Paphos still top choice for over­seas buy­ers

Financial Mirror (Cyprus) - - FRONT PAGE -

Paphos con­tin­ues to present for the first eight months of 2015, the high­est fig­ure in prop­erty pur­chase con­tracts by for­eign buy­ers sub­mit­ted to the Depart­ment of Land and Reg­istry dur­ing this pe­riod, rep­re­sent­ing 39% of all deal, fol­lowed by Li­mas­sol with 26%, Lar­naca with 20%, Fa­m­a­gusta with 8% and Nicosia last 7%.

Paphos has man­aged, thanks to the tar­geted ef­forts by lo­cal prop­erty de­vel­op­ers, to re­main in first po­si­tion and to at­tract for­eign buy­ers and in­vestors who ex­press their pref­er­ence mainly in beach­front vil­las or apart­ments, as well as or­gan­ised prop­erty de­vel­op­ments which pro­vide se­cu­rity, con­ve­nience and mul­ti­ple ser­vices.

Thus, Paphos has taken the lead as the prime des­ti­na­tion in the prop­erty mar­ket and the best choice to ob­tain a per­ma­nent res­i­dency by over­seas buy­ers. Fur­ther­more, town and the re­gion is mov­ing steadily to­wards the prepa­ra­tion to welcome the thou­sands of tourists, visi­tors and in­vestors as it leads up to be­com­ing the Euro­pean Cap­i­tal of Cul­ture for 2017.

“Just like the pre­vi­ous year, the prop­erty de­vel­op­ment sec­tor con­tin­ues to be the main­stay of our re­gion’s econ­omy con­tribut­ing de­ci­sively to growth and de­vel­op­ment,” said Lep­tos Group Mar­ket­ing Di­rec­tor Sakis Had­jiAlexan­drou.

He also ap­pealed to gov­ern­ment of­fi­cials to con­tinue help­ing with the pro­ce­dures that have been re­laxed for ob­tain­ing a per­ma­nent res­i­dency as well as other in­cen­tives, and the im­ple­men­ta­tion of ma­jor in­fra­struc­ture projects an­nounced by Pres­i­dent Anas­tasi­ades ear­lier this year, that will have a ma­jor im­pact on the re­gion’s GDP growth.

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