When it comes to property prices in Cyprus, Pafos is a market full of opportunities. According to a survey, “Real Estate Market Sentiment in Cyprus,” carried out by Danos International Property Consultants & Valuers from professionals in the field (real estate agents, appraisers, developers and investors), a high percentage believe Limassol is the most expensive city on the island, in comparison to Pafos, which offers greater returns. Low interest rates and eminent inflation are set to impact real estate investment, thereby allowing both local and foreign investors to benefit from a buy-to-let strategy. As the value of the property rises with inflation, the amount tenants pay in rent increases over time. The survey also suggests that the majority of individuals who have purchased a property in Cyprus prefers cash, in combination with borrowing.
So, what makes Pafos a long, firm favourite for property buyers?
As one of the most culturally diverse places in Cyprus, Pafos continues to draw large crowds of tourists year after year. The city has its own International Airport that welcomes flights from many important cities across the world. Property buyers feel instantly at home in Pafos. There is no discrimination of any sort against international property hunters, who buy property here.
Pafos has one of the best standards of living in Europe. The infrastructure and the roads are first-rate and there is no shortage of modern amenities. In the last seven years, the city has witnessed positive transformation, and the addition of thirteen new projects, worth millions of euros, will attribute to the city’s renewed outlook, filled with optimism for the future, and unprecedented tourism numbers. As most of the new projects are scheduled for completion in 2021, these developments continue to further upgrade the city’s image, at the same time improving the quality of life of its citizens.
From archaeological sites, road improvements, multipurpose social welfare centres, citizen’s service centres and beachfront restaurants, to smartpark systems, smart pylon lighting and intelligent water management systems with smart water metering technology, the planned urban regeneration projects will encourage economic, environmental and social benefits, making now the right time to invest in property in Pafos.
For over six decades, Leptos Estates has been at the forefront for developing projects of distinction in key locations in Cyprus, focusing primarily in the Pafos region. From breathtaking homes by the sea, to hillside havens, Leptos Estates offers a wide range of ready-to-move-in properties and off-plan options for every taste and budget. The Company also prides itself on its extensive after-sales service, an attribute that is enjoyed by over 25,000 satisfied homeowners in its vast property portfolio. As a Leptos property owner, buyers also receive exclusive benefits with their Leptos ‘Gold Club’ membership that from the Group’s hotels, hospital and university.
When it comes to choosing a property in Pafos, Leptos Estates offers the complete package from start to finish.