There are currently great investment opportunities in the real estate market. Due to a recent amendment in the legislation regarding foreclosures, a number of properties have been repossessed by banks and are being sold at significantly reduced prices. For the same reason a lot of distressed properties have appeared on the market where owners want to sell fast before banks repossess their assets.
These properties include villas, apartments, commercial developments, hotels, plots of land and industrial properties. Please also note that purchasing such properties can also be used to acquire a Cyprus citizenship or residency. For more information please click here.
Local banks have a number of such properties in their portfolios which are located throughout the island starting from as low as 35,000 Euros, a small selection of which can be found below:
Type:
Fully detached villas with 3 bedrooms
Description:
These villas are built in large plots of land along the beach protection line, therefore, nothing can be built in front of them. All of them have private swimming pools, are fully furnished, built to high specifications and equipped with state of the art fittings such as, Italian kitchens and integrated appliances.
Area:
A nice and quiet residential area just outside the holiday resort of Ayia Napa and a 30 minute drive from Larnaca International Airport. The area features some of the best beaches on the island, restaurants, bars, shops and supermarkets.
Within the next few months the construction of a world-class marina with over 600 births, manmade white sandy beaches, a hotel, restaurants and bars will begin nearby, thereby, further boosting the property prices in the area.
Price:
From 550,000 Euros
Tags:
- Seafront property
- Marina property
- Investment opportunity
Type:
Apartments with 1 and with 2 bedrooms
Description:
These spacious apartments are partly furnished, have private parking spaces and a shared swimming pool. Ground floor apartments have private gardens and the top floor ones large balconies.
Area:
Kapparis is a quiet residential area just outside Paralimni, a few minutes’ drive from the holiday resort of Protaras and a 40 minutes’ drive from Larnaca International Airport. The apartments are within walking distance from the beach, restaurants, bars and supermarkets.
Price:
From 55,000 Euros
Tags:
- Residential property
- Holiday property
- Investment opportunity
If you are interested in purchasing a repossessed or a distressed property please contact us.
Please make sure that you state your exact requirements, such as the type of property sought, its location and the price range, so that we can carry out a search and identify a portfolio of suitable properties.