Located on the south-west coast of Cyprus the city of Paphos can be found, which has the reputation of being one of Cyprus's main tourist and luxury residential areas in Cyprus.
Paphos benefits economically from Paphos International Airport, providing travelers, tourists and international investors an easy way to reach this key location in Cyprus.
There is a good deal of international interest on Paphos from private buyers and investors, focused on holiday or vacation homes, luxury villas, and other luxury properties such as flats and apartments, with buyers coming partly from Northern European countries including the UK, Germany and Scandinavia.
"Cheap property" in the luxury market doesn't always mean a low price, as a 'luxury property' that is undervalued for the current real estate market place status can be seen as being cheap.
A $1M home might be "cheap" compared to others at $2M that are located in Paphos, but the price difference for what seems to be very similar properties could be for a wide range of reasons.
If the luxury property has become distressed or foreclosed they are often sold below market value and at time through auctions. Or it could be the seller, for personal reasons like a job relocation has special reasons for letting the property be sold at a very low rate.
In emerging luxury markets luxury could be listed as undervalued in relation to future expectations, for areas such as growing neighborhoods in cities that are becoming popular, like those with infrastructure improvements or tourism growth.
Luxury buyers often have leverage as they have the financial means to purchase, especially in slow markets where borrowing from a bank is harder.
Properties bought below market value in luxury areas, such as Paphos property listings for sale by owner especially when looking at cheap Paphos real estate listings by owner which can be cheaper than listed via an agent, can often see strong appreciation if buying below market value.
Economic or political fluctuations can temporarily depress prices, allowing investors to acquire premium assets at a cheaper rate.
FEATURED CYPRUS LISTING
Location : Paphos, South East Cyprus
Property Type: ApartmentProperty Terms: For SaleLocal Currency Price: Price in USD: $558,164
Paphos generally has a very stable property market and purchasing or selling properties is done in a transparent manner. Paphos is well-regulated, with strong legal protections for ownership, and relatively low political risk provides peace of mid to investors and private buyers looking for real estate opportunities.
In sought-after cities and tourist destinations, property values have shown consistent long-term growth-especially in areas with at times limited supply.
Real Estate Agents and Property Developers in Cyprus
