Cyprus is a true gem of the Mediterranean, where the combination of a mild climate, clean beaches, rich history, and stable economy attracts people from all over the world. The island is famous for its high level of safety, friendly atmosphere, and high quality of life. For those looking for a cozy place to live permanently or profitable investment opportunities, Cyprus offers a variety of options: from luxury real estate to affordable projects.
One of the key reasons to choose Cyprus is its advantageous geographical location. The island connects Europe, Asia, and Africa, making it a convenient hub for business and travel. Moreover, Cyprus offers one of the most favorable tax regimes in Europe, which makes it attractive to entrepreneurs and investors.
Tip: Cyprus can easily be called a cosmopolitan island. Here, several cultures, languages, and religions coexist harmoniously, with people treating each other peacefully. Many foreigners buy property here "for themselves" in order to be able to visit and relax, enjoying the sun and sea.
The opportunity to obtain permanent residence in Cyprus through property purchase
Cyprus offers the opportunity to obtain permanent residence (PR) through the purchase of property worth at least €300,000. This program is considered one of the simplest and fastest in Europe and is aimed at supporting the island’s economy through foreign investors' funds. In common parlance, it is called the "accelerated program," and in English, it is referred to as the Permanent Residence Permit.
Key benefits of the "accelerated" Permanent Residency (PR) program in Cyprus:
- Simplicity of the process: The PR application is processed within 2-6 months, and in very rare cases, it may take slightly longer. There is no need to pass a language (Greek) exam or gather a large number of documents.
- Year-round residency: PR holders can stay on the island for as long as they wish.
- Family inclusion: PR is granted not only to the buyer but also to their family members (spouse and children).
- Business-friendly conditions: PR holders can open a business or invest in the local economy. Notably, Cyprus and Russia have an agreement on avoiding double taxation, and the island offers very favorable tax rates.
- Possibility to purchase different types of properties: The program does not limit the buyer to a single property. The total value of the properties must be at least €300,000 excluding VAT, with €200,000 paid upfront. Commercial property can also be purchased instead of residential property.
- Simplicity of obtaining visas: While Cyprus PR does not grant visa-free travel to Europe and other countries, it makes obtaining visas to other countries much easier.
- Automatic renewal: There is no need to submit documents to extend permanent residency. The two conditions for automatic renewal are: not selling the property that the PR was based on and spending at least 3 days in Cyprus every two years.
- Citizenship acquisition: After 7 years of residency on Cyprus under PR, you can apply for naturalization, obtain a Cypriot passport, and become a full citizen of a European country.
The "accelerated" program makes Cyprus particularly attractive for those looking to invest and gain access to the European market. Furthermore, Cyprus real estate shows stable price and demand growth, so investments will pay off in a few years.
Why Paphos?
Among all the cities in Cyprus, Paphos stands out for its unique "character." While Limassol is known as a cosmopolitan financial center with a developed business infrastructure, and Nicosia is the administrative capital, Paphos attracts people with its cultural atmosphere and natural beauty. Here are a few reasons to choose Paphos for investment and residence:
- Historical heritage: Paphos is a UNESCO World Heritage site, known for its ancient mosaics, archaeological parks, and legendary sites related to the worship of Aphrodite and other Greek gods.
- Natural beauty: The surrounding areas of the city feature stunning beaches, green hills, and the protected Akamas Peninsula, perfect for walking and active recreation — including with children.
- Peaceful atmosphere: Compared to the busier Limassol, Paphos offers a calm pace of life, making it ideal for families and those seeking tranquility.
- Affordable property prices: Property prices in Paphos are generally lower than in Limassol or Nicosia, allowing you to purchase a spacious home or luxury villa with sea views for up to €500,000.
- Many also choose Paphos because it is home to an international airport. Proximity to it can be important for people who travel frequently, such as for work.
Below is a selection of Paphos properties suitable for participation in the "accelerated program" and with a moderate price — up to €500,000.
Peyia Panorama, Peyia area
The Peyia Panorama complex, located in Peyia, is an ideal place for comfortable living or property investment in Cyprus. The Peyia area is known for its picturesque nature, combining mountain and sea landscapes, as well as its peaceful atmosphere, which attracts both locals and expatriates. At the same time, its proximity to popular beaches, tourist attractions, and all the necessary infrastructure of Paphos makes Peyia a convenient place to live.
Note: It takes 15-20 minutes by car to get from Peyia to Paphos.
Peyia Panorama consists of just 5 villas, ensuring privacy and the tranquility of secluded, relaxed living. Each villa is designed with the future residents' needs in mind. Villa features:
- Number of floors: 2
- Number of bedrooms: 3
- Area: from 142 to 147 m² plus land plot area
- Energy efficiency class: A, which helps save on property maintenance
- Distance to the sea: 2800 m, offering sea views and access to the beach within 5-10 minutes by car
- Private pools for each villa
- Cozy terraces
- Equipped barbecue areas
- Private parking spaces
The infrastructure of the Peyia Panorama complex includes a gated, secure area and a convenient location close to shops, restaurants, and other key amenities for daily life.
Pegeia Golden View, Peyia area
The exclusive Pegeia Golden View complex in Peyia is a unique combination of modern design, comfortable infrastructure, and a convenient location. The resort suburb of Paphos, Peyia, is known for its picturesque landscapes, relaxed atmosphere, and proximity to the famous Coral Bay beaches. The complex is within walking distance to supermarkets, pharmacies, medical centers, a stadium, and schools. Just a few minutes' drive away are sandy beaches, cozy bars, and restaurants.
Features of the villas and townhouses in the complex:
- Number of floors: 2 with an additional level – an open rooftop terrace
- Number of bedrooms: 3
- Property size: from 124 to 148 m²
- Energy efficiency class: A, ensuring savings on property maintenance
- Distance to the sea: 2000 m
- Private pools for the villas
- Shared pool for the townhouses
- Spacious rooftop terraces with sea views and sunsets.
Infrastructure of the Pegeia Golden View complex:
- 37 villas and townhouses with modern design and fittings
- Convenient location in the center of Peyia, close to key infrastructure
- Easy access to beaches, bars, and restaurants of the popular Coral Bay resort
Pegeia Golden View is an excellent choice for those who value comfort, modernity, and the privileges of living in one of the most picturesque areas of Cyprus. The complex is perfect for both permanent residence and for renting out or investment.
New 2-Bedroom Apartment, Universal Area
This modern 2-bedroom apartment is located in the Universal area of Paphos, just 1.8 km from the coast. The property is situated in a gated residential complex, offering a high level of comfort and a convenient location near key city attractions, including the Paphos Harbour, the tourist area, and the Kings Avenue Mall.
The Universal area is considered one of the most convenient and sought-after areas for relocation in Paphos. The infrastructure here is well-developed, with schools, shops, restaurants, and clinics nearby. This area is ideal for both permanent living and vacationing. The city center or the airport can be reached by car in just 10 minutes.
Main Features of the Apartment:
- Total Area: 131 m², including a spacious living area and balconies with views of the sea and mountains.
- Bedrooms: 2, including a master bedroom with an en-suite bathroom for added privacy.
- Bathrooms: 3.
- Modern Amenities: Central air conditioning, private parking, a gym, and a communal pool for residents.
- The complex offers ideal conditions for comfortable living and relaxation. Its infrastructure includes:
- Landscaped gardens
- A communal pool, including a children's swimming area
- Proximity to parks and playgrounds for children
- A gated and guarded area, ensuring peace and privacy.
With an energy efficiency class of "A" and modern engineering solutions, this apartment is an excellent choice for personal use or investment (for example, for renting out, as the area has high demand).
New 2-Bedroom Apartment, Pano Paphos Area
This spacious apartment in a modern residential complex is located in the Pano Paphos area, making it an excellent choice for both personal living and investment. The complex is just 3 km from the sea, situated on a small hill. This location is in the old part of the city, where narrow, quiet streets create that quintessential Mediterranean atmosphere.
Apartment Features:
- Living and total area: 79 m²
- Number of bedrooms: 2
- Number of bathrooms: 2
- Air conditioning units installed
- Balconies with sea and mountain views
- Modern layout with a spacious living area
- A-class energy efficiency system
The complex where the apartment is located is ideal for those seeking comfort and modern amenities, surrounded by green spaces and close to urban infrastructure. Complex features include:
- Indoor swimming pool
- Modern gym
- Gated, secured area with video surveillance
- Well-maintained landscaped gardens
- Children's playground
- Elevator and convenient parking for residents
- Solar system for water heating
The construction of the complex will be completed by March 2026, making the apartment an excellent option for those planning a future purchase at a reasonable price. It should be noted that once construction is completed, the value of the ready apartments will increase by at least 10%.
Note: Furniture is not included in the price, allowing buyers to choose their own interior style.
This apartment is ideal both for permanent living and for rental, considering its excellent location, stunning views, and high-quality features. The property can be rented out either short-term (for tourists) or long-term (for Cypriots or expatriates).
3-Bedroom Villa, Geroskipou Area
This new luxury 3-bedroom house is located in a gated complex in the suburban area of Geroskipou, just 2 km from the sea. Nearby, you’ll find shops, restaurants, schools, and a popular golf resort. It’s the perfect choice for those seeking modern living with a high level of comfort and breathtaking views of the sea. The villa is ideal for permanent residence, relaxation, or investment.
Brief Overview of the Villa:
- Total area: 198 m², usable area: 153 m²
- Plot size: 306 m²
- Levels: 2 levels with the option to create a relaxation area or rooftop terrace, i.e., an additional level
- Bedrooms: 3
- Bathrooms: 3 (including a guest toilet)
- View: Panoramic sea view
- Leisure areas: BBQ zone and relaxation space
- Energy efficiency: Class A
- Technical features: VRV system for cooling, underfloor heating, photovoltaic system (6.3 kW) for energy savings.
The gated complex ensures a private atmosphere and tranquility. Key features of the complex:
- Gated territory with security and surveillance cameras
- Private heated pool at each villa
- Modern landscaped gardens
- Parking with charging stations for electric cars
- Children's playground
Completion date: December 2025. This means that villas in the complex are currently offered at an attractive price, which is expected to rise once the project is completed.
Read also:
