Property in Paphos: features of the region

In Cyprus, there has been a city of Paphos, shrouded in legends and mysteries since ancient times. It is one of the oldest cities on the island and in the world. Today, the cozy, flower-decorated streets combine antiquity and modern technology, ancient churches and luxurious villa complexes, various museums, and numerous restaurants and cafes. Real estate in Paphos reflects the city's history and pleases with technological comfort. In recent years, more and more investors are choosing this place to live and invest, buying apartments and houses in Cyprus in Paphos because the atmosphere of this city is unique.

Features of Paphos

In ancient times, Paphos was the capital of Cyprus, and now it is the cultural capital of Europe. But Paphos is best known as the city of the goddess of love Aphrodite — according to the legends, it was here where the goddess came ashore to her lover Adonis. Cyprus's most historically significant city's past, present, and future are built around this story.

It was just a small resort with a rich history for a long time. Travelers from all over the world came here to bathe in the Baths of Adonis, make a wish, swim three times around the Rock of Aphrodite, visit the Archaeological Park and wander through the Old Town, dive into the antiquity of the Royal Tombs and see firsthand how the native Cypriots lived and died.

Today Paphos has become one of the most fashionable resorts and actively developing as a business hub and center of the IT community, attracting more and more digital professionals and offering them the best living and working conditions and comfortable real estate in Cyprus.

The location attracts its picturesque nature. There are no high-rise buildings, which would block the view from the windows. Therefore, you can always admire the sea and the mountains, as the city lies in the coastal valley, on one side surrounded by the Mediterranean Sea, and on the other — the hills and mountains.

The weather in Paphos is also one of the most comfortable on the island. Hot, dry summers are replaced by humid and warm winters. However, the summer heat is not as pronounced as in other regions, where temperatures can reach 37-40 degrees. In Paphos, in summer, the temperature rarely rises above 30-32°C, and in winter, the average daily temperature is usually around 12°C. The sea is always warm; winter temperatures do not drop below 18°C, so some people swim year-round.

The beaches of Paphos are also pleasant. Many of them have the European Blue Flag award, which indicates the purity of water and sand, as well as swimming safety — the purity of the water is checked several times a week, there are lifeguards on duty, there is a gentle entrance to the water, shallow depth, and breakwaters. Wild beaches here do not have the same infrastructure, they are stony, and the bottom and shoreline are pebbly, but they are very picturesque and have a primitive atmosphere.

But there is another unique beach in Paphos — Lara Bay. Here you will find neither sun beds, water amusements, nor umbrellas. But it is necessary to visit it. Why? Because this is a protected area where the little turtles of rare green turtles are born. When you come here, tourists can see the birth of baby turtles and how they leave the sandy nest, going to sea to adulthood.

What makes Pafos different from other cities? Firstly, it is divided into Kato Paphos (lower, tourist and archaeological) and Pano Paphos (upper, central with residential and business areas). The highlands of Ktima have become a haven for Pano Paphos, with views over the sea and mountains. Here, the most significant number of stores, boutiques, and brand shops offer local products and international brands.

At the top of the mountain, you can find a local market where farmers sell their products: fruit (pomegranates, grapes, papaya, tangerines, mangoes, bananas, and others) and vegetables (Cypriot potatoes are excellent), as well as silverware, leather goods, and the famous Cypriot lace lefkara.

Cypriot coffee is unlike anything you've ever tasted: it's mild, without bitterness or sourness, and has a distinctly woody aftertaste. The Cypriots adore it; it is brewed strongly and drunk from tiny coffee cups.

Another specialty that can be found in restaurants is the traditional Cypriot meze. However, you need to understand that this is not a separate dish but a way of serving, in which you are brought a dozen local dishes at once. You can try meat and fish meze to experience Cypriot cuisine fully. The number of dishes is enough for the whole company.

You can take a break from the city in the surrounding villages. Do not underestimate them because the villages in Cyprus are magnificent — beautiful houses with lush gardens and swimming pools scattered on the hills, between which winding road loops. It is quiet and peaceful, susceptible to the feeling of closeness to nature. And the roads in Cyprus, by the way, are some of the best in Europe.

The entire coastal area of the resort is filled with luxury hotels, but all the beaches — municipal, the entrance is free, paid only beds and umbrellas, which offer its guests hotels.

There is an excellent walking area on the seafront. Rest your body and soul in the famous Paphos Zoo, which has Europe's most extensive collection of birds. There is a fantastic parrot show, and you can also feed the lemurs and meet an elephant, giraffe, big wild cats, antelopes, hyenas, and many other animals. The local water park will delight you with active recreation, 15 adult and 8 children's slides.

An essential factor is that the city is actively developing: new parks with sports and children's playgrounds appear, the city will soon be covered by a network of pedestrian and bicycle paths, and new restaurants and cafes seem yearly.

The working environment is also actively developing, with business centers, co-working spaces, and innovative hubs being built. The fund for new residential real estate is growing yearly, filling with villas and complexes of comfortable apartments.

Regarding real estate prices in Cyprus, in Paphos, they are still much lower than in Limassol or Nicosia. Still, the market is growing, as is the demand for property purchase, so the city of Aphrodite will soon catch up with the capital and the business heart of Cyprus. This is due to the great demand for housing by the relocated people who come to the country and stay to work and live on the island.

What kind of real estate can I buy in Cyprus in Paphos? It can be both apartments in apartment complexes and private homes in the city or out of town.

If you want to buy property in Paphos, contact the professionals at SPM Real Estate — we can help you find the best accommodation for you and the most liquid properties if you are buying for commercial purposes.

Residential real estate in Paphos: what to choose?

Real estate in Paphos is very much in demand. Cyprus enjoys 330 days of sunshine a year, the sea, a clean environment, security, and a high standard of living in a European country. Also, buying an apartment in Paphos — is a liquid investment, as rent demand increases from year to year. Tourists who come on vacation need short-term rentals, and their flow does not decrease during the beach season, which lasts from April to November. And relocates who come to the island to work or organize a business are looking for housing for long-term rentals — their number also tends to increase.

Residential real estate in Paphos is represented by the following properties:

  • apartments and penthouses;
  • studio apartments for young people without a family;
  • comfortable villas with their plot;
  • more economical adjoining villas with a common neighborhood wall;
  • townhouses — a middle ground between apartments and villas.

The peculiarity of the city is that there are no high-rise buildings here. The government forbids the construction of skyscrapers, as the whole territory of Paphos is included in the UNESCO heritage list because of the many ancient artifacts. The authorities are trying to maintain its authentic image, so the architecture here is kept in the traditional bright Cypriot style. However, there are many apartment complexes of no more than 3-4 floors and 10-15 apartments, so you can easily buy apartments in Paphos.

If you buy a house in Cyprus in Paphos for investment purposes, you can be sure of the great demand for rent. Every year, several thousand relocators come to the island, many of whom stay in the city of Aphrodite, fascinated by its natural beauty and historical value.

The price of a property in Paphos: what it depends on?

The price of real estate in Cyprus is formed as follows:

  • housing in Paphos on the beachfront is much more expensive than in the center;
  • the larger the living space and the size of the plot, the higher the price tag;
  • the price includes the internal infrastructure of the complex and its services: gym, swimming pool, restaurant, and recreation area;
  • the quality of construction and finishing materials, the builder's expertise is taken into account;
  • the price depends on the stage of construction — at the foundation pit, it is minimal and maximum after the completion of the project.

Also important is the city where you buy property. Limassol and Nicosia are the most expensive. After Paphos, in other regions, the price tag will be lower.

Apartments in Paphos are usually cheaper than villas and houses. However, this is not the leading indicator. In some cases, apartments in apartment complexes can be more expensive than your residence if we are talking about high-tech duplex penthouses with private gardens, swimming pools, and jacuzzis on the roof.

If you buy apartments in Paphos, you can be sure that your investment is suitable — the dwellings here are high quality, spacious and liquid. SPM Real Estate specialists will help you calculate all the points and optionally build a business model to buy the most effective property in Cyprus for further sale of property in Paphos.

What you get when you buy a property in Paphos: bonuses

Investing in real estate in Cyprus brings a good income and quality of life. If you buy a villa in Paphos or any other type of real estate, you get several bonuses along with it:

  • stability of the economy and financial sector;
  • soft tax climate and one of the lowest corporate tax rates in Europe (12.5%);
  • optimal return on investment with a high ROI (average of 8% p.a.);
  • the promising economic outlook for the real estate market due to its stable growth for 3 years in a row;
  • safety of life (Cyprus is the 5th safest country in the world);
  • high standard of living — the country is a member of the European Union, a member of the Eurozone, governed by British law;
  • rapid acquisition of permanent residency, as buying a property from €300,000 plus VAT, you will receive a permanent residence permit of Cyprus on an expedited procedure from 2 months. After 7 years, you can become a citizen of the country.

What other real estate can I buy in Cyprus?

In addition to a variety of residential real estate in Paphos, you can buy an effective commercial property in Cyprus:

  • stores;
  • offices, co-working spaces, and innovation hubs;
  • shopping and entertainment centers;
  • cafes, restaurants;
  • hotels and apart-hotels;
  • medical clinics;
  • kindergartens and schools.

Depending on your life and business goals, our experts will help you choose the best property for investment.

Contact SPM Real Estate and buy property in Cyprus to make your dream of a beautiful life come true!

Your most valuable contact in Cyprus — SPM Real Estate.

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We, SPM Real Estate team, provide our users with reliable and comprehensive information concerning buying and renting residential and commercial real estate, as well as covering variety of domestic and legal issues.

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