With lockdowns and travel restrictions currently going on, you might wonder at the sanity of investing in a holiday home. Nevertheless, now seems to be an excellent time to look for property for sale in Paphos.
Interestingly, the demand for holiday homes is there because people are scrolling while sitting at home. Also, anything is possible. Now that we have the tech to do everything remotely, even looking for property for sale in Paphos is worth it. In fact, Cyprus is still one of the top 5 countries for property investment.
Why Look for property for sale in Paphos?
- Pace of life
- Entertainment and services
- Transport and infrastructure
- Outdoor sport
Overall, Cyprus offers an easy-going lifestyle, although you might favor Paphos when considering the location. One of the 5 main cities, Paphos remains the most relaxed while still offering all the advantages of a town. Also, many people commute to work in Limassol but choose to live in the more relaxed Paphos.
Paphos offers everything when it comes to entertainment. You can expect great restaurants, fun bars, and lively clubs. If you’re more into your culture, then there are some fascinating archaeological sites. In fact, the whole city and surrounding area is a UNESCO heritage site. You'll therefore be able to see the most important parts of ancient Greek and Roman history.
Like everywhere in Cyprus, Paphos is well structured, organized, and supported by excellent public transport. The city even has its airport, which makes it ultra-convenient. You can also expect an excellent bus service such that you can even make the day trip for a skiing session in the Troodos mountains.
It’s such a huge luxury to ski in the mornings and jet ski in the afternoon. If that’s always been your dream, then look no further than Paphos. It’s effortless to make the trip to the Troodos mountains. These have an altitude of just less than 2000 meters, which is very respectable for skiing standards.
Why Now is the Right Time for property for sale in Paphos
- Property prices at a low
- Ease of residency and citizenship
- Increase in covid-compliant buildings
- Explore the range of prices
With prices dropping to almost 30% of the 2008 peak, it’s no surprise that investors are looking closely at Paphos. In fact, nearly half of property investments in Cyprus are made by foreigners. This is also often motivated by the ease of obtaining residency and even citizenship in Cyprus.
Some Cyprus developers are now focusing on “covid-compliance” to ensure flexibility moving forwards. For example, this includes installing unique air circulation systems and materials that are unfriendly for viruses and bacteria.
When it comes to investing, though, you have to think about your budget. It’s true that overall, property prices in Paphos are currently low and therefore very attractive. However, there is a range to consider. Buying a 2 bedroom apartment is a very different prospect from investing in a 5 bedroom stand-alone villa. Then again, some 2 bedroom apartments can go up to a million euros depending on the type of building they’re in and what facilities you can benefit from.
The Price Range of Properties in Paphos
- Starting point at 45,000 euros
- It goes up to between 2 and 4 million euros.
- Residential and Commercial land goes into 10 to 20 million euros.
You’ll need to be clear about your budget and needs before you even begin looking for property for sale in Paphos. You want a holiday home, but do you want to have it built for you? Alternatively, perhaps you like it as an investment that you plan to sell in a few years. Once you’ve established your goals, then you can start going through all the different price ranges.
A budget of around 40 to 100,000 euros can get you a land plot, a 1 bedroom studio, or a 2 bedroom apartment, depending on location. When considering a budget of several million, then you’ll be looking at townhouses or detached villas. Some might also have property management costs to remember, though.
It might be interesting to note that you can also buy land ready for commercial or residential developments. If you’re intent on focusing on a holiday home, you can forget those, but it gives you an idea of the price ranges.
