How to Start Your Construction Project in Cyprus: Efficient Use of an €800,000 Budget

✔ Goals and Budget: The Beginning of the Journey

The question before you is: how can you invest your funds in construction in Cyprus? It all starts with a goal. One of our clients asked for advice on purchasing a villa for his family with the purpose of living in Cyprus for a maximum of 5 years, followed by either selling it or renting it out. Budget: €800,000.

✔ Case Study: A 220 sq.m Villa

The client was looking for a villa that would meet all his requirements and needs. The main issues were:

• Second-hand homes and villas with outdated layouts and poor energy efficiency.
• New homes with smaller square footage for the given budget, small bedrooms, wardrobes, tiny plots, and many additional costs for improvements that significantly exceeded the budget.

✔ Solution: Build It Yourself

Plot: For €115,000, a 812 sq.m plot was purchased with a panoramic sea view near Paphos.

Project: An architectural project for a 220 sq.m villa was developed, complete with a pool and a garden on the plot.

Construction, Supervision, Legal Formalities: €550,000 – total construction cost including all taxes and fees.

✔  Time

Most importantly, the project was completed in 16 months – the same time the developer had promised for an off-plan villa for our client.

✔ Documentation and Legal Support

All stages of the deal were carefully monitored by our team, starting from consultation on plot selection and ending with the signing of all necessary contracts.

✔ Financial Outcome: Significant Savings and High Value

• Savings: €113,000 saved compared to the initial budget.
• Valuation: After the completion of all work, the villa is valued at over €1 million, i.e., the minimum return on investment is 33.5%, without considering the annual property value increase in the specific region.

✔ “Turnkey” Advantages

Financial Benefit: The actual value of the villa is higher than the costs.

Quality: Full control at each stage of construction.

Comfort: You won’t have to delve into the intricacies of the process—it’s our job.

✔ Your Opportunities

If you have the budget, the desire, and the vision of your ideal home in Cyprus, we are ready to make your dream come true!

📞Contact Feod Group experts  today to explore  opportunities in this market!