Paphos re­mains the top choice for over­seas prop­erty buy­ers

Financial Mirror (Cyprus) - - FRONT PAGE -

Prop­erty sales con­tinue to grow for the fifth con­sec­u­tive month in 2015, both from the do­mes­tic and es­pe­cially from the over­seas mar­kets, with Paphos con­tin­u­ing to lead in pur­chase con­tracts by for­eign buy­ers recorded at the Depart­ment of Lands and Reg­istry by 36%. By com­par­i­son, Li­mas­sol ac­counted for 26%, Lar­naca 18%, Nicosia 10% and Fa­m­a­gusta Dis­trict with just 9%

The mas­sive prop­erty pur­chases by for­eign in­vestors in Paphos were due to the grant­ing of res­i­dence per­mits to non-EU in­vestors if they bought prop­er­ties worth at least 300,000 eu­ros, while an in­vest­ment of 3 mln makes cit­i­zen­ship.

The nat­u­ral en­vi­ron­ment, the at­trac­tive ar­eas and mild cli­mate of Paphos also seem to i mpress for­eign in­vestors with large de­vel­op­ment com­pa­nies cre­at­ing suit­able projects with ameni­ties, fa­cil­i­ties and ser­vices that raise the qual­ity of lifestyle through­out the re­gion.

Lep­tos Group said in an an­nounce­ment that it has con­cluded “another very large in­vest­ment on the coastal area of Coral Bay, this time by a Rus­sian in­vest­ment com­pany.”

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