Cyprus hides some of the best real estate projects in the Mediterranean Sea. Investing in the offered project in Cyprus is a perfect combination of entry price, payment terms and profitability.

You can access one of the best luxury residential projects near the Mediterranean coast for as little as Є189,000 + VAT.

This project, with a projected return on investment of 4.4% and great growth opportunities, is perfect for investors who want to take advantage of the great opportunity that the Cypriot real estate market represents and at the same time have access to a permanent residency permit on the island.

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In the middle of the Mediterranean Sea lies Cyprus, an island as beautiful as it is discreet, with an impressive cultural background and most importantly: with great investment opportunities for those interested in Cypriot real estate.

We at Mundo have set ourselves the task of finding the best opportunities to invest in Cyprus and presenting them in this section. Our work has always been geared towards making the lives of international investors easier, and one of the best ways to do that is by providing access to the information that matters at the right time.

On this occasion, we’d like to introduce you to a very versatile Cypriot real estate investment opportunity with an unbeatable location considering its entry prices. We are talking about Paralimni Apartments.

About the Project

This real estate project is the architectural manifestation of privacy and modern aesthetics. It is a complex of 40 2-bedroom and very luxurious apartments located in one of the most exclusive areas of all Cyprus: Paralimni.

Being in Paralimni means that the apartments are just steps away from the paradisiacal beaches of Cyprus. If there is something better than buying an apartment near the beach, it is buying one near the Mediterranean Sea.

The complex has a set of amenities that includes:

- Gymnasium

- Changing areas

- One swimming pool for adults and one for children

- Playground for children

- Green areas

- Storage room for each apartment

- Parking spaces for each apartment

Location of the Apartments

Paralimni is a town that is experiencing an interesting demographic growth, at the same time as an architectural modernization carried out mostly by local investors who see in this place one of the most interesting opportunities to invest in Cyprus.

The apartment complex is close to some points of interest such as:

• Paralimni Downtown: the center of the city, which houses shopping malls and several modern venues offering dining experiences of the highest standard.

• Protaras: the tourist hub of the area is in Protaras, as this is where most of the beautiful beaches of Cyprus are concentrated. The most famous beach of the place is called Fig Tree and attracts tourists from all over the world.

• Pernera: a mile from the shores of Protaras is Pernera, a small area that is much quieter than Protaras but also has a lot of cultural, gastronomic and general entertainment for locals and tourists.

• Kapparis: is a coastal village very close to Paralimni and Protaras that attracts a lot of tourism and also concentrates several ambitious real estate projects in Cyprus.

Investment Cost

Perhaps one of the best things about this real estate investment project in Cyprus is its entry price, which in this case starts from Є189,000 + VAT.

The entry price is lower than most of the properties near the Mediterranean Sea that we can place in the same category, but is that in addition to that, the real estate developer with whom we have allied in Mundo has also arranged for our readers payment plans through loans that makes this opportunity more than attractive, let's see the details:

-Initial: 40% of the total contribution: Є75.600

-Repayment loan for 60% of the value of the total contribution: Є113,400.

-Payment terms of the loan:

-Interest rate: %2.3

- Payment of the loan (years vs installments):

- 20 years with monthly installments of Є624.

- 15 years with monthly installments of Є789

- 10 years with monthly installments of Є1,120

This real estate opportunity allows you to acquire a property near the Mediterranean Sea for only Є75.600 + VAT, and paying installments of Є624 to 20 years. It is too good to pass up.

ROI

The most neutral projections are that this project will not only leave you with a property that can support you for years to come, but that you will also enjoy a rental ROI of approximately 4.4% per year starting in 2024, of course, with growth projections.

Another Bonus of Your Real Estate Investment

For an international investor it’s possible to obtain permanent residency in Cyprus through real estate investment. To be specific, you can obtain Cypriot permanent residency if you invest an amount of €300,000 (for example, you could buy two apartments that together add up to that amount).

The €300,000 you invest to access the Cyprus permanent residency has to come from abroad, so in order to get the residency, you can either resort to a bank loan from an institution outside Cyprus, or, of course, use your own funds.

Moreover, for Cyprus PR program purposes, real estate investments over the minimum requirement of €300.000 can be locally financed. 

For example, if an investor decides to buy two apartments at €189.000 each for a total of €378.000, the €78.000 can be locally financed. 

We say it again that the total cost of €378.000 can be the product of a loan facility and still meet the PR requirements if the loan is obtained from a non-Cyprus based financial institution.

Questions & Answers

Q. How reliable is the developer and what is his history? 

The developer commenced operations in 1986.

By 1996 the Group managed to secure significant quality certifications: ISO 1400 and 14001 and Health and Safety 18001, the first company on the island to obtain all three IS0 Certifications. 

By 1999 the Group was ranked among the top largest land development companies on the island by the respected “InBusiness” magazine. 

In 2016, the Group celebrated its 30-year anniversary. The developer is currently delivering high-end developments in several South East Coastal resorts and villages. 

Q. Why is it good time to invest in Cyprus right now? 

Many opportunities arise because of: 1. High rental yields. Many people are turning to self-catered properties instead of hotel facilities because of covid, and therefore, driving up the demand for rental villas. 

2. Capital growth due to the many developments in the area such as the Ayia Napa Marina, Paralimni Marina, Golf Course, University, Training Camps, Underwater Museum etc.

Q. What are the property laws in terms of the investor’s protection and how is the title acquired? 

Title deeds issuance is a procedure carried out by the developer right after the construction has been carried out. As soon as the contracts of sale have been finalized, and at least 30% have been paid, the developer and lawyers will deposit the contract of sale to the land registry office in the name of the client. 

In addition to this, the developer will ask for a stage payment, only after the said works have been finalized. This means that If the developer does not finish for any reason the property, the owner may use the remaining of the amount to finalize the construction.

Q. What are the evident advantages of this project?

For the apartments: Great location between the touristic area of Protaras and the town centre, newly build area, high demand for apartments as the supply is very small, easy to rent.

For the villas: Great location: 700 meters to the beach, highly rentable area with very high rental yields especially for short-term rentals, strong capital growth as it falls in a about 1km radius from the upcoming Paralimni Marina.

Q. How does the project compare with other projects in the area in price and value for money?

Lower prices, better location, higher quality of finishing (class A constructions) mainly due to economies of scale as the developer is the market leader in this area.

Q. Can you buy it with crypto and if so how? 

No, you cannot.

Q. Can you acquire residency with the purchase and if so how?

All this developer’s projects qualify for the permanent residency permit. Based on the scheme requirements, a minimum of EUR300,000 must be brought from outside the country (local loans are not eligible) in addition to other requirements such as keeping an amount of EUR30,000 euro in the bank for at least 3 years, clean criminal record, etc.

Q.What is the developer’s special offer to our readers?

The developer will send standard prices for all properties in the projects showing the reduced (special) offers.

Do not hesitate to contact us for more information and other projects available in Cyprus.