With their beautiful natural landscapes and historical sights, each city of Cyprus is different in its beauty and cultural heritage. With the recent increase in real estate investments in Cyprus, listings for villas for sale in Famagusta started to gain even more attention than they did before. Famagusta further started to attract attention with its newly constructed real estate projects. Since Famagusta is one of the most important trade centres of Cyprus, those who are considering moving to Cyprus are also interested in the business opportunities the city offers. If you’re currently in the midst of searching for luxury villa options for sale in Famagusta, we advice you to take a look at the link for Cyprus Villas for Sale.
If you are searching for a house for sale or an apartment for sale in Famagusta, you can take a look at our recommendations here: Advice for Those Who Want to Buy a House for Sale in Famagusta
Pros and Cons of Famagusta
Famagusta is one of the liveliest regions of Cyprus that hosts many businesses ranging from different sectors such as education, service and tourism. Famagusta, while being the home of the largest free port in Cyprus, also hosts beautiful and clean beaches. Thanks to its port, Famagusta is easily reachable directly from the sea. With its important historical monuments, Famagusta is one of the most important cities that contribute to cultural tourism of the TRNC. The region is also very active in terms of its population. Students and university employees are directly effective in the dense and fluid population in the region.
The real estate sector continues to develop actively in proportion to the increasing number of population in Famagusta. Furthermore, real estate investments being done in the region are diversifying the types of properties to meet the changing real estate demand. In addition, in Famagusta, where the students who come to the island for education are densely populated, the prices of rental houses in Cyprus are increasing.
Many tourists who come to the TRNC for vacation can choose to rent villas instead of booking a hotel room. For this reason, renting a villa in Famagusta also increases the overall levels of demand for Cyprus villas for rent.
Famagusta Villas for Sale Options
Thanks to its beautiful natural landscapes, beaches, and consistent sunlight throughout the year Famagusta is an obvious favourite for many. As the number of people looking for a house for sale or rent in Famagusta increases day by day, the real estate sector is constantly developing to match the needs of the population.
Recently, the increasing levels of demand for real estate started to be further reflected in an intense increase of demand for luxury villas for sale in Famagusta. People are turning to villas as an option to benefit from the comfort of living in a detached and luxurious house. There are different types of villas according to their size and facilities.
Villas in Cyprus are classified under two main types in the local real estate sector. The first type refers to standard villas. Standard villas are villas that do not have their own garden and pool, and their size does not exceed 200 square meters. The second type is luxury villas. These are villas with their own pool and garden, and usually are larger than 200 square meters.
It is possible to find villa options that appeal to every type of need and every budget by searching for Famagusta villas for sale listings. It is further important to mention that due to the high levels of demand for real estate, buying a villa in Famagusta, whether for living or for investment, will be profitable under all circumstances. By buying a villa for sale in Famagusta, you can live a peaceful and quiet life, or you can create profit by renting the villa you have purchased and obtaining rental income.
Prices of Famagusta Villas for Sale
Cyprus, with its warm climate and friendly people, is the country of many people’s dreams. Therefore, the number of people who want to settle in Cyprus is increasing day by day.
It is further important to mention that it is incredibly profitable to invest in real estate in Cyprus. Hence, the number of people who choose to invest in real estate in Cyprus is quite high. Besides the affordable prices of properties, another reason for the high levels of real estate investments in Cyprus is the low turnover period times of properties which usually varies between 8-12 years.
Apart from this, the prices of luxury villas for sale in Famagusta vary depending on many real estate factors. In Famagusta, where the real estate sector is constantly developing and diversifying with new projects, there are villas close to the sea with their own pools and gardens, as well as villas with a shared garden and a shared pool within the site.
We can say that it is always very advantageous to buy a villa close to the beach in Cyprus. Check out this article to learn more about this topic: What are the Advantages of Buying a Villa Near the Beach in Cyprus?
Villas with varying number of rooms have alternatives suitable for both those who want to live alone and those who want to live with their families. There are naturally differences in the prices of Famagusta villas for sale and luxury villas for sale in Famagusta.
Standard villa prices in Famagusta usually start from £70,000 up to £120,000. The prices of luxury villas for sale in Famagusta range between £250,000 and £350,000.
To get more information on the prices of villas for sale in other cities of Cyprus, check out this article: Cyprus Villa Prices for Sale
Things to Watch Out for When Searching for Villas for Sale in Famagusta
- Before buying a villa for sale in Famagusta, you should first clarify your needs and expectations from the villa.
- Decide on the location of the villa. Proximity to the sea and other possibilities are also important factors here. However, do keep in mind that Cyprus is a small island, no matter where you buy your villa, the beach will always be near.
- If you want to live somewhere spacious with a lot of rooms, concentrate on the advertisements for luxury villas for sale in Famagusta.
- Consider buying off the plan. In this case, the real estate price will be much more affordable. If you want to buy a villa off the plan, you should diligently research the construction company that undertook the project. If necessary, you should visit the already finished projects of the company and make your decision accordingly.
- There are different types of title deeds in the TRNC. While evaluating villas for sale in Famagusta, it is useful to pay attention to the type of title deed. (For this, see: Types of Title Deeds in Cyprus) or (See: Can I buy a house with an exchange title deed?)
- Investigate whether there are situations such as foreclosures and mortgages on the title deed.
- Before buying a villa for sale in Famagusta, make sure you view the house in person.
- If your villa has its own garden, make sure that the garden is also included on the title deed.
In addition to Famagusta, the region of Iskele has also become an important tourism destination over the recent years. With the increased demand for real estate in the area, Iskele is also a good consideration for those looking to invest in property in Cyprus. For advice on buying a villa in Iskele, you can check out this article: Advices for Buying a Villa for Sale in Iskele
