Cyprus is considered a safe country, perhaps the safest country in the EU. The importance placed on security, however, when it comes to the real estate market has been rising. More security increases the value of a property.
According to Interpol, Cyprus only has 5 per cent of the crime in the UK, 6 per cent compared to Germany and 14 per cent to Spain. Despite this, crime in Cyprus is on the rise, as it is everywhere, and this has started to worry homeowners.
This issue is particularly significant when it comes to holiday homes that remain vacant for a considerable period of time.
In the area of Famagusta where there are many empty holiday homes for months, the level of theft is remarkable. Stolen items consist all sorts of things, including cheap objects, such entrance mats, garden lamps and even ceramic pots. Of course, there are more ‘profitable’ thefts such as kitchen appliances, televisions and air conditioner compressors.
The criminality of an area directly affects the prices of real estate, for example in Kato Pafos and the centre in Germasogia and parts of Ayia Napa prices are about 50 per cent lower than similar units in nearby, safer areas.
Even in areas with periodic criminal behaviour, like near Tsirion stadium in Limassol with the well-known hooliganism at football games, market interest is lower than in corresponding areas elsewhere. Another more recent phenomenon is crime from refugee settlements.
The elderly in particular feel very insecure and vulnerable and our police response is not what it should be.
Here are some recommendations of basic measures you can take to protect your property:
So, the cost of increasing security is around €5,000-€10,000 for a residence depending on what you adopt and to what extent.