Paphos real estate – a dream location
Paphos is considered to be the capital of the southern half of Cyprus and is a popular choice amongst UK visitors as a retirement area or for those looking to relocate permanently to the island. Paphos real estate is highly desirable and a unique investment opportunity. The building standards are exceptionally high in this region, resulting in a wide selection of real estate and properties that are both highly sought after and reasonably priced.
Paphos itself consists of two areas; the coastal resort area Kato Paphos and the town itself Pano Paphos, which is slightly inland. Popular locations to buy luxury villas here include Aphrodite Hills, Coral Bay, Tala, Polis and Latchi and Peyia. Each area has its own, unique features – Aphrodite Hills is the 'Beverley Hills' of Paphos with luxurious villas and outstanding facilities including a superb golf resort. Property here is at a premium but the sheer luxury of the area is well worth the investment.
Buying Paphos real estate is the same as buying property anywhere else in Cyprus. If you are looking at this area to invest in or even make a permanent move to the region, you must ensure that before you begin proceedings that you have the assistance of a lawyer who is familiar with the Cypriot property market. Although buying property in Cyprus is very similar to purchasing in the UK, there are certain aspects that do differ and you have to be aware of the process to avoid additional costs. This is particularly relevant if you are applying for finance from a Cypriot lender rather than a UK bank. If you are buying property in Paphos it is also important to ensure that you have the right level of finance to cover all additional costs. Remember that property in this region is extremely popular and prices are a little higher because of the outstanding location and quality of properties available.
If you are applying for a Cypriot mortgage, your solicitor or notary may incorporate costs for assigning the mortgage within his charges. You should make sure that you know what the actual cost is before you proceed with any loan application. The government also charges a mortgage registration fee of approximately 1% and stamp duty of up to 0.20% payable when the loan is eventually registered by the lender against the title deeds. All of these additional costs need to be incorporated into your original estimate so that you are sure that the finance is in place to cover every eventuality.
Real estate in Paphos ranges from expansive and luxurious villas set in their own grounds to ultra-modern developments where build quality and finish are of the highest standards. The area is surrounded by stunning countryside (said to be the birthplace of the goddess Aphrodite) and is famous for its wide, sandy beaches. As an investment opportunity, Paphos real estate benefits from a strong market with high demand for the best locations. Development has been done sympathetically and in harmony with the landscape, resulting in a selection of properties that are highly desirable, surprisingly affordable and a superb financial investment. Paphos really is a dream location.
Unique Living
Unique Living Paphos is considered to be the capital of the southern half of Cyprus and is a popular choice amongst UK visitors as a retirement area or for those looking to relocate permanently to the island. Permission to electronically submit information regarding the site has been granted by the company provided that a working hyperlink remains to our website.
