Investment Property with Hospitality Potential in Derynia, Cyprus
€3,500,000
Cyprus
House
property type
1 week ago
listed
The Habio take
AI summaryA prime commercial building in Derynia, this substantial 1,950 square metre asset is ideal for hospitality or residential conversion. Located in the Famagusta district, this investment promises high-yield opportunities.
- investment
- tourism
- hospitality
- commercial
- city
Highlights
- 1,950 square metres of potential
- Currently configured as a guesthouse
- Strong rental market in Paralimni
- Rooftop development options
- Located in a growing tourism region
- Exceptional investment value
Worth knowing
- Requires active management
- Potential renovation costs for conversion
Good fit for: Ideal for investors seeking high-yield opportunities in a growing market.
Lifestyle scores
- Beach
- 60
- Walkable
- 50
- Remote work
- 40
- Family
- 30
- Retirement
- 25
- Airport access
- 50
- Investment
- 85
- Luxury
- 70
- Value
- 80
About this place
This substantial commercial building in Derynia, Cyprus, spans 1,950 square metres and presents a rare investment opportunity. Designed for a high-yield hospitality business or large-scale residential conversion, it is currently configured as a guesthouse featuring 22 distinct rooms alongside extensive communal areas.
The property is spread across two upper floors and a vast basement, each measuring 650 square metres. Additionally, the 650 square metre rooftop offers development potential for a pool, lounge, or even an additional floor, allowing for immediate enhancement of the property’s overall value and future resale price.
Strategically located in the Famagusta district, this asset enjoys a rising market, with an 11% year-on-year increase in residential prices as of 2024, and a forecasted 6% growth in tourist arrivals to the Paralimni-Deryneia municipality. With its strong rental potential, this property provides a unique opportunity as a boutique hotel, wellness retreat, or specialized care facility, capitalising on a burgeoning rental market.
Where you’ll be
Cyprus
Location is approximate — exact address is confirmed by the agent.
Open in Google MapsBuying property in Cyprus
The process of buying property in Cyprus requires careful planning and involves several legal steps. Foreign buyers should budget for associated costs such as stamp duty, legal fees, and transfer fees, which can vary based on the property's value and other conditions.
Foreign buyers must confirm details with a qualified local lawyer as there are differences based on citizenship, and laws can change.
Recent adjustments include the introduction of a 0.4% seller's fee for the Central Agency for Equal Distribution of Burdens.
Sources consulted (2026-07-27): - Purchasing Property - Ministry of Interior - Gov.cy: https://www.gov.cy/moi/en/purchasing-property/?utm_source=habio - Εργαλείο υπολογισμού Φ.Π.Α. 5% για αγορά/ανέγερση κατοικίας - Tax For All - Gov.cy: https://www.gov.cy/mof-tfa/documents/ergaleio-ypologismoy-f-p-a-gia-agora-anegersi-katoikias/?utm_source=habio
Always check the latest legal requirements and fees.
General guidance only — confirm specifics with a qualified local lawyer or tax adviser. Reference
