Paphos Cyprus remains the champion in Sales to Overseas Property Buyers

09/05/2017

Property sales continue to grow for the fourth consecutive month in 2017, both from the domestic and especially from overseas markets and particularly from Russia, China and the Middle East. Paphos continues to have the lead in purchase contracts by foreign buyers recorded at the Department of Land and Registry by 38.5%, in comparison to Limassol which follows with 32%. Larnaca is third with 19.5%, and lastly Nicosia with 6.5%. and Famagusta with just 3.5%

These massive property purchases from foreign investors in Paphos are due to the granting of residence permits when purchasing a property valued at € 300.000 as well as with the new schedule of citizenship with an investment in properties of 2 million euros. Moreover, it is mostly also due to the beautiful natural environment, attractive areas and especially the mild climate of Paphos.
 

The benefits of investing in the European Cyprus Citizenship Scheme can be found here.


Paphos has managed with the continuous and targeted efforts made by local property developers to remain in first position and to attract foreign buyers and investors who express their preference mainly in beachfront villas (Chloraka, Kissonerga, Coral Bay) or apartments (Kato Paphos) in organized property developments which provide security, convenience and multiple services.

Furthermore, Paphos as the European Capital of Culture for 2017 is linking Continents and Bridging Cultures and aims to be more functional, modern and creative and will affirm its place as a prominent tourist and cultural destination.

Photo: The beautiful City of Paphos