Are you looking to invest in property? Perhaps you’re looking to move to a warmer climate with a more laid back lifestyle? Alternatively, maybe you want to develop your property portfolio to build a rental income? Imagine though, owning a gorgeous apartment building overlooking the coastline? What about a townhouse, villa or bungalow in the stunning Aphrodite Hills with all the facilities of a condo? Whatever your dream, now is a great time to invest in property for sale in Paphos.
Why Invest in A Property for Sale in Paphos Now?
Real estate has always been considered to be a wise investment choice. As a tangible asset, the property will always hold a certain amount of value. In contrast, stocks can crash in such a way that you never recover your money. Of course, even property loses value at some point during its lifetime. Nevertheless, as long as you can sit the market out then it will always go back up again someday.
Having said that, we all want to optimize our investments. Therefore, there are a few things to bear in mind when it comes to timings. More specifically, the following themes make Paphos, Cyprus, a great place to invest in today:
- Prices are low and on the way up
- Demand in Cyprus is low
- Construction is low
- Potential government measures to support covid crisis
- Residency and citizenship the easiest process in Europe
- A growth economy
Prices and Demand are Low
Sadly, the pandemic has had a tough impact on many sectors across the world, including real estate in Paphos Cyprus. Prices and demand have decreased because people have not been able to travel so easily. Having said that, you can travel to Paphos currently as long as you have the right paperwork and you don’t come from a red zone country. You’ll still have to do the 2-week quarantine of course.
Prices are on the way back Up
Interestingly, demand for Paphos is actually on the up even though it’s down across the rest of Cyprus. This is because Paphos is 1 of the more picturesque areas that are perhaps quieter than the rest. Another important note is that it still has all the modern facilities that you would need. Also, a coastal town in a safe and well-organized country is always going to attract demand and prices will go back up again. So why not do some research on properties for sale in Kato Paphos or elsewhere in the suburbs and surrounding area?
Construction Activity is Low
When considering investments, it’s sometimes wise to look at construction trends. How much can you expect the area to be built up, for example? Overall, this will also drive the prices back up again. Essentially, supply will become proportionately less than demand, which is on the rise for Paphos.
Potential government measures to support Covid Crisis
This is perhaps a little speculative but there does seem to be a talk about potential government support to boost real estate after covid. These could include tax or commission support but time will tell on this one. Clearly, you can’t necessarily bank on this. Nevertheless, now is the time to review the area as these things are being considered in the background.
Residency and Citizenship the Easiest Process in Europe
It’s worth noting that many investors choose Cyprus. This is because it still has one of the easiest processes for getting your residency and even citizenship. A European passport can be very useful if you’re interested in accessing this continent. You’ll also be able to look for jobs across Europe with a European passport.
A Growth Economy
Even with the pandemic, Cyprus remains a growth economy with infrastructure and services that work well. Not only is this good for businesses but also for entrepreneurs which is a great way to attract investors for the future. Furthermore, there’s a very beneficial tax system for businesses as well as access to labour. All these could make it a great time to buy property because again, housing will only go up in value. This could potentially make a huge impact on your finances should you wish to resell in the future. Let’s not forget also that if you choose to live in your new property then you’ll be surrounded by stunning views with many beautiful walks such as to coral bay, the sea caves and historical sites.
Final Thoughts on Investing in A Property for Sale in Paphos Now
Of course, no one can completely predict the future. However, there are trends and signs that you can watch out for. This is especially true for real estate. For instance, lifestyle and a good business environment rank as great advantages to any real estate market. You therefore can’t go too wrong when looking for property for sale in Paphos regardless of what property type you want to invest in. Furthermore, now is a great time because prices are low and on the way up. So, why not try to get in there before the crowds? You’ve actually got nothing to lose by simply searching. Give it a shot and you never know, you might get charmed into investing by Paphos Cyprus.