Where to find a property for sale in Paphos
Cyprus is prospering again. Its superb climate - 330 days of sunshine a year - beautiful beaches and Anglo-friendly culture have kept it a firm favourite with families, retirees and also the yachting set.
The Paphos region - currently enjoy its status as 2017 Capital of Culture - in the west of Cyprus has been well loved by the British for decades for its fantastic beaches, good infrastructure and authentic villages – all within an easy drive of the international airport. There are around 30,000 permanent British residents in this tourist-resort oriented region, and Paphos receives more enquiries for rentals than anywhere else in Cyprus, according to holidaylettings.co.uk.
Investors also have their eye on Paphos - there is a new marina planned at Potima Bay between Kissonerga and Peyia. When built, it will have a capacity of 1,000 berths. This is on the back of various public-realm improvements in the run-up to the Capital of Culture year.
It was back in the run-up to Cyprus joining the EU the market began to boom in and around Paphos, and UK second-home owners Kouklia, Kato Paphos, Peyia, Coral Bay, Sea Caves – a low-density area with lovely views – and Tala for its charming traditional square and its exclusive suburb of Kamares. Most British buyers spend €200,000 to €250,000 on a villa with a pool.
Heading northwards, Polis and Latchi are further rental hotspots abutting the beautiful unspoilt Akamas peninsula where high-end properties at Akamas Bay command around €1 million; or inland, there’s Aphrodite Hills, arguably Cyprus’s most successful resort, where luxury villas (starting around €700,000) sit between world-class golf, spa and equestrian facilities. Apartments there cost from around €130,000.
An excess of stock in many of the coastal developments translates into great opportunities to buy a resale apartment or villa at the bottom end of the market. In coastal Paphos properties fell 20-35 per after the global financial crisis – inland this figure was 40 to 50 per cent. You can get older one-bed apartments for €60,000, or a three-bed villa in the popular area of Tala for around €180,000. If you want a brand new property, expect to pay more.
Paphos is the most Anglo-friendly patch of Cyprus and if that’s what you seek, it’s hard to go wrong. It’s also still a great place for a bargain when compared to the faster moving market of Limassol.
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