In the years I’ve lived in Cyprus, what properties people want to buy have changed a lot.
In the 90s, my British friends wanted standalone villas, looking for the space and sense of grandeur that comes from owning a swimming pool and hosting barbeque parties, something often out of reach in the UK.
Fast forward to the present, and my friends say they would want a luxury apartment first their first home in Cyprus. Though, they also say they would keep an eye out for land sales where they could build their dream villa.
“Luxury apartments are becoming much more popular,” architect Argyro Epaminonda tells me, confirming it’s not just my friends’ tastes that have changed. “Clients prefer apartments because they can be as luxuriously designed as a villa, just on a smaller scale”.
Having lived in a luxury apartment in Cyprus, I can tell you the advantages of living in one over an apartment.
There’s been a boom in luxury apartments in Cyprus
More affordable
Luxury apartment prices have risen in response to increased demand in Cyprus, but they remain generally cheaper than a villa. You will also pay less on transfer fees and property taxes, because those fees are based on land value.
There are often management costs when living in an apartment block, with fees going towards maintenance costs. This does leave you without the worry or responsibility of keeping a garden or pool in check, though.
Greater options
Once considered the ‘poor relation’ of villas, apartments were very basic residences, predominantly situated in town centres. Nowadays, you can opt for a luxury apartment or an American-style penthouse and awaken each morning to stunning sea or mountain views – just as you would in a villa.
If you buy off-plan, you can often work with the developer to customise your home, too. Changing fixtures and decorations to suit your tastes.
An apartment is an excellent way to embed yourself in a new country
Ready-made community
Living in an apartment, I found myself surrounded by the Cypriot and British community. I met people who knew their way around Cyprus or who were discovering it like myself, and this is where I made my first friendships. You can be a little isolated in a villa and need to discover new activities and people to feel comfortable.
Though, there is always the risk you end up with a noisy neighbour. So, if you have the chance before you buy, you should try and get to know the people in the block.
Central locations
Luxury apartments are often found right in the centre or town, giving you easy access to food shops, restaurants, and cafes, and you can immerse yourself in Cyprus’s culture easily if you wish. They’re also often built in locations that are just short walks from the beach, too.
You may be looking at villas to get away from it all, but if you want easier access to amenities and entertainment, then an apartment may be for you.
Good investments
Because of their central location, apartments are well-suited for short or long-term rentals. And, they’re only becoming more in demand, thanks to the growing student population. One advantage of buying to let in Cyprus is that there is no regulation on rent prices currently, so you can charge what you think is appropriate.
While you can let out a villa, you will find a wider market are interested in an apartment than a villa, which is more suited to the holiday market.
A luxury apartment doesn’t have to be part of a large block
There are legal difference between the two types of property that are worth learning about before you start your search. Though an estate agent or a solicitor will be able to answer many of your questions.
Unlike in the UK, the majority of Cyprus’ properties are freehold. This means you have both the freedom to make changes to your property, but you do have more legal obligations for what occurs on your land.
Title deeds are in important when buying property in Cyprus and the key difference, legally, between an apartment and a villa is that villas will have individual title deeds and apartments are more likely to have shared title deeds. Check carefully that your apartment (or unit) is clearly established in the title deed so there can be no disputed ownership.
The coastal city of Limassol has seen a lot of development in particular
An apartment can be the perfect first step into the Cyprus property market—affordable, easy to manage, and a great way to experience life on the island. With strong rental demand and lower maintenance costs, it’s a smart investment that gives you time to explore different areas and refine your dream of villa ownership.
Plus, starting small can open bigger doors. As your property grows in value, you’ll be in a stronger position to upgrade when the time is right. You’ll also gain firsthand experience navigating the market, making your future villa purchase smoother and more rewarding. Your dream home is still waiting—but an apartment could be the key to getting there.
