Land for Sale
Why Buy Land in Cyprus
The land parcel is traditionally known as the long-term investment of Real Estate. The difference, however, in comparison to plot parcels is that land is offered for sale in an irregular shape and it can be exploited only as a long-term investment. Although it gives the opportunity to the buyer to have numerous options on how to use the land later on, when it is purchased, it cannot be developed at once. The land could also be purchased as an investment opportunity and wait for it to later appreciate in value and re-sell. According to the land building zone, density and coverage, it could also be divided and be developed into a residential property such as a house, multiple houses, or block of apartments depending on the size of the land or into a commercial property such as offices, factory, or a retail center. At Kazo Real Estate, we have created a list of the most attractive areas of land in great locations to satisfy our client’s needs, whether that is real estate investment or looking for a great location to build your ideal home or business building.
Benefits of buying Land in Cyprus
Cost benefits in buying land
There are numerous benefits of buying land, either as a re-sale investment or for future development. Initially, there is a zero cost in maintenance and low annual taxes, compared with all other real estate property types. Once land is purchased, very little costs have to be incurred due to the nature of this investment. The land is risk-free from any kind of disaster or depreciation. Due to their irregular shapes and sizes, land comes with a cost when an investor would proceed in dividing it into plots or proceed in developing a project. However, after covering that initial cost, the profits are tremendous when it will be divided or developed.
Investment benefits in buying land
Land parcels have a gradual, but more solid appreciation in value in the long term, as compare with the other types of properties. It might take years to increase in value, but it will pay off eventually since a land parcel could be bought relatively cheap and resold at a much higher price. The value of land depends firstly on the building zone. Most precisely, residential zones are the most demanded and profitable. Secondly, the location plays a significant role in its value and also the amenities that are offered, such as water and electricity provision. Another important factor to consider is that the population is growing, so naturally, the demand for land will increase, and therefore its value will rise too. Due to the high availability, land has less competition compared to residential and commercial real estate, which makes it easier to research and identify better opportunities for investment.
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