Property sales continue to grow (19%) for the nine consecutive month in 2017 compared to the same period last year, both from the domestic and especially from overseas markets. During the first nine months of 2017, domestic sales contracts have risen by 12% and to the overseas market by 42% compared with the same period last year.
Paphos continues to have the lead in purchase contracts by foreign buyers recorded at the Department of Land and Registry by 37% in comparison to Limassol which follows with 33%.Larnaca is 3rd with 16.5% and lastly Famagusta with 7% and Nicosia with just 6.5%.
Property sales to the overseas market during September 2017 rose to 25% compared to the same month last year. Property Sales in Paphos rose 66% where sales in Limassol fell 6%
Paphos has managed to remain in first position and to attract foreign buyers and investors who express their preference mainly in seafront luxury villas (Coral Bay, Polis, Chloraka) or modern apartments (Kato Paphos) in organized property developments which provide security, convenience and multiple services, because of its lifestyle, the quality of life, the investment potential and also with the continuous and targeted efforts made by local property developers.
Furthermore, Paphos as the European Capital of Culture for 2017 is linking Continents and Bridging Cultures and aims to be more functional, modern and creative and will affirm its place as a prominent tourist, cultural and investment destination.
Photo: Luxury Seafront Villas in Paphos area