Cyprus property is a great investment and buying in a top location such as Paphos makes it an even better proposition still. The old adage “location,location,location applies to property wherever you buy and Paphos is a prime location for Cyprus property of all kinds. The town itself is steeped in a rich cultural history and there are archeological sites in the area dating back to before the roman empire. Everything from tombs and ancient mosaic floors to a genuine medieval fort right on the harbor front. The pretty harbor is lined with intimate cafe’ bars and superb restaurants where you can dine whilst looking out over the clear blue Mediterranean Ocean.
The town is actually two distinct towns or areas. Paphos town and Kato Paphos or upper and lower paphos as they are known. The old town being the upper whilst the newer resort area is known as Kato Paphos. There are lots of shops,plenty of supermarkets and the capital city of Nicosia with all the major stores is only a short drive away. A few kilometers along the coast is the beautiful resort of Coral Bay with it’s long sandy beach and lively strip. There is major development going on all over the area and property prices are already amongst the highest in Cyprus. The good news for the would be Cyprus property investor is that prices look set to increase for some time to come.
The resort of Paphos has over the last few years gained an “all year” status and most of the business now remaim open throughout the winter whilst the rest of Cyprus hibernates from around October to March. This is great news again for Paphos property owners who are now able to tap into a year round property rental market. Paphos is also the top location for many other good reasons not least it’s proximity to the Islands major airport and coastal motorway network. The rest of this beautiful Island is easily accessible and airport transfer times are negligible.
If you are still not convinced that Paphos is the best location for Cyprus property wait up because there is an ace in the pack. Cyprus golf property! Wherever you have golf you have a demand for holiday property and Paphos is the golfing center of Cyprus with the best facilities on the Island just outside the town. With the potent mixture of golf,sun and sea it is little wonder that property prices in the area continue to rise faster than anywhere else in Cyprus.
So there will never be a better time to invest in property in Cyprus especially in the Paphos area. If you are seriously considering buying an apartment or villa in Cyprus you would do well to make the move sooner rather than later. You probably need no reminder of what has happened in Spain where many would be property owners hesitated and lost out. Remember they do say that “he who hesitates is lost” and the current Cyprus property boom could make you a winner or a loser in the real estate race so now is the time to act.
Paphos in Cyprus still remains the number one resort on the Islands West coast and this of course has done wonders for property values in the area. There is however still lots of room for even more growth in this lucrative Cyprus property market. Bargain Cyprus properties can still be located all over the Paphos area by those astute investors or holiday home buyers who know where to find them. The prospect of finding good deals on Paphos property substantially increases when prospective buyers open up their options to include resale properties too. The development of property in the Paphos area has been expanding for several years now and many of the older builds are now finding their way onto the Cyprus resale property market.
It’s not just older properties either that are sold under the banner of “resales” because there are large numbers of virtually new built Paphos villas and apartments being sold as resales too. These will usually be in the form of property that was originally purchased “off plan” by speculators with the intention of selling at a profit on completion of the development. Whilst the owners are awaiting a sale they may have been rented either to the lucrative Cyprus holiday rental market or to short term tenants. Many such lets would be to people wishing to live in the Paphos area whilst they await completion of their own new build Paphos properties.
There is even a good chance that your resale Paphos property may never have been lived in at all. Speculators and investors will be advertising these villas or apartments for sale as soon as they are nearing completion and they need to sell to reinvest the capital in the next development. Often as not these properties will have one or two “sweeteners” included in the deal such as fully equipped kitchens complete with all the white goods or maybe even air conditioning thrown in too. Don’t get the wrong idea though these hard nosed Paphos property investors are in it for the money so they may be hard to crack. The bottom line is however that they make money from money so in many ways they could be seen as motivated sellers.
As the old saying goes “money talks” and buyers that have their finances lined up ready are always going to be in a good position to drive a bargain. Property in Cyprus is not immune to this golden rule and particularly in a thriving area such as Paphos so like the boy scouts it pays to be prepared. Unless you have been marooned on some desert Island for the last 50 years you will know that there is big money in property so these sellers do have room to manoeuvre. If you can’t get the deal you want (within reason) move on to another property. Don’t allow yourself to be blackmailed with the usual lines like “this is the last one” the price is going up next week” or any of the other hard sell patter that will most likely be headed your way.
There is always another Paphos property to buy,in fact new villas and apartments are coming onto the Cyprus property market on an almost daily basis. The very fact that all this development continues at such a pace almost guarantees buyers a good deal because the Paphos property developers and speculators have got to sell somewhere. There is little doubt that prices in Paphos and the surrounding area will continue to rise steadily for some time to come so buyers wishing to cash in should move soon. Paphos villas and apartments are ideal for the small investor or private buyer due to their ease of rental especially to the booming holiday market. If you are considering purchasing property in Cyprus Paphos may be a great place to look.
At the Cyprus coast in the southwestern region lies a beautiful chunk of land that is known as Paphos. According to history,Paphos was the commercial and information center of Cyprus. The local people believe that the town was built at the birthplace of the Greek legend goddess of love,Aphrodite. The old Paphos has not been entirely mixed up and disappeared with the new civilization and the city still has numerous landmarks and relics that show its ancient civilization and connections to the first beginnings of Christianity. However,21st century civilization is also evident in the town in infrastructure like airports,roads and dams. This has been enabled by the government in conjunction with the local authority as a way to boot tourism in Paphos. There has been development of beautiful seaside villas,hotels and resorts in the town.
A majority of the residents of Paphos stay in Ktima where there are many apartments and shopping places. Most visitors and tourists stay in Kato where the hotels and resorts are many. Kato is built next to the old port and contains many entertainment spots and tourist activities like skiing.
For visitors and tourists,Paphos offers many exciting attraction sites to see. One of the major attractions is the Acropolis,an ancient landmark that is found near the town’s lighthouse. There are also the catacombs which date back centuries ago that tourists and visitors alike find attractive. At the entrance of the underground catacombs of Agia Solomon,a large pistachio tree welcomes visitors into the ancient history of Paphos. The Paphos Castle,Odeon Theater,Byzantine Museum and the District Archeological Museum are other landmarks that contribute to the exciting history of the town.
More tourist attractions include the Ayiois Neophytos monastery,church of Emba,Great Wall of Lemba,and the M/V Demetrois II wreckage.
Investors who are contemplating buying property in Paphos have good gaining opportunities because the choice to purchase property in Cyprus offers high returns in investment. The town is a big tourist attraction site and is among the world’s cultural heritage sites that were designated by the United Nations Educational,Scientific and Cultural Organization (UNESCO). As the government steps up efforts to lure more visitors to Paphos,property value is expected to significantly rise as the demand for land to build hotels and other accommodation for tourists increases. At the moment,investors have a chance to grab this opportunity before property becomes too expensive or out of reach.
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May 6, 2009 2:53 am | 
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