Paphos - still the Best Choice for Overseas Property Buyers in 2014

Property sales continue to grow for the tenth consecutive month, both from the domestic market as well as from overseas markets.

Regarding sales from the overseas market, Paphos has quite a variance from the rest of the cities with a market share of 38% , followed by Limassol with 25% and Larnaca with 18%. Moreover, Paphos continues to have the lead in purchase contracts by foreign buyers recorded at the Department of Lands and Registry. Famagusta and Nicosia do not seem to easily attract overseas buyers.

These massive property purchases from foreign investors in Paphos were derived due to the granting of residence permits which value € 300.000 and over, and the new citizenship scheme through naturalization, but also due to the impressive natural environment, beautiful areas, mild climate, and certainly the existence of the biggest development companies that have created stunning projects with luxury seafront villas, hilltop houses with panoramic views, superb and elegant apartment blocks, with excellent amenities, facilities and services that raise the quality of lifestyle throughout the region.

Leptos Group Marketing Manager Mr. Sakis Hadjialexandrou said that the property development sector continues to be the mainstay of Paphos region’s economy contributing decisively to the progress and development of it. Paphos is still here added Mr. Hadjialexandrou, because it is the birthplace of the most beautiful Goddess, Aphrodite, because of its world culture heritage, for being the European Capital of Cyprus of 2017 and because of its most friendly and hospitable people. It is by far the ideal destination for holidays and recently for permanent residence.

Photo: An Autumn day in Paphos Harbour