Paphos still top choice for overseas buyers
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.