Paphos in Cyprus still remains the number one resort on the Islands West coast and this of course has done wonders for property values in the area. There is however still lots of room for even more growth in this lucrative Cyprus property market. Bargain Cyprus properties can still be located all over the Paphos area by those astute investors or holiday home buyers who know where to find them. The prospect of finding good deals on Paphos property substantially increases when prospective buyers open up their options to include resale properties too. The development of property in the Paphos area has been expanding for several years now and many of the older builds are now finding their way onto the Cyprus resale property market.
It's not just older properties either that are sold under the banner of "resales" because there are large numbers of virtually new built Paphos villas and apartments being sold as resales too. These will usually be in the form of property that was originally purchased "off plan" by speculators with the intention of selling at a profit on completion of the development. Whilst the owners are awaiting a sale they may have been rented either to the lucrative Cyprus holiday rental market or to short term tennants. Many such lets would be to people wishing to live in the Paphos area whilst they await completion of their own new build Paphos properties.
There is even a good chance that your resale Paphos property may never have been lived in at all. Speculators and investors will be advertising these villas or apartments for sale as soon as they are nearing completion and they need to sell to reinvest the capital in the next development. Often as not these properties will have one or two "sweeteners" included in the deal such as fully equipped kitchens complete with all the white goods or maybe even air conditioning thrown in too. Don't get the wrong idea though these hard nosed Paphos property investors are in it for the money so they may be hard to crack. The bottom line is however that they make money from money so in many ways they could be seen as motivated sellers.
As the old saying goes "money talks" and buyers that have their finances lined up ready are always going to be in a good position to drive a bargain. Property in Cyprus is not immune to this golden rule and particularly in a thriving area such as Paphos so like the boy scouts it pays to be prepared. Unless you have been marooned on some desert Island for the last 50 years you will know that there is big money in property so these sellers do have room to manoeuvre. If you can't get the deal you want (within reason) move on to another property. Don't allow yourself to be blackmailed with the usual lines like "this is the last one" the price is going up next week" or any of the other hard sell patter that will most likely be headed your way.
There is always another Paphos property to buy, in fact new villas and apartments are coming onto the Cyprus property market on an almost daily basis. The very fact that all this development continues at such a pace almost guarantees buyers a good deal because the Paphos property developers and speculators have got to sell somewhere. There is little doubt that prices in Paphos and the surrounding area will continue to rise steadily for some time to come so buyers wishing to cash in should move soon. Paphos villas and apartments are ideal for the small investor or private buyer due to their ease of rental especially to the booming holiday market. If you are considering purchasing property in Cyprus Paphos may be a great place to look.
