Paphos attracts both tourists and investors with its unique blend of history, amenities, and favorable weather. One of the main benefits of purchasing property in Cyprus is the fast-track process for obtaining permanent residency (PR), available for property purchases of at least €300,000. This procedure takes just 2–3 months, making it one of the quickest in Europe. This article explores real estate trends in Paphos, the pros and cons of buying property here, and examples of apartments priced up to €300,000.

Real Estate Trends in Paphos

Paphos properties are in consistent demand among locals and foreigners alike. Investors favor the city for its affordable prices, relaxed atmosphere, and high quality of life. In recent years, there has been a growing interest in modern residential complexes with enhanced infrastructure. Areas like Kissonerga, Universal, Chloraka, and the city center are particularly popular. Despite this demand, property prices remain accessible, especially compared to Limassol and Nicosia.

According to Tranio's January 2024 data, increased demand for Cypriot real estate in late 2023 was driven by non-EU residents. Analysts report that interest from Russian buyers grew by 35% in 2023 compared to 2021.

Additionally, 2023 saw a decline in the number of local buyers on the primary market, primarily due to foreign financial interventions, which led to price hikes across property categories.

Thus, Paphos continues to appeal to investors due to its affordable prices, well-developed infrastructure, and favorable climate, making it an attractive destination for property purchases.

Pros and Cons of Buying Property in Paphos

Pros:

Well-developed infrastructure: Supermarkets, schools, hospitals, shopping centers, museums, theaters, parks, and streets lined with bars and nightclubs.
Convenient transport links: An international airport and central highway access.
Favorable climate: Mild winters and hot summers.
Wide variety of properties: From budget apartments to luxury villas.

Cons:

Relative distance from other major cities.
Low population density in winter: This might be a drawback for those seeking a vibrant urban lifestyle.

Apartments Up to €300,000 in Paphos: Area Overview

Kissonerga Area

1. Lux Residence

A new cozy complex of eight apartments built using modern technologies and eco-friendly materials. Each unit features a spacious covered veranda, a storage room, and parking with an electric vehicle charging station. Buyers can also opt for a private rooftop garden with a BBQ area.

Property details:
Second-floor apartment, 110 m².
Two bedrooms and a spacious living room.
Sea and mountain views.
Features include air conditioning, an intercom system, and surveillance cameras.
Located 2 km from the sea, close to shops and cafes.
Price: €260,000 + VAT.

Explore all real estate options in the Lux Residence project

2. The Edge

A modern residential complex perched on a cliff, offering breathtaking views of the sea and mountains. The project is energy efficiency class A and comes equipped with air conditioning in every apartment, kitchen appliances, an intercom system, and a security system.

Property details:
Two-bedroom ground-floor apartment.
Total area: 106 m², including a 27 m² veranda with sea and mountain views.
Located 1.5 km from the sea.
Price: €295,000 + VAT.
Construction completion is scheduled for December 2025.

Explore all real estate options in The Edge project

Universal Area

1. Ariad

A modern complex combining style and maximum functionality. It features an infinity pool, a green area, and a gated community.

Property details:
Third-floor apartment, 59 m².
Includes one bedroom, a bathroom, a spacious living room, and a kitchen.
Offers sea and mountain views.
Comes fully furnished with air conditioning and a storage room.
Located 1.5 km from the sea.
Price: €235,000 + VAT.
Construction completion is planned for 2025.

Explore all real estate options in the Ariad project

2. Universal Holiday Residences

A modern residential complex featuring a swimming pool, sauna, jacuzzi, and green area. Located just a 7-minute walk from the beach and 5 minutes from the city’s largest shopping mall.

Property details:
One-bedroom apartment, 57 m², converted into two studios.
Each studio includes its own kitchen and bathroom, making it ideal for rental purposes.
Located within walking distance of the beach and shopping mall.
Price: €250,000 + VAT.
Construction was completed in April 2024.

Explore all real estate options in the Universal Holiday Residences project

3. Paradise Gardens

A complex of six apartments located in a quiet, family-friendly neighborhood, offering a peaceful atmosphere and comfort. The development includes a communal pool, storage rooms, and private parking spaces.

Property details:
Ground-floor apartment, 92 m².
Includes a covered veranda and a spacious terrace with sea and mountain views.
Comes fully furnished with air conditioning and a storage room.
Located a 5-minute drive from the sea.
Price: €220,000 + VAT.
Construction completion is scheduled for October 2025.

Explore all real estate options in the Paradise Gardens project

Paphos City Center

1. Stay in the City Residences

A modern residential complex in the city center with unique architecture. It offers spacious one- and two-bedroom apartments, a gym, sauna, massage room, and a rooftop garden with a pool.

Property details:
One-bedroom apartment, 66 m².
Features natural oak parquet flooring, granite countertops, and luxury fixtures.
Panoramic windows provide excellent natural lighting.
Located 1.5 km from the sea.
Price: Starting from €295,000.
Construction was completed in late 2022.

Explore all real estate options in the Stay in the City Residences project

2. Element Residence

A modern residential complex surrounded by a park area with excellent infrastructure. The complex features a heated indoor pool, sauna, jacuzzi, gym, restaurant, and relaxation areas.

Property details:
One-bedroom apartment, 62 m².
Spacious layout with sea views.
Includes air conditioning in the living room and access to all complex amenities.
Located in the city center, 3 km from the sea.
Price: €235,000 + VAT.
Construction completion is scheduled for March 2026.

Explore all real estate options in the Element Residence project

Chloraka Area

1. Flora Residence

A modern residential complex located 1 km from the sea, consisting of two blocks with 38 apartments. Amenities include a swimming pool, gym, BBQ area, and an automated garden irrigation system.

Property details:
Ground-floor apartment, 97 m².
Features a spacious living room, fully equipped kitchen, and built-in furniture.
Located 1 km from the sea.
Price: €262,000 + VAT.
Construction completion is scheduled for January 2026.

Explore all real estate options in the Flora Residence project

Konia Area

1. Fresco Residence

Located in the family-friendly Konia neighborhood, known for its tranquility and cozy atmosphere. The complex offers spacious apartments with large terraces and energy-efficient technologies.

Property details:
Two-bedroom apartment, total area of 115 m² (86 m² living space + a large veranda).
Includes covered parking and a storage room.
Located 6 km from the sea.
Price: €260,000 + VAT.
Construction completion is scheduled for March 2025.

Explore all real estate options in the Fresco Residence project

Anavargos Area

1. Alsos Residence

Located in the quiet Anavargos neighborhood with convenient access to schools, hospitals, and supermarkets. The complex features high-quality finishes, spacious layouts, and energy-efficient technologies.

Property details:
Two-bedroom apartment, total area of 94 m².
Includes a spacious balcony with a BBQ area.
Suitable for comfortable living or rental purposes.
Located 4.3 km from the sea.
Price: €280,000 + VAT.
Construction completion is scheduled for December 2025.

Explore all real estate options in the Alsos Residence project

Paphos offers a variety of real estate options priced up to €300,000, suitable for both permanent residence and investment purposes. The city is attractive due to its developed infrastructure, favorable climate, and affordable prices compared to other regions of Cyprus. Depending on your goals—whether purchasing a home for living or investment—you can find the perfect option among the modern residential complexes.

It is important to note that for buyers purchasing their first home in a new development, the VAT is not 19%, but only 5% on the specified area. This makes purchasing even more advantageous for those planning to settle in Cyprus.

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Source: DOM

Photos: DOM

Interested in property on the island? Check out the number one real estate agency in Cyprus, DOM! The website features the largest database of real estate in the country – over 100,000 residential and commercial properties across the entire island. Choose and consult with professional brokers who will help you make the right choice!

Irina Starinskaia