Based on available statistics on property sales to foreign investors for 2024, Paphos was the leader in terms of the number of transactions in this category.
Limassol came in second, followed by Larnaca in third. Nicosia and the free areas of Famagusta came next. Looking in more detail, Paphos had the best results in terms of the volume of transactions concluded last year with both EU and third country nationals. The other places were distributed as follows: Limassol, Larnaca, Nicosia and the free areas of Famagusta.
We would like to remind you that throughout last year, Paphos was repeatedly in the top three in terms of the number of contracts concluded with foreigners. And this is not surprising! The climate around Paphos is milder than in the east and especially in the centre of the island. Buildings here are mostly low-rise, and there is plenty of greenery - the city is literally drowning in citrus and banana plantations. Paphos stretches along a beautiful coastline with picturesque beaches and secluded coves. The town boasts the splendour of unspoilt nature and magnificent panoramic sunset views.
Some of the main reasons for Paphos' popularity with foreign investors are
1. Attractive property prices. Compared to other major cities in Cyprus, property prices in Paphos remain relatively affordable. You can buy luxury villas overlooking the sea, cosy apartments in the town centre or profitable commercial properties suitable for renting out.
2. Unique location. Paphos offers the perfect combination of natural beauty and urban infrastructure. The coastline, mountains, ancient monuments and modern amenities make it an attractive place to live and relax.
3. Developing infrastructure. The city is actively developing. New residential complexes, shopping centres, educational and medical facilities are being built. The road network and municipal infrastructure are being improved, increasing property values.
4. High rental yields. Paphos is a popular tourist centre, attracting hundreds of thousands of visitors each year. Property owners can expect a stable income from short term rentals during the tourist season or long term rentals during the winter months.
If you have been thinking about buying property in Cyprus for a long time, Paphos is an excellent choice.