Paphos Property. Finding the Best Paphos Property Deals

By: Kev Moore

Cyprus holiday homes are still selling like hot cakes and Paphos property is one of the top choices for many investors. The attraction with Paphos is that its the only all year resort on the West coast of Cyprus and many of the businesses remain open throughout the winter months. This is great news for those astute enough to invest in Paphos property because they are able to take full advantage of the Islands holiday rental market. Holiday rentals in and around the Paphos area are in fact making some of the best returns on investment ever. Thanks to this lucrative letting market many buyers are even finding themselves able to fully fund their investment just by renting. Even long term rentals are commanding higher returns than elswhere in Cyprus also due to the resorts all year status.

As with other parts of Cyprus Paphos is in the midst of a property boom with new developments springing up all over the area. All types of property are available from one bedroom apartments to luxury sea front villas with private pools.The fastest moving market are the two bedroom apartments built in complexes with a communal pool area. Prices for this type of Paphos property vary greatly depending on the location of the development. The rule of thumb being that the nearer the sea the more you should expect to pay for any kind of property. A sea view will of course cost you a premium and there are no guarantees that you will get to keep it either. Unlike the U.K. the planning restrictions in Cyprus are a little more lax but the property investors mantra of "location, location, location" still applies.

The higher up your apartment the more you should expect to pay especially for the so called "penthouse" apartments. Having said that, in a three floor block some middle properties are likely to be the least expensive. This is due to some ground floor units having the added benefit of private terraces. If you are considering purchasing a Paphos property with the sole intention of renting it to Cyprus holiday makers there are a few things worth bearing in mind. People are lazy especially when on their holidays so they won't be coming back next year if the resort is miles away from your house or apartment. Furthermore they aren't going to bother recommending it to any of their friends either so once again location is a prime factor. People see their holidays as a time to chill out and relax preferably on the beach or by a pool hopefully having the choice of either. Its therefore almost a prerequisite that your Paphos property should have at least a shared pool and sun terrace if you are catering for the Cyprus holiday rental market.

Like anything else in life you only get what you pay for and Paphos property is unlikely to be an exception to the rule. If a deal sounds just too good to be true the chances are it most probably is. Its advisable to do as much research as possible before committing yourself to any binding contract. Whilst most Cyprus property developers and real estate agents operate in a highly professional manner the business has its fair share of shady characters. With such big profits being made by developers and agents there will always be someone looking to make a quick buck without offering a credible service so be on your guard. Again, a little research will take you a long way and could save you a lot of potential hassle further down the road. Once you have found a developer that suits your needs check out some of his recent projects. Not just the price and build quality but knock a few doors as well. Ask owners those awkward questions about after sales service, customer care and snagging. If they are happy the chances are you will have found your perfect Paphos property.

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