The real estate industry is always impacted by various trends and people’s preferences or fears. Whether you’re a first mover in any market can make a difference to your investment opportunity. Although, real estate tends to be a bit more emotional. This is because you might actually want to live in the property you buy. Again, this applies when it comes to searching for property for sale in Paphos because you could finally be finding your dream holiday home. So, check this out to give you an idea of what’s available on the market at the moment.
Why is Property for Sale in Paphos so Trendy these Days?
The first question you might be asking yourself is why Paphos Cyprus? Many foreigners are focusing on this coastal town for several reasons, including the ones listed below:
- Quieter lifestyle
- UNESCO heritage site
- Picturesque villages
Quieter Lifestyle
Many people prefer the Paphos lifestyle because the town is smaller and less busy than the larger neighboring cities such as Limassol. In fact, people often commute to Limassol every day from Paphos. Also, Paphos has a much wider range of styles of the location to choose from. For instance, you can find property for sale in Paphos in Coral Bay or overlooking the Sea Caves. Then again, you can also opt for the buzzing Kato Paphos town center with all the bars, cafes, and nightclubs. Regardless of your preferences, there’s something for everyone including for the party-lover, the avid sportsperson, and even the recluse who prefers a simpler life.
UNESCO heritage site
Living on a UNESCO site, such as Paphos Cyprus, is a privilege. This is true both in terms of supporting the global community and in being part of sustainable development. Not only does this mean that you’re guaranteed a beautiful place to live in but that any growth will be managed ethically. Of course, it also means that you have some great walks and tours to offer your friends and family when they come to visit. Therefore, you might want to think ahead and get enough bedrooms and bathrooms in whatever property type you end up buying in Paphos Cyprus.
Picturesque villages
Paphos Cyprus is actually part of the larger Paphos District that also includes several villages. Each one is charming with its own unique set of restaurants, shops, and style. You’ll also notice that each village does its traditional festivals differently but you can easily travel around and enjoy them all no matter where you buy. Either way, you’re guaranteed all the modern amenities near your house that you could possibly want. So, why not check out familiar names such as Talla, Chloraka, Tremithousa, Kissonerga, and Universal?
Real Estate Trends in Paphos Cyprus
It’s not just about Trendy Paphos but also about what properties people are buying. You might want to follow the crowd or on the contrary, do the opposite thing. Therefore, have a look at these key themes:
- Property type
- Location
- Rental market
Property Type
As you might expect, there are different types of homes you can view. This depends on whether you want to buy a bungalow, villa, apartment, or detached townhouse. Interestingly, apartments are slightly more in demand than houses although people don’t seem to have a preference on what floor apartment they’re on. Although, the top floor tends to have larger apartments or penthouses.
Apartments, in general, seem to be popular because of the lower investment required, depending on size and convenience. Apartments are usually part of building units that are managed and maintained. This is particularly helpful if you’re buying a holiday home because you then know there is always someone keeping an eye on things whilst you’re away. Also, don’t be fooled by the word apartment because there are some very luxurious ones available with up to three or even six bedrooms.
Location
Many holiday homeowners opt for the more buzzing Kato Paphos town center. on the other hand, retirees often prefer the quieter Aphrodite hills and surrounding villages. Of course, this comes down to personal choice and what you want to use your property for.
Rental Market
Perhaps you’re interested in entering the rental market? In that case, you should consider where people want to rent. For instance, holidaymakers want to overlook the sea or be in the center of where it’s all happening such as Kato Paphos. Naturally, there was a drop in rental prices during the pandemic’s travel restrictions, but these are now back up on the rise. This could therefore be your perfect timing.
Final Thoughts on Trends of Property for Sale in Paphos
Coastal towns are always going to be popular. It’s therefore really up to you to decide how to make the Paphos Cyprus real estate market work for you. What properties can become your dream home? Alternatively, perhaps you can offer yourself a new rental income stream. Either way, the hot trends seem to buy properties in Paphos and to focus on apartment buildings. So, what’s your choice going to be?
