Menu
Expat.com

Paphos real estate prices

Post new topic

expatfor03

Hi! I read the prices for luxury real estate will likely go down, but that does not affect us.

What about middle-class accommodations? Like a penthouse/small row house in Tombs of the Kings. In some places, I read prices will go up because people moved to Cyprus before Brexit so eventually they will buy. In another places, I read several people will leave Cyprus due to Brexit...

No one has the final answer of course, but if you have some insights, they would be very helpful. Current budget is quite tight and subject to mortgage etc. Let's say around Euro 100k to 130k for a real estate where the owner has the deeds.

Thanks

Toon

By no means guaranteed but my gut feeling is prices will drop a little and your budget should allow you to get a  nice two bedroom apartment or a townhouse.  Facebooks market place is a good start to gauge prices and what you can get..
But best advice i can give you is dont buy without being here for a good while  - rent first for maybe 6 months to give you time to get to know areas etc dont rush it if you make the wrong choice you could be lumbered with a property neither you nor anyones else wants

good luck

shotokan101

Hope you're correct Toon - we are on several mailing lists and unfortunately not seeing price drops :(

I did expect to see prices dropping due to the reported floid of expats heading home due to brexit etc.

Hopefully it's just the market being over optimistic and slow to react.....

Toon

i think one has to temper that with real sales and offers on properties...  Like you I dont see a lot of price reductions being advertised but in reality i think properties are selling at less than advertised prices... plus its early days I dont think the brexit issues and the expected exodus has even started yet. I can say that Ive heard of some people leaving but not a lot - selling up and leaving takes a lot of time and negotiations can easily be extended in the hope of getting a better offer.

Again like you we are hoping to see reductions - purely personal of course.

expatfor03

Thank you both! So FB better than Bazaraki etc. to see where demand/offer is going?

Toon

i would use both

B613

I think that the real estate prices in Cyprus can reach the low in the end of 2021 or later.

It depends on how the politicians will act and how the economy will develop. They can always find a way to delay it.

But I assume that at some point there will be a big price drop before it goes up again.

Articles to help you in your expat project in Paphos

  • Buying property in Cyprus
    Buying property in Cyprus

    Are you thinking of investing in property in Cyprus? You are definitely not alone. The interest for real estate in ...

  • Accommodation in Cyprus
    Accommodation in Cyprus

    With a population of 1.19 million, Cyprus is the third most densely populated island in the Mediterranean. ...

  • Raising children in Cyprus
    Raising children in Cyprus

    As Cyprus is one of the safest countries in the world, you shouldn't have any worries about raising your kids ...

  • Accommodation in Nicosia
    Accommodation in Nicosia

    With a population of 200,452 people, the capital city of Nicosia is the most densely populated in Cyprus. Dubbed ...

  • Leisure activities in Cyprus
    Leisure activities in Cyprus

    One of the reasons an increasing amount of expats chooses Cyprus for their new home is the relaxed pace of living ...

  • Northern Cyprus holidays
    Northern Cyprus holidays

    North Cyprus is one of the last unspoilt, most beautiful and popular island holiday destinations in the ...

  • About Cyprus
    About Cyprus

    Close your eyes and be whisked away to the old romantic harbours and sun-soaked stretches of sand that are ...

  • General visa requirements for Cyprus
    General visa requirements for Cyprus

    If you are planning on a short-term stay in Cyprus, you should know beforehand whether or not you will need a ...

All of Paphos's guide articles