; the southwestern Paphos and southeastern Larnaca, both popular tourist destinations as well as convenient places for a living; and last but not least Ayia Napa, which is considered the largest tourist resort in Cyprus.

Who ends up paying stamp duty after the purchase of an apartment in Cyprus?

Stamp duty in Cyprus is always paid by the one buying the apartment. Ideally, this should be done before the contract of sale is submitted for registering to the Republic of Cyprus Land Department as this payment is necessary for the legalisation of the property purchase. You have exactly 30 days to pay state duty from the signing of the sales contract.

Which is the most sought-after region for a living in Cyprus?

If you are looking for one of the best regions to live in Cyprus, you should consider Nicosia, which often comes first in terms of convenience, integration and achieving a healthy work-life balance. It should also be noted that a lot of expats who relocate to Cyprus from other countries usually prefer to settle on the south coast.