Paphos is a top investment market
Paphos is proving to be a highly popular region among tourists and those buying second homes in Cyprus, according to reports.
The People newspaper said that Paphos is “relatively quiet and picturesque”, while its good weather and scenery were also highlighted as further benefits for tourists. Writing for the newspaper, Jon Wise said that Paphos had something that appealed to everyone.
Cyprus attracts over 2.4 million tourists every year. Research by Statistical Service Cystat (SSC) showed that foreign visitors are generating increasing amounts of wealth for the Cypriot economy. Construction of the new terminal and extension of runway at Paphos International airport started in 2006 and the terminal will be able to handle 2.7 million passengers a year and has a 940 bay surface car park.
The renovated Paphos International Airport will open this month and according to airport-technology.com the passenger growth in Cyprus is now expected to be between 3.5% and 4% a year, which could be good news for people with rental property in Cyprus.
The Mirror stated that Paphos area is a favourite spot with overseas property buyers from the UK in particular.
Commenting on the location, the publication commented that it’s easily accessible and is just 20 minutes from the airport and it has prices to suit most budgets.” besides, it stated that property values tended to start at about £80,000 for an apartment and £500,000 for a villa with a sea view.
Popularity: 32% [?]
