The Eternal City
According to legend, the city, which was the capital of Cyprus during the Roman Empire, was founded by the hero of the Trojan War, Agapenor. Not far from Paphos, the goddess of love and beauty Aphrodite was born from the foam of the sea – if you believe the legend, after bathing near the Aphrodite stone, women gain youth and beauty, men gain strength and courage, and lovers never part.
Many archaeological sites of Paphos are listed as a UNESCO Cultural Heritage Site. The medieval fortress built during the time of Alexander the Great, the ancient city of Nea Paphos with its famous perfectly preserved mosaics, the underground necropolis of the Tomb of Kings, the Byzantine Museum, the Odeon amphitheater - this is not a complete list of places that anyone who is not indifferent to history will want to visit.
At the same time, there are plenty to choose from for outdoor enthusiasts: at sea, these are water skis, motorcycles and catamarans. You can also do paragliding here. Divers will appreciate the Jubilee Shoals underwater gorge with picturesque caves and depths from 17 to 40 m. Those who are more attracted to a relaxing holiday by the sea are waiting for sandy and pebble beaches, the best of them are located in Coral Bay.
Golf lovers can enjoy three Paphos golf clubs: Secret Valley, Aphrodite Hills and the new respectable Minthis Hills project near the village of Tsada.
Paphos is one of the most respectable resorts in Cyprus. The business center of Pano Paphos (Upper Paphos, or Ktim) is home to representative offices of Cypriot and foreign companies, shopping malls, banks, and schools, including Russian and two international ones with teaching in English. There are plans to open a branch of the University of Cyprus in Paphos. A variety of restaurants, cafes and taverns will satisfy the tastes of the most discerning gourmet.
What does the coming day have in store for us?
In November 2008, the modernization of Paphos International Airport, located 15 km east of the city center, was completed. A new aerocomplex with an area of 18,500 sq. m. The airport is designed for 2.7 million passengers per year, has comfortable parking, a VIP lounge, a business lounge, and a modern video surveillance system. The total investment in the project amounted to 126 million euros. The final stage of the work will be the construction of a new highway that will connect the renovated airport terminal with the tourist area of Paphos.
In addition to the three existing golf courses, another international-level course will be built near the village of Geroskipou. But the most anticipated project is the construction of a yacht marina in Paphos. In the area of the village of Kissonegra, 10 km from the city center, the construction of a pier for 1000 yachts with all necessary infrastructure – modern shopping malls, entertainment venues, restaurants will be launched. Of course, such a dynamic development of the resort area significantly increases the investment attractiveness of real estate.
It's getting better and better
Unlike the bustling Limassol, Paphos is a typical resort town, calm, but at the same time large enough and developed so that there is no shortage of any infrastructure. There are quite strict restrictions on building in the city, so all residential complexes do not exceed the height of 4-5 floors. Most of the real estate is offered in the neighborhoods directly adjacent to the tourist and cultural center – Kato Paphos (Nizhny Paphos). Many large construction companies in Cyprus are building here: Pafilia Property Developers, Leptos Estates, Aristo Developers, Paschali Developers and others.
The level of projects offered for sale by developers is growing every year. If 5-7 years ago a typical residential complex consisted of one or two small buildings, at best with a communal swimming pool, today leading developers are increasingly offering comprehensive projects with developed infrastructure, a variety of services, and landscaping. As a rule, developers can offer the buyer a choice between objects under construction, more profitable in terms of price, and ready-made real estate. Prices for one-bedroom apartments in the new complex start from 110,000-120,000 euros.
On the secondary market, you can find cheaper offers – but, as a rule, these are apartments built some time ago and sold by British owners. Residents of the United Kingdom especially love this resort, so for many years they have been doing most of the foreign purchases in Paphos. However, with the advent of the crisis, the weakening of the British economy in general and the pound sterling in particular, many of the owners were forced to sell their real estate, including those bought on credit. As a result, the supply on the secondary market has expanded, and prices have decreased, and Paphos has become more accessible than, for example, Limassol, where the value of real estate has even increased slightly since the beginning of 2010.
Thus, in both the primary and secondary markets, Pathos is gradually pulling over the blanket of consumer interest. The number of Russian-speaking buyers is also growing, who are mainly interested in two price categories: inexpensive offers up to 250,000 euros and prestigious real estate from half a million euros and above.
Cyprus Pastorals
The Paphos region occupies about 15% of the area of the entire island. Apart from the city of the same name, there are few other large settlements here, and a significant part of the offers of resort houses are located in nearby villages.
The villages of Paphos are usually located on the hills, at some distance from the sea, but here you can fully appreciate the calm atmosphere and magnificent nature of Cyprus. "Village" is a rather conventional name, usually there is everything necessary for life: shops, banks, restaurants and schools, but you will have to drive to the sea by car.
12 km along the road from Paphos to Coral Bay, the village of Peyia is comfortably located with a natural spring in the center. This place is very popular with both developers and buyers – there are more than 10 new residential complexes of apartments, townhouses and villas in the vicinity of Peyia. A typical one- or two-bedroom apartment in a complex with a communal pool will cost about 135,000-111,000 euros.
The road from Paphos to Akamas Natural Park passes through the prestigious Paphos suburb of Chloraka, which has also been actively built up in recent years. Here, a new two-bedroom apartment with a small plot of land adjacent to the veranda can be purchased for 145,000 euros. As a bonus, the buyer will receive a check for 6,000 euros for the purchase of furniture.
Polemi is a quiet village in the foothills of Troodos, where the air is full of scents of pine and eucalyptus. In the Polemi Vines complex under construction here, descending from the amphitheater to the communal pool, townhouses with two or three bedrooms will cost 154,000-240,000 euros. The village itself has everything necessary for life, including a school.
Golf real estate
Do not forget that Paphos is the main golf area of Cyprus. Fans of this game, as well as connoisseurs of comfort and high quality, purchase real estate at the large golf resorts Aphrodite Hills and Minthis Hill.
Aphrodite Hills has become one of the most ambitious Cypriot projects in recent years and is almost completed. Prices for apartments that have not yet been sold start from about 400,000 euros (area – 55 sq. m, one bedroom), for villas – from about 1.4 million euros (area – 145 sq. m, two bedrooms).
The Minthis Hills project near the Tsada Golf Course is under construction, the first phase will be completed by the end of 2010, a fully large-scale project will be ready in 2015. Now the villas of modern design Minthis Hills can be purchased at a price of 1.06–2.2 million euros. Each of the projects has a golf club, spa, tennis courts, restaurants, shops.