With locksmiths and travel restrictions currently happening, you might wonder about the sanctity of investing in a vacation home. Nevertheless, it now seems to be an excellent time to look for properties for sale in Paphos.
Interestingly, the demand for vacation homes is there because people are scrolling while sitting at home. Also, anything is possible. Now that we have the technology to do everything remotely, even looking for properties for sale in Paphos is worth it. In fact, Cyprus is still one of the top 5 countries for property investment.
Why Search for a property for sale in Paphos?
- Speed of life
- Entertainment and services
- Transport and infrastructure
- Outdoor sports
Overall, Cyprus offers an easy way to live, although you may favor Paphos when considering the location. In one of the top 5 cities, Paphos remains the most relaxed while still offering all the benefits of a town. Also, many people commute to work in Limassol but choose to live in the more relaxed Paphos.
Paphos offers everything in terms of entertainment. You can expect great restaurants, fun bars, and lively clubs. If you are more into your culture then there are some very interesting archaeological sites. In fact, the entire city and surrounding area is a UNESCO heritage site. So you will be able to see the most important parts of ancient Greek and Roman history.
As everywhere in Cyprus, Paphos is well structured, organized and supported by excellent public transport. The city even has its airport, which makes it super convenient. You can also expect an excellent bus service so you can even make the day trip for a ski session in the Troodos mountains.
It’s such a huge luxury to ski in the mornings and jet ski in the afternoon. If that has always been your dream, then look no further than Paphos. It is effortless to make the trek to the Troodos mountains. These have heights of just under 2000 meters, which is very respectable for skiing standards.
Why Now is the Right Time for a property for sale in Paphos
- Property prices are low
- Ease of residence and citizenship
- Increase in covid compliant buildings
- Explore the range of prices
With prices falling to nearly 30% from the 2008 peak, it is no surprise that investors are taking a close look at Paphos. In fact, foreigners make almost half of property investments in Cyprus. This is also often driven by the ease of obtaining residence and even citizenship in Cyprus.
Some Cyprus developers are now focusing on “covid compliance” to ensure flexibility going forward. For example, this includes the installation of unique, unfriendly, circulating systems and materials for viruses and bacteria.
However, when it comes to investing, you have to think about your budget. It is true that 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 to investing in a 5 bedroom independent villa. Then again, some 2-bedroom apartments can go up to a million euros depending on the type of building they are in and what facilities you can benefit from.
Property Price Range in Paphos
- Starting point at 45,000 euros
- It goes up to between 2 and 4 million euros.
- Residential and Commercial land enters 10 to 20 million euros.
You’ll need to be clear about your budget and needs before you even start looking for properties for sale in Paphos. You want a vacation home, but do you want it built for you? Alternatively, you may like it as an investment you plan to sell in a few years. Once you have 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 plot of land, a 1-bedroom studio, or a 2-bedroom apartment, depending on the location. When considering a budget of several million, then you look at townhouses or villas separately. Some may have property management costs to bear in mind, though.
It may be interesting to note that you can also buy land ready for commercial or residential development. If you are planning to focus on a vacation home, you can forget those, but it gives you an idea of the price ranges.
Final Thoughts on Searching for properties for sale in Paphos
Buying a vacation home should be fun. Of course, there is a process, and you should plan and research properly. Naturally, make sure you work with a reputable real estate agent or registered and licensed property developer. Then you can benefit from the low prices Paphos is currently experiencing and watch your vacation home become a wise and significant investment for the future.