In 2017, real estate sales in Paphos rose by 23% compared to the previous year, while the increase is expected to be even higher in 2018. The rise is related to the fact that more and more Cypriot and foreign buyers are investing in Paphos real estate.
An improving Cypriot finance sector as well as the ability of banks to lend more, are key factors that led to the recorded improvement in the property market, Deputy Chairman of the Land Development Association, Giorgos Mais stated.
Mais also also stressed that besides the traditional foreign investors in Cyprus real estate such as the English and the Russians, citizens from other countries have started showing interest, many of them investing in real estate to secure a permanent stay in Cyprus.
