Buying a Villa in Paphos Cyprus

By: Kev Moore

Paphos in Cyprus is one of the most popular resorts on the West coast of the Island and there is good reason why it is the number one choice with visitors. Whether you are looking for night life or culture Paphos has more than enough of both in plentyful amounts. Even the most ardent culture vultures will find something of interest there. Ancient ruins, old churches and even tombs (empty ones of course) can be found a short walk from the resort centre. It's hardly surprising that the Island is so full of all these places of interest when you consider the number of different cultures that have made Cyprus theirs at one time or another.

The great news is that Cyprus is deep in the throes of a major building boom with new developments springing up all over the Island. Great news if you are looking for a holiday home in the sun or an investment. Prices have risen quickly over the past few years and no where quicker than in Paphos itself. A villa in Paphos makes excellent financial sense not just in terms of capital growth but also as a strong rental investment. Returns on investment in the expanding holiday rental market are showing excellent growth and the market looks set to keep growing apace for some considerable time yet.

The other plus factor to owning a Paphos villa or apartment is the fact it is the only resort in Cyprus actually recognized as an all year round destination. In fact holiday charter flights only fly into the one airport during the winter months and travelers needing to visit the east coast via Larnaca are limited to scheduled flights only. Most of the bars and restaurants in Paphos remain open throughout the year and there is an excellent infrastructure linking the town with the rest of the Island. Due to all these plus factors Paphos has become the number one location to buy a holiday property either for a holiday home or investment purposes.

Of course property is not cheap in the Paphos area but there are still plenty of bargains to be had if you do your homework. Resales are making good sense right now and many Paphos villa developments will have unsold houses on them. These properties will probably have been originally purchased off plan by investors looking to sell them on once the development was finished. Sometimes for whatever reason these villas and apartments "stick" and the speculators need to move them quickly at bargain prices. They are often fitted out with all the extras too like air conditioning and fully fitted kitchens with all the white goods.

Another strong factor influencing Paphos villa and apartment prices is the areas close proximity to most of the Islands golfing facilities. Paphos is the golfing center of Cyprus and where there is golf there is money in property. Again property rentals play a large part in the equation and the rental potential of property near golf is huge. With a villa in Paphos investors would have the best of both worlds. A thriving holiday resort that remains open all year round and golf courses too. It's an investment seekers dream come true and there are rumors of even more golf developments in the area.

Now that Cyprus is in the E.U. prices of these Paphos villa properties look set to increase still further and that's not withstanding the introduction of VAT on property in the near future. This could soon put these kind of properties beyond the reach of average holiday home buyer for good so now may be the best time to make a move. Whatever the future holds for property development in Cyprus the chances are that Paphos will remain a sound investment and there will always be a strong demand for a villa in Paphos.

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