Property in Paphos
Buying real estate in Paphos, the fourth largest city in Cyprus, means becoming the owner of a liquid and highly profitable property, which is great for private residence or business. Once the ancient capital, this place is considered the real cradle of Christianity. Paphos is located in the southwestern part of the island. It is a cultural and economic hub of Cyprus and one of the most populous cities in the country.
Due to the presence of mountains and natural fresh water reserves, temperatures here are more moderate than in the east or centre of the island. The area has a lot of lush vegetation and plantations of fragrant bananas and citrus fruits.
Paphos is an ideal quiet place to holiday and live permanently for families with children, young couples, digital nomads, and everyone who values peace and comfort. For those who are looking for property in Cyprus, the city can offer options for rent and purchase for every taste and budget.
You can browse properties in Paphos, Cyprus at prices set by developers and owners in the catalogue on Cyprus-Real.Estate.
Foreign nationals who buy property in Paphos make a profitable investment. Here, among the huge range of options, everyone can find something special for themselves. For example, families with children usually choose spacious houses or apartments in Cyprus closer to urban infrastructure and amenities as their permanent or holiday home. By the way, there are many English-speaking nurseries and schools in the city. Young couples most often opt for secluded houses or villas on the coast, where you can enjoy sunrises and sunsets. Wealthy renters and buyers prefer luxury property in Paphos: villas or apartments with exquisite decor and tennis courts and golf clubs nearby.
Paphos is a place where people can relax their body and soul. There is not much noise, night parties are rare here, and, all in all, it is filled with harmony and peace. This city is ideal for enjoying pristine nature, sunbathing on manicured beaches, spending time with family and loved ones at restaurants, and sightseeing. In other words, Paphos is an ideal option for buyers looking for serenity and tranquillity in life.
Properties prices in Paphos
Buying an apartment in Paphos costs an average of €313,333. The average price of a house is €563,000. Below you can find the current property prices in Paphos, depending on the type of unit and the number of bedrooms.
Apartments:
| Number of Bedrooms | Price |
|---|---|
| Studio | €201,833 |
| Two bedrooms | €259,000 |
| Three bedrooms | €380,833 |
| Four bedrooms | €554,800 |
| Five bedrooms | €1 million |
Houses:
| Number of Bedrooms | Price |
|---|---|
| Four bedrooms | €863,333 |
| Five bedrooms | €1.14 million |
| Six bedrooms | €1.35 million |
| Seven bedrooms | €850,000 |
| Eight bedrooms | €929,000 |
- Apartments in residential developments cost an average of €2,877 per 1 m². Over the past 12 months, the price of this type of property has increased by 31%.
- Houses are priced at an average of €3,056 per 1 m². Over the past 12 months, the cost has increased by 23%.
The property cost in Paphos, oddly enough, depends mainly on the quality of a particular unit and residential development (as far as apartments are concerned) rather than on a location. For current prices of residential units you are interested in, please contact a real estate expert on the website.
Investment property
The city has a well-developed infrastructure, magnificent natural scenery, azure water, and affordable housing options. Largely for these reasons, property in Paphos for investments and living is so in demand among foreign nationals.
Property prices in Paphos are still relatively affordable compared to other popular European destinations, making it a great place to invest. In addition, the cost of living here is lower than in many other cities in Europe, which means that you can afford more for the same money.
It is also worth noting the high rental potential. Considering that most of the houses in Paphos are within easy reach of the beaches, it is not surprising that local real estate is in high demand. Even though the city is best known as a popular tourist destination, people are increasingly considering it as a place to live. Whether you choose to rent out your investment property in Paphos long-term or as a holiday home, you can expect excellent returns.
If you rent out the property, the average annual return on investment in the city centre is 9.11%, and outside the centre, 6.76%.
Buying property in Paphos
Start your property search with Cyprus-Real.Estate! Browse villas in Cyprus on your own by key parameters or request an expert consultation. The specialist will advise you on how to make an informed and safe investment in real estate in Paphos, and, if necessary, arrange a deal with the owner.