Paphos champions property sales to overseas buyers
Property sales continued to grow in February for the second consecutive month in 2016, both from the domestic and especially from the overseas markets.
Paphos continues to lead in the purchase contracts by foreign buyers recorded at the Department of Land and Registry by 41%, in comparison to Limassol which follows with 28%. Third is Larnaca with 24%, and lastly Nicosia with 4% and Famagusta with just 3%
These purchases from foreign investors in Paphos were due to the residence permits programme when buying a property valued at EUR 300,000 as well as citizenship plan with an investment in property of EUR 2.5 mln.
Paphos has managed remain in attracting foreign buyers and investors who express their preference mainly in beachfront villas or apartments in organised property developments which provide security, convenience and multiple services.
Furthermore, the town is moving steadily towards the preparation for the European Capital of Culture for 2017 when it will welcome thousands of tourists and investors.