Cyprus property

Paphos Area

Paphos harbourThis pretty west coast harbour town is steeped in history that spans thousands of years. Reputedly the birthplace of Aphrodite, Paphos is a designated World Cultural Heritage site and boasts an abundance of archaeological attractions, notably the Tombs of the Kings (where underground tombs carved out of solid rock date back to the 4th century BC), the stunning Paphos Mosaics, the 2nd-century Odeon, and Paphos Castle. The town is divided into two parts - Kato Paphos (Lower Paphos) and Ano Paphos (Upper Paphos), which are two kilometres apart.The traditional lower end centres around the quaint quayside with its outdoor restaurants and souvenir shops, contrasting with the modern shopping area of Upper Paphos.

Surrounding the main Paphos town are many lovely villages, including Chlorakas, Geroskipou, Coral Bay, Kissonerga, Pegeia, Empa, Tsada, Stroumpi and Kathikas.  These villages have great charm and are all just a few km outside of Paphos.  Property in these locations can be very sought after due to the community, peaceful surroundings and often fantastic sea views.

Paphos Property

As with the rest of Cyprus, demand for seafront property is high, and prices in the area are rising by 15% per annum.Two bedroom houses cost around CY£110,000, and a small semi-detached house with three bedrooms can be purchased for under CY£165,000. Four bedroomed detached houses can sell for over CY£240,000.

Paphos has a healthy rental market, which lasts for at least 30 weeks per year. Since Cyprus joined the EU, the rental market in Paphos has benefited from the larger number of people visiting the country. A two-bedroom flat can generate rentals of CY£650 (£780 GBP) per month on average, while a four-bedroom villa can earn the landlord up to around CY£2,250 (£2,500 GBP) per month. The demand for seafront accommodation in particular is extremely high.

Paphos - Key FactsPaphos rock

Population 46,320

Airport Paphos Airport, Paphos 8320, Tel: +357 26 24 05 06

Schools International School of Paphos, 22 to 26 HeIlas Avenue, PO Box 62018, Paphos 8060, Tel; +357 26 93 22 36, Email: isop@spidernet.com.cy

Medical St George's Hospital, 29 Eleftheriou Venizelou Avenue, PO Box 2259, Paphos 8021, Tel: +357 26 94 70 00

Pros

  • Paphos has many well established expat societies, including a branch of the British Citizens' Association
  • Paphos is a small, pretty town with a lot of history and a healthy year-round climate
  • The international airport is close by, and it provides good connections to most of Europe
  • A new marina, the largest on the island, was constructed in 2004
  • Paphos is a safe, friendly place that's ideal for retirement or holidays

Cons

  • Paphos may not be the right place for you if you're looking for an active and different way of life, as a large majority of the residents here are retired and the lifestyle is very similar to Britain .
  • As a popular resort, Paphos becomes overcrowded with tourists in summer months.
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