Why Cyprus and Resale Real Estate?

Anastasia Yianni, CEO of Cyprus Sotheby’s International Realty, on the advantages of buying resale property: “Everyone chooses between resale and new developments based on their preferences, but with resale, you always see what you are buying. At the very least, you see how your home will look; you don’t have to imagine anything. That’s a plus. The downside is that you don’t always know what’s inside—what the wiring is like, the pipes, etc. But at least you don’t need to visualize anything—there’s your house, your garden, your view!”

If you are unsure whether to choose a new development or resale property in Cyprus, read this article – New Developments VS Resale Homes: 5 Main Advantages in Favor of New Homes.

How can you extend your stay in Cyprus?

Pink Slip – Temporary Residency

If you want to spend most of the year in Cyprus but are not yet ready for permanent residency, the Pink Slip is an optimal solution. It allows you to stay on the island for 365 days a year and is renewed annually.

Key points:

- You cannot leave Cyprus for more than three consecutive months, or your status will be revoked.

- Sufficient income requirement: at least €24,000 per year for the main applicant, plus €4,800 for a spouse and €3,600 per child.

- Funds must come from abroad, be confirmed by a detailed bank statement for the past 12 months, and be held in a Cypriot bank account.

Source: Ministry of Interior of Cyprus

Category F – A Path to Permanent Residency for Resale Property Owners

This option is suitable for financially independent individuals who plan to live in Cyprus permanently.

Main requirements:

- Guaranteed annual income of at least €9,568.17 + €4,613.22 per dependent.

- Income must come from abroad.

- Purchase of property (new or resale) of any value.

- No requirement to work in Cyprus.

Category F permanent residency can be extended to spouses and children under 18.

Processing time: Approval currently takes at least three years. During this period, you can obtain a temporary Pink Slip.

Source: Ministry of Interior of Cyprus

Comment from Anastasia Yianni, CEO of Cyprus Sotheby’s International Realty, on Category F Residency:

 “Category F is suitable for those who are not in a rush to obtain permanent residency and are willing to wait a few years. The advantage of this category is that the property price does not matter when applying, meaning you can choose either a new development or a resale property. The key is to demonstrate stable income from abroad.”

Popular Regions for Buying Resale Property in Cyprus

The highest demand is in cities with well-developed infrastructure and convenient locations:

• Limassol – Cyprus’ financial center, home to top residential complexes and a thriving business hub. As the largest city in Cyprus, both new developments and resale properties in Limassol are highly sought after.
• Paphos – A city with historical charm and a popular resort among Europeans. Interest in Paphos real estate is growing, especially for mid-range villas priced from €500,000. Notably, singer Shakira purchased a home in the Paphos region.
• Larnaca – A great balance of affordability and comfort. The city is actively developing, and its property prices, combined with proximity to the international airport, drive increasing transaction volumes.
• Ayia Napa and Protaras – Ideal locations for vacation homes and rental investments. Many buyers look for a “seaside getaway” here.

Risks to Consider When Buying Resale Property in Cyprus

Any real estate transaction requires careful attention. Key risks include:

• Lack of Title Deed – Not all properties have ownership certificates, especially those built before the 2010s. While not always a problem, this requires legal review.
• Outstanding Debts – Unpaid utility bills or an existing mortgage on the property.
• Rental Restrictions – Some complexes prohibit short-term rentals.
• Utility Connection Delays – Water, electricity, and internet may take time to set up.
• Problematic Neighbors – Budget-friendly areas may sometimes come with noisy surroundings.

According to Anastasia Yanni: “It is not dangerous to buy primary and secondary housing if a full check of documents has been carried out. Just packages of documents for primary and secondary forms. If we talk about danger, then this is, first of all, the condition of all systems, non-existent structures, the house itself. To what extent does this correspond to future expectations, because earlier they built according to other principles.” You can read about this in the article — Construction in Cyprus: rules and standards.

Why Work with a Trusted Real Estate Agent?

Buying property is a major decision, and mistakes can be costly. That’s why professional guidance is essential. Agents at Cyprus Sotheby’s International Realty can help:

• Find the best property within your budget and requirements.
• Reduce risks 
• Verify documents and ensure legal transparency.
• Negotiate and protect your interests.
• Avoid common pitfalls when buying property.

Conclusion: Is Resale Property Right for You?

Living in Cyprus is not just a dream — it’s a real opportunity. Resale property in Cyprus allows you to move in immediately and save on VAT. The question is: do you prioritize a brand-new home with modern technology and fast-track residency (6-8 months), or do you prefer to move in right away?

If you are looking for a home in Cyprus and want a seamless experience, contact the experts at Cyprus Sotheby’s International Realty for a free consultation. We’ll help you find the perfect home—without any surprises.