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KEYNOTE ASSETS LTD was established in 2017 in Cyprus by Dr. Noam and Alice Shani, former senior executives in the fields of biotechnology and marketing. The company owns income-generating assets in the Paphos area (apartments for rent and vacation villas – link to website). In 2021, the couple established a private European real estate investment company that has acquired dozens of rental properties in Paphos and constructs multiple apartment buildings in the Paphos city center.
Due to the growing interest in investments in Cyprus, KEYNOTE ASSETS also offers guidance and consultancy to investors interested in investing in the Paphos area.
The company brings years of experience in the Paphos market, including extensive personal experience in purchasing a wide range of properties, working with all types of suppliers – from end-to-end apartment renovations with local contractors to dealing with the Cypriot land registry office, lawyers, accountants, architects, and local designers, as well as property management and cleaning companies.
We offer to accompany you through a process similar to the one we have gone through ourselves, tailored to your individual needs, including the search and acquisition of lucrative properties in the Paphos area that will be registered in your name within the Cypriot land registry office.
Keynote Assets commenced its real estate operations in Cyprus in 2017, focusing on the Paphos area.
Over the years, the company has supported hundreds of investors who have invested approximately 20 million euro to date in different assets on the island.
The company boasts a professional team engaged in a wide spectrum of activities, ranging from assisting external investors, identifying and acquiring properties, to renovation and long-term property management.
In 2021, the company established a European real estate fund that has invested around 10 million euros in real estate properties in the Paphos area.
Investing in real estate in Paphos is a straightforward opportunity with high future potential. Cyprus in general, and Paphos in particular, are rapidly developing and attracting investors and tourists from around the world. Real estate prices in Paphos are still relatively low compared to other areas on the island, and they have yet to reach their pre-global economic crisis peak – a decade ago.
Since then, real estate prices have been steadily rising over the years, showing no signs of slowing down.
Now is the optimal time to be part of the real estate market of Paphos, whether to develop, build, or acquire a property with competitive returns and prices compared to the western world.
In Paphos, your dream vacation home can become a reality! Find your perfect getaway in Paphos at reasonable prices. Here, you’ll discover a sanctuary less than an hour’s flight away from home.
Paphos offers vacation homes with European standards at reasonable prices that one can only dream of in the country. From luxurious apartment complexes near the sea to traditional stone houses and villas with private pools, all housing options are available in the coastal city of Paphos and its surroundings.
Beyond the environmental tranquility and proximity to home, purchasing a private property in Cyprus comes with local benefits. For first-use properties, you’ll only pay 5% VAT, and with an investment of over 300,000 euros, you can obtain permanent residency for life!
Thinking about relocation? Moving to another country to start a new life… but at the same time, being just a few hours flight away from family, living by the beach, and finding a better balance between quality of life and the cost of living? If so, you are not alone. Many people are discovering the benefits of living in a small and peaceful country.
From stunning beaches and warm climates to private English education systems for children and friendly locals, Cyprus has a lot to offer.
The budget needed depends on various factors, but for a rough estimate:
With €150-250 thousand, you can acquire small second-hand or new apartments in a good neighborhood.
In the range of €250-400 thousand, you can purchase luxury second-hand apartments or new apartments and small cottages directly from the contractor.
With €400-600 thousand, you can buy a second-hand villa with three bedrooms and a private pool or a new villa from developers with a pool.
Additionally, there are opportunities for properties for renovation at relatively lower prices or high-quality properties in more distant neighborhoods or mountain-side villages. However, evaluating the risks associated with such investments is crucial, and with our experience, we can assist in assessing those risks.
In light of rising prices and a decrease in the supply of second-hand properties, the purchase price difference between a new and a second-hand property is shrinking, making the purchase of a new property much more relevant. Of course, there are advantages and disadvantages to each option:
Disadvantages of a new property:
Advantages of a new property:
From the decision-making moment, the pace of progress primarily depends on you. From our experience, the average time for purchasing a second-hand property from the decision-making moment until the purchase and registration of the property in the Land Registry takes around 3-4 months. For new properties from developers, the time depends mainly on the construction stage of the project.
It’s not mandatory but recommended. It greatly depends on your personal management preferences with the property. We always advise opening a local bank account to facilitate the ongoing management during the purchase process and the continuous handling of the property throughout the year.
No! Your money is yours and will only go through entities you choose to work with. We always recommend working with reputable and trustworthy entities in the area. For example, we conduct all our real estate transactions through KPMG offices in Paphos, one of the world’s largest accounting firms (with over 100,000 employees worldwide).
Maximum reliability and efficiency – that’s our motto.
Currently in Paphos, you can expect an annual net return of 6%, after all expenses in Cyprus. Generally, rental prices are proportionate to the property price, so various types of properties will yield a similar net return.
Yes, it is possible to get a mortgage in Cyprus. The bank in Cyprus can provide a mortgage of up to 70% of the investment. The bank will typically want to see that you have the ability to make monthly repayments based on your income. It’s important to note that due to inflation, mortgage interest rates worldwide have increased significantly.
Not really. There are no significant advantages to having a European passport in the purchasing process, except for a slightly lower interest rate when obtaining a mortgage.
According to current law, permanent residency is granted for life to buyers of new properties. The property must be valued at least 300,000 euros plus VAT.
Read all about it in House prices in Cyprus – 2024
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