Paphos - The Champion in Property Sales to Overseas Property Buyers

07/12/2016
Property sales continue to grow for the eleventh consecutive month in 2016, both from the domestic and especially from the overseas markets and particularly from Russia, Ukraine, 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 39%, in comparison to Limassol which follows with 30%.

Third is Larnaca with 24%, and lastly Nicosia with 5 % and Famagusta with just 3% These massive property purchases from foreign investors in Paphos were derived 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. Over but mostly also due to the beautiful natural environment, the attractive areas and especially the mild climate of Paphos.

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 or in luxury apartments in organized property developments which provide security, convenience and multiple services.

Furthermore, Paphos is moving with fast speeds towards their preparation to warmly welcome the thousands of tourist, visitors and investors expected in town, as Paphos has been selected as the European Capital of Culture for 2017.

Photo: Paphos top attraction for foreign buyers and investors

 


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