Investing in luxury real estate in Cyprus is now more profitable than ever. Active construction is underway on the island. In times of crisis, properties can be purchased at fairly competitive prices. Such investments help to protect equity capital from inflation. They are much safer than investing in mass-market real estate.
If we analyze the dynamics of real estate prices on the island over the past 30-35 years, we can see that neither economic crises nor other “shocks” of the country's financial market can seriously affect the value of luxury real estate. Often, luxury-class houses are extremely reluctant to fall in price and rise in price quickly. This makes these assets more reliable.
However, it is important for the buyer to navigate the Cyprus real estate market, to be able to distinguish a real elite class from a simple standard stuffed with "marketing chips".
5 key signs of luxury real estate in Cyprus
- Location. Realtors in Cyprus often try to "blur" the main criteria of the center. You need to pay attention to this when viewing advertisements. As practice shows, there is a main pool of districts on the island where elite housing can be located or potentially appear. Their boundaries change very rarely and only slightly. Luxury real estate is by all means by the sea. And only the first coastline of an economic or resort center. Direct beach access is a good indicator.
- Architecture. Construction companies engaged in the construction of real estate in the de luxe category are attentive to the choice of an architect, trying to invite eminent specialists in the field of modern architecture to develop a project. Thus, for example, Ricardo Bofill led the development of an elite residential complex in Limassol. This architect, originally from Spain, is famous for developing projects for the National Theater. Catalonia (Barcelona), the American skyscraper "Dearborn Center" (Chicago), "Shiseido" building (Tokyo). He is also the author of the buildings - headquarters of the companies "Christian Dior" and "Cartier" in France. Elite housing is never built according to standard projects. It is always something exclusive, stylish, expensive and at the same time - modern, comfortable, thought out to the smallest detail.
- Number of apartments. Luxury dwellings rarely house many apartments. They actually stand out for the fact that there are not many apartments. Such real estate stands out not for its scale, but for its comfort and quality. Elite housing has a club format. Here privacy is maintained, a special living space is created, a wide range of related services is provided. In an apartment building, you will not face the problems of lack of video surveillance or security, lack of parking spaces. Remember that a limited number of properties are built in this concept in Cyprus.
- Construction quality. Elite housing is built according to the principle - do not skimp on quality. Only the best building and finishing materials are used here. The developer will not reduce the cost of the project at the expense of technologies. Most of the houses in the luxury segment are built using monolithic frame technology.
- Infrastructure. Another significant aspect of luxury real estate is the high quality of external and internal infrastructure. There will be shops, pharmacies, gyms, and medical centers in the immediate vicinity of expensive houses. Internal infrastructure without fail includes a garden area, swimming pools, underground parking, guest parking, 24-hour security, reception area, recreation and barbecue areas, and much more.
Buyers should also recognize any "bait traps". Luxury accommodation is always expensive. You can buy it at a bargain price during the construction phase, however, this price will not be low either. Invest wisely in Cyprus!