Cyprus Real Estate: Why 2025 is the Best Year to Buy

[@KavitaCudby]

Loved the rant!

[@WatchingTheo]

Prices go up, but people Don’t buy. The prices are inflated and houses stay on the market for years.

[@juliedonnelly1257]

There out priced.i looked dont think so there live in a dream ...

[@daruman8265]

This statement doesn't make sense. Price go up due to the demand😂

[@Daniel-fe6ch]

@@daruman8265 Some people are greedy, they think the house is worth 1mill, when its not, and it will not be sold. They are not in a hurry to sell, they are waiting for someone that pay overvalue. Remember looking at a offplan 3-4 years ago, the house was priced at 500k, and they hadnt start building it, and then the war happen, and a lot of people moved to Cyprus. now the house is priced at 1.2mil, and construction is not yet completed.

[@DJBILINGUAL]

This is true for some properties. This is why you need to figure out what places are actually selling for and make offers based on facts not some fictional listing price. Some of these people have their fingers crossed that some foreigner fool is going to over pay. Which sometimes they do. Most the time they just don’t sell. You just need to learn the market and help them understand what places are actually selling for. They can take it or leave it. In 5 years sure they will sell. But they are asking for prices as if that is the current market rate lol.

[@malaika2940]

Great information. Being selfish - I hope they continue to take their time to develop the Marinas! Gives me time to buy something! lol

[@Rico]

Haha, I can understand, typical FOMO.

[@TsetsiStoyanova]

What would you say about mainland Greece around the coastline, what is your prediction for that?

[@alpha2470]

Great info bro ! Love my birthplace and now residing in Australia but considering to come back because you’re videos have really stirred me up 😂

[@Rico]

Cheers mate! Thanks for your comment! There are so many Cypriots in Australia haha! Come back home for a holiday :)

[@viktorkelic2502]

Bought 2 apartments in last 2 years. Very hard to find good a deal. Properties are long on the market because the prices are really overflated. You said in one video ,one bedroom apartment for as little as 300.000. You can buy a nice house for that 10 minutes from Aiya Napa!

[@zoltanrethati7736]

True. However, reasonably priced apartments with prime locations are sold in a few days or weeks. Red flags are advertisements posted on bazaraki for months or reduced price.

[@conteberengario7314]

With 300.000 you get a luxury penthouses in Pescara Italy, with services, buses and 2 hours drive from Rome. No idea why people waste money on islands when you have Greece, Spain or Italy as options...

[@apbarraza2]

Hi Rico, Great video, as always! I’ve heard that banks often undervalue resale houses to minimize their risk. In your experience, does this also happen with new developments?

[@Rico]

Hey, yes, that's a bank related "issue" and has nothing to do with the property per se. Cyprus banks became very risk averse.

[@Zephyr-dq9yr]

Hey Rico very nice video! Can you explain a bit what do you mean when you say Paphos is going to become the new Limassol, and Peya the new Paphos? Limassol has a population of around 200,000 people (urban area) while Paphos sits around 70,000. Are you suggesting that Paphos is going to more than double in size? That would be a huge claim... Same argument for Peya. Thanks!

[@alexfry8985]

Hat Larnace nicht den Bau vom Hafen gestoppt? Wie geht es da weiter?

[@Daniel-fe6ch]

Most of the new off plan houses have really really small lots, its like living in a townhouse.

[@vincenzoeszenyi5375]

Hi Rico will you ever buy a property in cyprus or would you consider self building your own .

[@Rico]

Hi, great question. At the moment I’m reinvesting all my money into my business and Crypto. However, my plan is to build my dream house when I get my first kid.

[@alicjajuszczak-mw5bv]

@@Rico when you have a child you won't have time to build a house, forget it ;p GREAT VIDEO 👍

[@DJBILINGUAL]

So accurate about the insane listing prices and these guys trying to sucker people into insane price points for mediocre buildings. Whats worse is that people are actually buying these places lol. It took me a whole lot of time to educate myself on the actual fair market value of a property.

[@Rico]

Good job! Feel free to share more insights if you have, I'm sure people will appreciate it.

[@DJBILINGUAL]

@@Rico Getting unbiased opinions from local investors helps a ton, i have a neighbor and a civil engineer that i'll run property prices by to get their opinions. Just make friends. Anyone who benefits from you buying something be careful. Agencies and agents 85% of the time have BS me on a deal being good when its severely over priced and also just a complete shit investment. You really have to be your own advocate if you're new here and don't listen to anything anyone says. People will lie and try to hustle the hell out of you as you know. My strategy when I first came here was simply to low ball the hell out of everything just to see what price points people bite on because that was my only way to get some truth. For example if I see something at 400k on a resale, i'll say they are crazy and no way i'm paying more then 270k just to see how they react. If they are offended vs still willing to hold a conversation, this helps me gage things lol. On new builds i've literally had people drop prices from 600k to low 400's... it's a joke and you have to be very careful out there and feel things out. Most of all just make friends with other local investors that know the market and have nothing to gain from you. Sometimes foreigners will buy whatever, and they are making lifestyle purchases, so I don't consult with them.. Also i'd note listing prices almost mean nothing to me, you need to learn what places are actually selling for. What does a 3 bedroom townhouse sell for in Chloraka with sea views and a pool / 15 min walk to the beach etc.. not the listing price of the townhouse. That would be my advice to a reader. It's tricky out here, and can be hard work, but worth it. Might make a service out of this one day no joke. It takes months of going through bs to know what price is correct on a place and i'm still learning.

[@DJBILINGUAL]

@@Rico I wrote a whole thing out. Not sure what happened. To keep it simple take your time, talk to local unbaised investors and be your own self advocate.

[@Rico]

@@DJBILINGUAL Thanks! Yeah, sometimes KZbin comments are buggy, that's unfortunate, but still appreciate your help!

[@DJBILINGUAL]

​@ actually curious what your strategy is too. Maybe one day we get a chance to talk in person, I don't know if you're actively investing or not right now. I try to get data on what sold and for how much in certain areas.. another thing I do is low ball the hell out of my offers just to see how the seller reacts. Like if the listing price is 480K i'll just ask if it would crazy to offer 330K .. I mean I really low ball and if I see they are willing to consider it.. this gives me a pulse on the real price of things. I've seen people drop the price like crazy just by asking. New builds will easily drop 100k sometimes. What matters is what are people actually willing to pay, not what the listing price says. Comparables are tricky here.

[@user-jl8ie6vb8r]

They talk about these marinas for many years but nothing happened yet. It can take another 10 years..

[@Rico]

I know :)

[@EEE-dn3jn]

@RicoGo, I agree that most of the newly built projects in Paphos and the closest area look like duplicated, unattractive boxes. What new or recently built projects would you recommend considering for a budget of 500,000 for a 3-bedroom property? Yesterday, I was in Paphos and explored the options, but even the off-plan projects seem to resemble clones within this budget.

[@Rico]

Hey, in my previous video I showed one of the most interesting projects I’ve ever seen in Cyprus. Feel free to watch it or reach out via [e-mail] and I can send it to you directly.

[@joarvatnaland6904]

That would be exactly the type of apartments I would be looking for 😄

[@Rico]

@@joarvatnaland6904 That's great! Send me a mail and we speak soon.

[@박범주-k1s]

Thanks always Rico for good information. I have a small property in phapos, but I can not find current price information on the property. Where can I find accurate information of current selling and buying price at?

[@Rico]

Hey, the best way to good about it is to contact an independent property valuer. I can put you in contact with my partner that does property valuations in Paphos for many years.

[@joristube]

Why is there no airport near limassol? How are the connections to the airports?

[@Daniel-fe6ch]

Cyprus is a really small island, its take 30min maybe from Limassol to Larnaca airport. You cannot have airport in every city in such small island. You have buses to Limassol, but I would always recommend a rental here

[@stevearchibald5627]

Don’t forget they add on 20% VAT on the sale of a new property. Something which is not made clear in the advertisements. So a Villa advertised as 500,000 euros will cost you 600,000 plus transfer fees, etc

[@Rico]

Some prices are inclusive VAT, other are exclusive, but I'm sure any developer will make you aware of all costs. At least I hope so...

[@dreamxo8]

Hi Rico, thank you so much for this video. I’m an entrepreneur from Europe and I would like to move to Cyprus with my partner and my dog ​​this end of the year, I would like to buy a house near the sea in Paphos. Do you have any recommendations? Can you tell me how much money is needed to move to Cyprus safely and also to invest in a new 3-4 bedroom villa? Thank you so much, I love your work 🙏🏼

[@Rico]

Hey there! First, thanks for your comment and second, I think your plan is amazing. I’m sure you will love your life in Paphos. Have you ever been here before? As said in the video, my best tip is to come to the island first, make some connections and then you get a better idea of what suits you and what you get for your budget. If you want our assistance, feel free to reach out via Tax.one. Best of luck, Rico 👋🏝️

[@dreamxo8]

@ Thanks Rico, of course I will contact you when we are ready to move, it was already planned!! 😄☀️ It would be great a video on real estate loans like you suggested at the end 😊 Thanks for all you do! 🤝🏼

[@Rico]

@@dreamxo8 Super! Yeah, it's a very popular topic many people ask for, I'm currently talking to some experienced bankers as I want to do this video in an "interview style" - Stay tuned! :)

[@Daniel-fe6ch]

I would say 500k and up, you will need 30% or more deposit on a bank loan in Cyprus

[@DJBILINGUAL]

@@Rico good idea. I got some decent contacts if you want. You probably already got that on lock.

[@vangelisevangelou]

Hi Rico. Are you buying anything for yourself? What area of Pafos would you like to live? By the way, you should say insulated, not isolated.

[@Rico]

Hey! Yes, I'm going to build my dream house with a Paphos developer, when the time is right. I like anything close to the Sea caves. Even Peyia is a lovely little town in itself with amazing views, it's own little infrastructure, amazing nature, beaches and my gym. Ps: Thanks for the insulation note, in Germany we say "Isolierung" that's why I say it like that haha.

[@naseeruddin3100]

👏👍👍💕👍👍👏

[@shalimarbremen1235]

Hallo Riko Can we Meet Today I am in Paphos and wanna talk to you Regarding property Best wishes Robby

[@magnuswilliams8643]

Hello Rico, Great video! I am moving to Cyprus from Norway as a single 33 man, and I have established my company here already. I work from home and don't need anything else than my PC. Which city is better for renting, Limassol or Paphos? I want to be no further than 15 minutes walking from the beach and a good view with a luxury standard. Would love your expertise! Best regards

[@Rico]

Hey Magnus, do you prefer a city lifestyle or more relaxed? I suggest to visit both, Paphos and Limassol for a few days. This will give you a good feeling for both cities. For me, in Germany I lived right next to a busy street and so I love living in the mountains now, with much more peace. However, other people grew up in villages and they are bored of it, so they prefer Limassol.

[@magnuswilliams8643]

@@Rico I prefer a bit of both, and I visited last summer, but I will stay a full week in Limassol and Paphos in February!

[@Rico]

@@magnuswilliams8643 Perfect, sounds like a good plan - keep me updated!

[@magnuswilliams8643]

@@Rico Thanks, I will!

[@magnuswilliams8643]

@@Rico Hello Rico, I wanted to come to find a place to rent in Paphos or Limassol, but I am not getting any answers on email or whatsapp from searching on Bazaraki. Is the best idea to visit Cyprus and then go to the rental offices personally? My budget is minimum up to € 4 000 per month. Thanks!

[@garfieldbennett4140]

Is the crypto Tax as good as Malta? Do you think Cyprus could be the Blockchain heaven 2.0?

[@Rico]

I know quite some crypto-heavy people in Cyprus, however, I wouldn't call Cyprus a "Blockchain heaven" yet... For that I'm missing official information about the taxation and regulation. As of today, the correct crypto trading taxation is via the 12.5% corporate tax in a company.

[@DJBILINGUAL]

What are your favorite areas of Paphos for investment by the way? I have a gut feeling about Kissonerga personally it just has this up and coming luxury vibe to me. I don't know how to explain it. Maybe Chloraka would be my second choice. I see potential in these places.

[@Rico]

I agree, Western Paphos until Peyia has the most potential. All the villages around here are beautiful, elevated and peaceful. Foreigners love this area. Whether it is Chlorakas, Kissonerga or Emba is secondary, all of them will have similar growth rates, however if you ask me which city I like the most, I'd say the closer to sea caves, the better. It's just beautiful there.

[@DJBILINGUAL]

@@Rico Sea Caves is very nice. I'd say maybe the most luxury area and almost kind of niche. For me it's a bit too far for living but man is it peaceful as hell. Sometimes it's hard to try and mix an investment with a place you also want to live. It's been very difficult to choose man! So many great places.. I need to explore Emba more, Tala is also so nice but also too far for my taste. Kissonegra and Chloraka seem like a nice little mid point. Only thing I really wish for is more walkability. Thats one thing I miss a lot.

[@Rico]

@@DJBILINGUAL I get your point. I'm currently in Emba (I don't want to mention it in the video) and I like it a lot. In the beginning I was afraid that I'll not walk a lot, but 1) during summer it's too hot anyway and 2) it's a 10 min drive down to the sea and Chlorakas promenade. As I record a lot of videos and have many calls, and also I value privacy/security, I can't live in a busy place. When I lived in central Paphos I had kids knocking on my door asking for pictures, haha.

[@DJBILINGUAL]

@ I was looking at a few rentals in emba months ago, its def peaceful over there. What part of central Paphos did you live in before? Really not a fan of universal area at all don't get why people are so crazy about it, kato paphos i love the walkability of it, I used to be able to take a nice walk to the spa / gym every day or sea... loved that. but there's not much of a community of locals just all tourists which turns me off as I want to be cool with my neighbors etc.. but still great to meet lots of travelers and network, and meeting lots of interesting entrepreneurs at my spa. I feel like west Paphos is being slept on and people just don't really know whats up yet. Actually I forgot the venus beach area man.. thats a pretty sweet spot, it's the edge of tomb of kings and the start between life and chill areas of west paphos you know what i mean? I think venus beach is going to be even more premium then it already is and will pop off. Chloraka is good because it has a silly stigma from the situation years ago. So i think it's a little undervalued. Of course like you mentioned these other areas will benefit from the development of the possible Marina if built. Anyways next time i'm in Emba i'll make sure to knock on your door for pics... haha jk jk... actually i'd probably harass you with real estate talk

[@Dream4Design]

Great Video, Bravo! It is bubble, no doubt. But inflation and money printing is so high! prices will never go down, inflation just will eat them. And, locals are smoking some weed what only they know, and prices are going even higher. Worldwide market is open, Cyprus is overpriced, completely. Problem is not price, but quality. Cyprus real estate is dumb, ultra low quality. If you have drop of sense, buy land and build your house. If you are Russian, buy apartment, better 3 apartments.

[@hydroxartzg8368]

Im looking for a 1 BR appartment and it's just insane. You need to pay 1000 for a decent one but only 1200 for a villa with 3 BR and an own pool. No sense

[@Rico]

Are you talking about renting? That's a different topic and there are some tips to find good deals, ofc the public marketplaces show the most expensive prices, some people just repost other rental properties for a surplus.

[@sekmingasis]

4 years ago price were low🎉

[@p.c.h.6721]

The current tax benefits are not going to last much longer, it's very risky to buy a property in Cyprus.

[@Rico]

I’m directly connected to the tax authorities in Cyprus and there is no plans to change the current tax system.

[@juliedonnelly1257]

I don't belive that ...sorry but cyprus is over priced ​@@Rico

[@Hansgerch823]

Bestimmt nicht über deinen Link! Du und dein deine beiden Kumpel habt damals schon Leute mit euren PBN Links angezogen!

[@Rico]

Was?

[@MyNickNameIsNice26]

Small lots with box-like designs that I would never want to live in. I also hope there will be better value for money in the future instead of those 'copy-and-paste' projects which are sadly seem to sell even though quality is abysmal.

[@Annony25]

Hi, You should really do a video about the title deeds in the Northern Zone. Hundreds of people buy there not really understanding that exchange and allocated title deeds are internationally not recognised and at some point in the future the pre 74 real owners will claim it back or demand payment.Also, there's criminal cases going on in Cyprus against people who have purchased stolen lands, buying and selling land and property without the consent of the true owners

[@Rico]

Hi, I did a video about that. It's also linked in the video at 10:29

[@EEE-dn3jn]

Hi Rico! Thanks for sharing your thoughts. Did you buy any property in Paphos? If so, what type of property and in what area of Paphos is that?

[@Stefan-ms6so]

Man is Cyprus a country that needs electricians, plumbers and professionals in this sort of domains?

[@zoltanrethati7736]

Absolutely yes. If you know any of those trades well, your phone will be ringing all day long.

[@herzl67]

What about Turkey and North Cyprus? Is the border well guarded and are lots of migrants infiltrating from there?

[@Rico]

The border is extremely well guarded and no one can easily cross the border.

[@DehidronTube]

İf you add on description hastah like #cyprus etc then your followers can be millions 😊😊