Arabian Business: Pantelis M. Leptos on Paphos’ Real Estate being a Non-Eu Investors magnet.
Mr. Pantelis Leptos featured in Arabian Business Magazine in October 2023. See full article below:
Paphos’ Real Estate – Non-EU Investors Magnet
Talking about the attractiveness of the country for property investment, Pantelis Leptos, co-President of Leptos Group points out the impressive rebound of the Cypriot Real Estate market, which has now outpaced its pre-global financial crisis from 2008.
‘’With a robust 65% spike in sales last year and a further 41% increase this year, it’s evident that the market is thriving’’. Yet, for Leptos, it’s Paphos that steals the spotlight.
‘’When it comes to attracting non-EU property buyers. Paphos is the undeniable leader’’, he emphasized.
Cyprus’s real estate activity touched €6 billion last year, marking a 41% uptick from the year prior. ‘‘Our momentum is only building’’ Leptos added, pointing to a 23% increase in this year’s first quarter.
With the recent gas find and the country’s new regulatory embrace of Airbnb, Leptos is optimistic about what lies ahead. ‘’With soaring demand and limited supply, Cyprus, particularly Paphos, is set for a transformative leap, especially in land valuations’’, he mentioned.
Leptos Group, established 63 years ago, has ascended as a trailblazer in tourism, real estate, and property management, becoming Cyprus’ leading landowner after the government and church. The Group, following an innovative path is also involved in the Education and Healthcare sectors with its own University, the Neapolis University Pafos, the first university in the region and Iasis Hospital which is considered to be amongst the best equipped and staffed hospitals in Cyprus. ‘’Our footprint in Cyprus’’ economic fabric is deep and widespread’’ Leptos notes.
While the Group’s vast portfolio boasts a range of offerings, Leptos underscores the allure of their beachfront villas and the novel ‘resort residences’ concept. ‘’Marrying the comfort oof residential spaces with resort-amenities, we’re reimagining living experiences’’, he shares.
As for the Group’s latest undertakings, the Blu Marine project in Limassol stands as as a testament to the Group’s commitment to luxury and innovation. ‘’This venture is not just about upscale living; it’s our contribution to what will soon e recognised as Europe’s next Riviera’’, Leptos remarks. ‘’Our ambition remains unwavering: to consistently redefine and elevate standards in the region’’.