Paphos is once again in the lead in purchase contracts by foreign buyers (Europeans and other Non- Europeans) recorded at the Department of Land and Registry by 44.0% in comparison to
Limassol which follows with 23.8%. Larnaca 3rd with 16.8% and lastly
Nicosia with 9.5% and Famagusta with just 5.7%.
During January 2019 a total of 766 contracts of sales of residential and commercial properties and land (building plots and fields) were deposited at Land Registry offices across Cyprus. Of the 766 contracts, 409 (53%) were deposited by domestic (Cypriot) purchasers, while 47% (257) were deposited by overseas (non-Cypriot) purchasers.
Paphos has managed to be in first position and to attract foreign buyers and investors who express their preference mainly in seafront luxury properties (Coral Bay, Latchi, Chloraka and Kissonerga) or modern apartments in Kato Paphos, Chlorakas and Pegeia areas in organized property developments which provide security, convenience and multiple services.
The area of Paphos has become the new attraction for Russian, Chinese and the Middle East and especially for the Europeans buyers and entrepreneurs. The town of Paphos and the entire province is the safest and most secure area on the island, where one can live, work and holiday. The perfect climate along with the new cosmopolitan culture in the region has increased the turnout of foreign buyers and investors. For the last there years Paphos was identified as one of the best cities worldwide to buy a holiday home abroad.
Photo: Seafront Villas in the picturesque Coral Bay area in Paphos
