How Much is Your Home in Cyprus Really Worth?
If you’re planning on selling your Cyprus home any time soon, you’re in the right place. At DemPro, we understand what it takes to market a property in a way that appeals to buyers, whilst offering you as the seller the optimum level of profitability. But one of the most common questions that we’re asked relates to how much homes, apartments, villas and bungalows in Cyprus are actually worth – and unfortunately there’s no definitive answer.
What we can say however, is that our experts are licensed valuation specialists and we can visit your property in Paphos or Limassol to evaluate its key features, before calculating just how much it may sell for on the market.
Do We Have a Ball Park Figure?
This will typically depend on the condition of your property, as well as its age, location and other important factors. Generally speaking and in our experience, we can break different types of properties down into specific categories, but please note that these are just estimates based on previous sales. If you are keen to sell anytime soon, you’ll be pleased to hear that the property market in Cyprus has recently experienced an almost 2% increase in value, so without further ado, here’s a brief breakdown of what to expect.
These properties, particularly those of a traditional nature, are becoming increasingly popular amongst buyers; specifically those from the United Kingdom that are keen to invest for their retirement, or want to relocate before the Brexit deadline comes into play. In our experience, traditional village bungalows can sell from anywhere between €75,000 and €150,000. The more modern the bungalow, the higher the price.
Most villas that we come across will either feature their own pool or a communal one. As a result, the value of these properties can be more substantial, especially if they are detached or semi-detached. We’ve seen sales of anywhere between €150,000 for a one or two bedroom, right up to €300,000 for those closer to central locations and with more amenities.
Apartments and flats are often priced based on their location and square metre coverage. Ground floor apartments can sell from €100,000 upward, while those closer to the city can sell for anywhere between a few hundred thousand euros and several million.
Stand-alone houses either on their own plot, or as part of a complex, can vary in value. Generally speaking, the bigger the property and land, the higher the price. There are many contributing factors however; we’ve seen homes sell for €250,000 right up to 3, 4 and even 5 million EUR.