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Purple InternationalThe Global Properties website is the best place to choose and buy a villa in Paphos for a foreigner: the catalogue of the service contains more than 1413 ads of villas and houses in Paphos for every taste and budget. There are numerous offers from developers and trusted real estate agencies.
To select a villa in Paphos, set the search options: price range, type of overseas property, its location, total area and other criteria, if necessary.
Choose the most interesting ads, study the photos and information in the description of the property.
The next step is to contact the seller. You can do this by sending a private message or by making a phone call. This is followed by online or offline viewing of property in Cyprus and, if the buyer is satisfied, a deal is concluded.
- The starting price of a house in Paphos is €290045.
- The highest villa prices in Paphos reach €16 million.
The cost of villas in Paphos depends on a couple of factors, including:
- Total area;
- Number of bedrooms;
- Distance from the sea coast;
- Social infrastructure and amenities in quick access;
- Finish quality;
- Year of construction of the building.
The initial house prices in Paphos is €155,000. The highest villa value is €16,000,000.
The prices of villas for sale in Paphos are as follows:
| Number of bedrooms | The lowest price (€) | The highest price (€) |
| 2-bedroom | 59,000 | 1.33 million |
| 3-bedroom | 107,000 | 3.5 million |
| 4-bedroom | 205,000 | 7 million |
| 5-bedroom | 310,000 | 7.5 million |
| 6-bedroom | 625,000 | 8 million |
| 7- to 10-bedroom | 799,000 | 16 million |
- The minimum area of houses for sale in Paphos, Cyprus, is 35 m².
- The size of luxury mansions reaches 1,300 m².
If a foreign citizen desires to obtain permanent residence in Cyprus in 2024, they need to:
- Buy a house in Paphos worth at least €300,000. The deal must be concluded directly with the developer.
- Confirm an income of at least €50,000 per year. The money must be received outside the island. When the applicant issues permanent residency for their family members, they must show an additional €15,000 per each spouse and €10,000 per each child as part of their total income.
- Present an official certificate of no criminal record.
After fulfilling these requirements, the investor makes an application for permanent residence status. The document has no expiry date; however, the resident's card must be renewed every 5 years.
Applicants are not allowed to work in Cyprus, but they can do business and invest in the local economy.
After the application is approved, it is essential to visit Cyprus within a year to provide biometric information to register the document. It is sufficient to visit the island once every two years to maintain the country’s resident status.
Villas for sale in Paphos
The combination of a pleasant climate, beautiful nature, historical monuments and modern amenities makes Paphos a favourite place to purchase villas and houses. Foreign buyers are interested in local properties. Cyprus grants ownership of land and housing, which makes an investment villa in Paphos more attractive and affordable for citizens of other countries.
A sale begins with the signing of a preliminary agreement, after which the buyer makes a deposit. This is followed by the process of verifying the legal purity of the documents for the overseas property. After confirming all the details and paying the cost of the villa for sale in Paphos, the transaction is completed by signing the main contract and transferring ownership rights, which is registered with local government agencies.
Buyers of real estate on the island can take advantage of mortgages from local banks. The loan rates range from 2.2% to 5.3%. If a non-resident of Cyprus takes out a loan, the bank requires an increased down payment of 40 to 70%.
When buying a villa in Paphos, customers must pay the following government fees and taxes:
- VAT: 19% is the standard rate; 5% is preferential (when buying a first home for personal use; there are restrictions on area and cost).
- Property registration fee: the amount depends on the price of the property and ranges from 3 to 8%.
- Annual real estate tax: it is charged depending on the estimated value of the house for sale in Paphos.
Reasons for investing in a house in Paphos
Villas and apartments in Paphos are popular properties for foreign investors, as it is a resort place. The city is known for its archaeological sites included in the UNESCO World Heritage List, beautiful beaches and picturesque mountain landscapes. All this attracts numerous tourists from all over the world.
The return on investment in local real estate is about 4.75% per year. Another benefit for investors is the annual increase in housing prices in the island’s resort areas.
Buying villas in Paphos
Buyers from abroad can choose and buy a property in Paphos on their own at Global Properties. The constantly updated extensive database makes it easier to study up-to-date ads from various sellers without having to visit several websites. Buyers can compare diverse options of houses and villas in Paphos for investment based on their cost, amenities, location and other criteria. When investing in a house in Paphos, foreign customers can complete the process of acquiring a residential unit without visiting Cyprus, which saves time and money.