• Hotel For Sale in Ágios Fótios

    Hotel For Sale in Ágios Fótios

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    Property for Sale in Paphos

    Paphos property market– where to buy and what you’ll pay

    Hotel For Sale in Ágios Fótios 1

    Paphos and the west of Cyprus has actually bewitched lots of an international buyer, particularly those of us from the UK. However where’s hot in Paphos in 2020, which are the best locations to buy and what will you pay? We spoke to Dylan Maratheftis of West Coast Property to discover more.

    Paphos has long been popular with British buyers, and it’s simple to see why. You’ve got fantastic beaches, from favourites like Coral Bay to more remote choices outside of the city on the Akamas Peninsula. In Paphos itself and the surrounding villages and towns, you have lots of exceptional tavernas, bars and restaurants, and Paphos Airport has regular flights year-round back to the UK.

    Hotel For Sale in Ágios Fótios

    And there’s excellent news for anybody looking to buy over here– as Dylan tells us, it’s a great time to buy.

    Purchasing ahead of the curve

    ‘ There has actually been a change in the market due to currency fluctuation,’ Dylan says, ‘but it is still a purchaser’s market. In general, we have actually seen a small increase in prices over the last two to three years. With that being stated, Paphos is still among the best value-for-money areas for property purchasers or financiers. We are still no place near the property costs prior to the financial crisis of 2013, so you might really be getting in ahead of the curve here. As for the future, we expect there to be plenty more developments turning up, but likewise an increase in the resale market with the new builds of the past few years.’

    Costs vary depending upon the location and property, as anywhere, however you can generally be guaranteed of much better value than back in the UK. Dylan tells us, ‘in general, one-bedroom apartment or condos start from EUR80,000, two-bedroom homes start from EUR120,000, while townhouses begin at around EUR140,000 and villas at EUR200,000.’ When it comes to additional expenses, Dylan recommends to budget plan around 2.5-6%, with add-on expenses on average being around the 4% mark.

    When it comes to extras, if you’re taking a look at a property with a pol, expect maintenance and so on to be around EUR100 a month. Nevertheless, it’s not a need to– ‘Paphos has a variety of great blue-flag beaches within short ranges. There are also many developments that have the advantage of communal swimming pools, so you do not have the specific obligation of maintaining it, however all the advantages of being able to use it!’

    Where are the very best locations to look in Paphos?

    A lot of the most popular locations, like Ágios Fótios, Universal, will see slightly higher costs. For more cost effective spending plans, such as the EUR80,000 to EUR100,000 variety, Dylan recommends Mandria, Chloraka and Peyia. Mandria is to the east of Paphos, about equidistant to the city itself and Pissouri, with the airport in close reach. It has a number of excellent dining establishments and has seen a fair amount of new developments in the last few years. Chloraka is perfect if you’re seeming a bit more detailed to the town, and want a bit more of a buzz. Peyia, meanwhile, is a bit further inland and perfect for access to the Akamas Peninsula.

    Strong returns for buy-to-let investors

    Paphos’ status as one of the tourist capitals of the island ensures a buoyant market for anyone looking to let out their house, whether as a full-time leasing or if you’re looking to let out your holiday home while you’re not utilizing it. As Dylan tells us, ‘financiers looking to attain great returns are typically purchasing one- to two-bedroom houses and are looking for a return on investment of anything from 4% to 10%.

    For more details about in Cyprus, and if you want to be connected to expert estate representatives in Cyprus, simply complete our query form listed below and our totally free Resource Centre will be in touch.

    Paphos and the west of Cyprus has actually bewitched numerous a worldwide purchaser, especially those of us from the UK. Where’s hot in Paphos in 2020, which are the best locations to purchase and what will you pay? In Paphos itself and the surrounding towns and villages, you have plenty of outstanding tavernas, bars and restaurants, and Paphos Airport has routine flights year-round back to the UK.

    With that being said, Paphos is still one of the best value-for-money areas for property buyers or financiers. Paphos’ status as one of the tourism capitals of the island ensures a resilient market for anyone looking to let out their home, whether as a full-time leasing or if you’re looking to let out your holiday home while you’re not utilizing it.

    The Paphos location guide

    Things to do

    The famed birthplace of the Greek goddess Aphrodite, Paphos offers sea views and magical ruins straight out of ancient folklore. Found on the island of Cyprus, Paphos is divided into 2 main sections that are linked by a central roadway.

    Lower Paphos or Kato Paphos, is the primary tourist centre, with a palm tree-lined seafront fringed with hotels, bars and restaurants. Beyond the busy bars and night life of the traveler strip, you’ll find a relaxing promenade and peaceful backstreets dotted with historical churches and interesting boutiques. It’s also house to the Paphos Archaeological Park, which is well worth checking out for its centuries of artefacts and ruins.

    The old centre of Paphos is known as Ktima and it is the commercial centre of the city where the residents reside. Here you’ll discover well-preserved colonial structures alongside modern shops and museums.

    The Paphos Archaeological Park is one of the city’s most famous attractions and is located close to the harbour. This park houses a comprehensive collection of artefacts and treasures which date back to the second century BC. You might spend a number of days exploring these gems, some highlights consist of a Hellenistic theatre and limestone Roman Odeon, as well as some of the most detailed mosaics in the Mediterranean. The Tombs of the Kings is another star archaeological tourist attraction, as is the Paphos Fort positioned at the marina’s suggestion.

    With a warm climate and appealing natural functions, there’s likewise plenty of outside entertainment to enjoy in Paphos. Sailing, fishing, wine tasting, and golfing are also popular pastimes in Paphos.

    Places to consume

    With a big expat population and busy traveler trade, there’s a wide selection of international food available in Paphos. This ranges from the typical fast food joints, such as McDonalds, to premium dining at a lot of the resort dining establishments in town.

    An emphasize of Paphos’ dining scene is its traditional tavernas, which serve regional wine and a full meze spread. Tyrimos Seafood Dining establishment is a local favourite for fresh seafood, dishing out squid meals and a romantic old world environment.

    Seven St Georges is the go-to destination for meze, with innovative courses based upon seasonal schedule. You’ll find whatever from wild asparagus to homemade sausages on the different platters, consisting of a wealth of meatless alternatives.

    Shopping

    Major shopping centres include The Paphos Shopping mall and Kings Avenue Shopping mall, both filled with small shops along with bigger international brand names. Supermarkets in town include Orphanides Express, Carrefour and Papantoniou, while Debenhams, the British department store, has an outlet here.

    The harbour area includes rows of independent traveler shops, which are good locations to discover locally made handicrafts, consisting of intricate jewellery, leather products, embroidery, pottery, and lace. Head to Nikodimou Mylona Street for designer shops featuring the latest styles.

    Getting there & around

    Paphos International Airport serves the city. Although it’s little, it offers routine services from a variety of airline companies, including charter flights from UK trip operators.

    The Larnaca airport is an ideal alternative option and is only an hour and a half away. Hourly bus services link Paphos Airport with Kato Paphos during the summertime high season. When you have gotten here in Paphos, transport is relatively uncomplicated as there are plentiful taxi services.

    Both Kato and Ktima Paphos are little enough to check out on foot, and bus services connect the two halves of the city. OSYPA is the general public transportation operator in Paphos, with a recently built bus station near the harbour.

    This is likewise the station that offers the primary connections to all nearby cities and suburbs, as well as popular websites such as Aphrodite’s Rock. If you’re looking for a special way to explore the location, donkey rides are available for much shorter ranges.

    Lower Paphos or Kato Paphos, is the main tourist centre, with a palm tree-lined seafront fringed with bars, dining establishments and hotels. It’s also house to the Paphos Archaeological Park, which is well worth going to for its centuries of ruins and artefacts.

    The Paphos Archaeological Park is one of the city’s most well-known tourist attractions and is situated near to the harbour. Per hour bus services connect Paphos Airport with Kato Paphos throughout the summer high season. Once you have arrived in Paphos, transportation is relatively straightforward as there are plentiful taxi services.

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    About Cyprus – WikiPedia

    Cyprus (), officially called the Republic of Cyprus, is an island country in the Eastern Mediterranean. It is the third largest and third most populous island in the Mediterranean, and is located north of Egypt; northwest of Lebanon, Palestine, and Israel; west of Syria; southeast of Greece; and south of Turkey.

    The earliest known human activity on the island dates to around the 10th millennium BC. Archaeological remains from this period include the well-preserved Neolithic village of Khirokitia, and Cyprus is home to some of the oldest water wells in the world. Cyprus was settled by Mycenaean Greeks in two waves in the 2nd millennium BC. As a strategic location in the Eastern Mediterranean, it was subsequently occupied by several major powers, including the empires of the Assyrians, Egyptians and Persians, from whom the island was seized in 333 BC by Alexander the Great. Subsequent rule by Ptolemaic Egypt, the Classical and Eastern Roman Empire, Arab caliphates for a short period, the French Lusignan dynasty and the Venetians, was followed by over three centuries of Ottoman rule between 1571 and 1878 (de jure until 1914).

    Cyprus was placed under the UK’s administration based on the Cyprus Convention in 1878 and was formally annexed by the UK in 1914. While Turkish Cypriots made up 18% of the population, the partition of Cyprus and creation of a Turkish state in the north became a policy of Turkish Cypriot leaders and Turkey in the 1950s. Turkish leaders for a period advocated the annexation of Cyprus to Turkey as Cyprus was considered an “extension of Anatolia” by them; while, since the 19th century, the majority Greek Cypriot population and its Orthodox church had been pursuing union with Greece, which became a Greek national policy in the 1950s. Following nationalist violence in the 1950s, Cyprus was granted independence in 1960. The crisis of 1963–64 brought further intercommunal violence between Greek Cypriots and Turkish Cypriots, which displaced more than 25,000 Turkish Cypriots into enclaves and brought the end of Turkish Cypriot representation in the republic. On 15 July 1974, a coup d’état was staged by Greek Cypriot nationalists and elements of the Greek military junta in an attempt at enosis, the incorporation of Cyprus into Greece. This action precipitated the Turkish invasion of Cyprus on 20 July, which led to the capture of the present-day territory of Northern Cyprus in the following month, after a ceasefire collapsed, and the displacement of over 150,000 Greek Cypriots and 50,000 Turkish Cypriots. A separate Turkish Cypriot state in the north was established by unilateral declaration in 1983; the move was widely condemned by the international community, with Turkey alone recognising the new state. These events and the resulting political situation are matters of a continuing dispute.

    The Republic of Cyprus has de jure sovereignty over the entire island, including its territorial waters and exclusive economic zone, with the exception of the Sovereign Base Areas of Akrotiri and Dhekelia, which remain under the UK’s control according to the London and Zürich Agreements. However, the Republic of Cyprus is de facto partitioned into two main parts: the area under the effective control of the Republic, located in the south and west and comprising about 59% of the island’s area, and the north, administered by the self-declared Turkish Republic of Northern Cyprus, covering about 36% of the island’s area. Another nearly 4% of the island’s area is covered by the UN buffer zone. The international community considers the northern part of the island to be territory of the Republic of Cyprus occupied by Turkish forces. The occupation is viewed as illegal under international law and amounting to illegal occupation of EU territory since Cyprus became a member of the European Union.

    Cyprus is a major tourist destination in the Mediterranean. With an advanced, high-income economy and a very high Human Development Index, the Republic of Cyprus has been a member of the Commonwealth since 1961 and was a founding member of the Non-Aligned Movement until it joined the European Union on 1 May 2004. On 1 January 2008, the Republic of Cyprus joined the eurozone.

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