Real Estate in Kyrenia, Cyprus
Last updated on Nov 01, 2024
Summary: Expats and retirees talk about real estate in Kyrenia, Cyprus? How do you find a home in Kyrenia? Should you buy or rent? What is the cost of housing?
How do I find a place to live in Kyrenia?
We asked expats how they chose their neighborhood and found a place to live. They answered:
"Finding a place to live in Kyrenia involves several steps. First, you need to determine your budget and the type of accommodation you're looking for. This could range from a small apartment to a large villa. Next, you should research the different areas of Kyrenia to find a neighborhood that suits your lifestyle and preferences. Some popular areas include the city center, the harbor area, and the outskirts of the city, which offer more peaceful surroundings. Once you have a clear idea of what you're looking for, you can start your search. There are several online platforms where you can find listings for rentals and properties for sale in Kyrenia, such as Cyprus44, Cyprus Property, and Rightmove Overseas. These platforms allow you to filter your search based on your preferences and contact the property owners or agents directly. In addition to online platforms, you can also contact local real estate agencies. They can provide you with more personalized assistance and access to properties that may not be listed online. Some reputable agencies in Kyrenia include Ian Smith Estate Agency, Fraser Meridies, and Busy Bees Estate Agents. Visiting Kyrenia in person can also be beneficial. This allows you to explore different neighborhoods, visit properties, and get a feel for the city. You can also check local newspapers and notice boards for property listings. Once you've found a property you're interested in, make sure to thoroughly inspect it and ask any questions you may have. If you're renting, read the lease agreement carefully and make sure you understand all the terms and conditions before signing. Finally, if you're planning to move to Kyrenia permanently, it may be worth considering buying a property. The process can be more complex and requires a lawyer, but owning a property can be a good investment and provide more stability," remarked one foreigner who made the move to Kyrenia.
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What is a typical expat home or apartment like in Kyrenia?
"A typical expat home or apartment in Kyrenia, is often a blend of modern and traditional Mediterranean styles. These homes usually have spacious living areas, often with open-plan designs to maximize natural light and air circulation. The living room often opens up to a balcony or a patio, offering stunning views of the sea or the mountains. The kitchen is usually fully equipped with modern appliances, and the bedrooms are comfortable, often with built-in wardrobes. Many homes also have a master suite with an en-suite bathroom. The bathrooms are typically modern and well-maintained, often featuring both a shower and a bathtub. Outside, there is often a private garden, a swimming pool, or a barbecue area, perfect for outdoor entertaining. Some homes also have a garage or a private parking space. Many expat homes are located within gated communities, offering additional security and often access to shared amenities like a gym, a communal pool, or a playground. Despite the modern comforts, many homes retain traditional Cypriot architectural features, such as stone walls, archways, or wooden shutters. The overall atmosphere is one of relaxed luxury, combining the comforts of modern living with the charm of Mediterranean life," remarked one member in Kyrenia.
What is the average cost of housing in Kyrenia?
If you are thinking about moving to Kyrenia, cost of living in probably a key consideration. Expats commented about the cost of housing:
"The average cost of housing in Kyrenia can vary greatly depending on the type and location of the property. For instance, a one-bedroom apartment in the city center may cost around €500 per month to rent, while a three-bedroom apartment in the same area could cost around €1,000 per month. If you're looking to buy property, a standard apartment in Kyrenia might cost around €70,000, while a villa could cost anywhere from €200,000 to over a million euros. However, these prices can fluctuate based on market conditions and other factors," remarked one foreigner who made the move to Kyrenia.
Should I buy or rent a home in Kyrenia?
If you have not spent a lot of time in Kyrenia, you should rent before even thinking about buying. We asked expats there about the buy vs. rent decision:
"The decision to buy or rent a home in Kyrenia, largely depends on your personal circumstances, financial situation, and long-term plans. If you plan to stay in Kyrenia for a long period, buying a home could be a good investment. Owning a property allows you to build equity over time and could provide a sense of stability and permanence. On the other hand, if you're unsure about your long-term plans or if your job requires you to move frequently, renting might be a better option. Renting offers more flexibility as you can move without the hassle of selling a property. It also allows you to avoid the responsibilities and costs that come with home ownership, such as maintenance and property taxes. Financially, buying a home requires a significant upfront cost, including a down payment and closing costs. However, it could be more cost-effective in the long run if property values increase. Renting, while typically cheaper in the short term, does not offer the same potential for financial return. It's also important to consider the real estate market in Kyrenia. If it's a seller's market with high property values and low inventory, it might be more difficult to find a reasonably priced home to buy. Conversely, if it's a buyer's market, you might be able to find a good deal on a home. In conclusion, the decision to buy or rent a home in Kyrenia, Cyprus, should be based on your personal and financial circumstances, as well as the current state of the real estate market. It's recommended to consult with a real estate professional or financial advisor to help make the best decision for your situation," explained one expat living in Kyrenia, Cyprus.
About the Author
Joshua Wood, LPC is one of the Founders of Digital Nomad Exchange and serves as Co-President of Expat Exchange. Prior to Expat Exchange and Digital Nomad Exchange, Joshua worked for NBC Cable (MSNBC and CNBC Primetime). Joshua has a BA from Syracuse and a Master's in Clinical and Counseling Psychology from Fairleigh Dickinson University. Mr. Wood is also a licensed counselor and psychotherapist.
Some of Joshua's articles include Pros and Cons of Living in Portugal, 10 Best Places to Live in Ireland and Pros and Cons of Living in Uruguay. Connect with Joshua on LinkedIn.
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