Buying a property in Paphos
Paphos (or Pafos) is both a city and a district on the western coast of Cyprus. Paphos is a popular location for international property buyers who enjoy its well-established expat community, historic charm and proximity to the coast.
If you’re considering buying a property in Paphos, this page will share insight into the local property market, highlight popular neighbourhoods and help you understand what you can get for your money in Paphos.
An aerial view of the clear blue waters of Coral bay in Peyia, Paphos
Why buy property in Paphos?
Paphos recently ranked as the second-most-popular location for homebuyers, reflecting 20% of the total transaction value made that year.[i]
Paphos remains a top location for homebuyers in Cyprus, but what is it that they find so attractive about the southwestern city?
Great weather
Due to its location on the western side of the island, Paphos enjoys sunny, humid summers with a cooling coastal breeze. Temperatures reach 35°C in August, the hottest month, while the average annual temperature is 26°C. January is the coldest month but temperatures only tend to drop to a minimum of 13°C.
Well connected
Paphos is home to one of three airports in Cyprus, Paphos International Airport (PFO) which is the second largest in the country. The airport is located 6.5 km southeast of Paphos and has frequent flights within Cyprus and to popular locations across the world, all year, including the UK.
Those buying a property in Paphos may be glad to hear there is public transport from the airport to the city centre and other direct buses to Larnaca, Nicosia and Limassol. There are also 24-hour taxi stands outside the terminal building.
Cultural hub
Some villages surround Paphos, which means the city has become a sort of cultural hub for these villages. Many expatriates in Cyprus prefer to live in the villages just outside the city, giving them the perfect balance of village and city life. Additionally, according to the most recent census, approximately 40% of residents in Paphos are foreign nationals – making it the most diverse expat community on the island[ii].
The Mediterranean lifestyle
With the beautiful Med on its doorstep, Paphos offers residents a traditional Cypriot lifestyle, which evokes the feeling of being on holiday. The Old Town is home to many ancient traditions and events, including the Municipal Market, which operates every day except Sundays. It’s the perfect place to pick up fresh fruit and veg for a fresh Greek salad – a favourite in Cyprus. Plus, with the sea just a short walk away, there’s ample opportunity for residents to engage in water sports, sunbathe and spend their weekends lazing on the sandy beaches.
Rich history
While rich history sounds a little cliché, you won’t find anywhere in Cyprus with more historical significance than Paphos. It’s been inhabited since Neolithic times and has several places dedicated to Aphrodite, the goddess of love. There’s so much to discover here from the UNESCO world heritage site to the sandy beaches.
In the old town, you’ll find the Archaeological Park which is considered the most important site in Cyprus. Hugely popular with tourists, the park holds remnants and ruins of a lost Roman city.
For many expats deciding where to buy in Cyprus, Paphos is the first choice – it’s a livable size, with plenty of amenities and good beaches.
Understanding the property market
Paphos offers a diverse property market that attracts both local and international buyers. This variety comes in all shapes and forms, from apartments in the city centre to traditional villas in a coastal village, there’s truly something for everyone in Paphos.
Some of the most sought-after areas in Paphos include Peyia, Tala, Aphrodite Hills and the Tomb of the Kings area. These locations are renowned for their beautiful views, proximity to essential amenities and overall quality of life.
The prices of properties in Paphos really vary depending on what you’re looking for. For example, a three-bedroom villa with a private pool in the Aphrodite Hills can cost around €650,000, whereas a one-bedroom apartment on a new development can cost €290,000, including access to shared amenities.
There are always cheaper options, however. There are bargains to be found in the Paphos district if you widen your search to the villages that surround the city. There are apartments in Peyia and Anarita for less than €200,000, a huge variety of land plots for those willing to build their home from scratch. Or maybe you would prefer a traditional village home? You’ll renovation projects from €70,000 in Koili, Prodromi and Polis.
According to the Department of Lands and Surveys (DLS)[iii] the average property price in Paphos in 2023 was €331,000 for a house and €179,000 for an apartment. In that time, 40% of property purchases reflected apartment acquisitions vs 29% houses and 29% for land.
Where to buy property in Paphos
Paphos offers several popular locations for property buyers, each with its unique charm and amenities. Here are some of the most sought-after areas:
Kato Paphos
Known for its proximity to the sea and vibrant nightlife, Kato Paphos is ideal for those who want to be close to all amenities and enjoy a lively atmosphere. It’s one of the main tourist attractions in Cyprus as it is home to a number of Blue Flag beaches, the UNESCO Archaeological Park and Aphrodite Waterpark. This presents opportunities for short-term lets. You can find one-bedroom apartments in Kato Paphos from €125,000 and two-bedroom townhouses from €165,000.
Universal
This area is popular for its central location and accessibility. It’s a great choice for those who want to be near the city centre and within walking distance to the beach. Universal has a number of new-build properties for sale in gated communities for as little as €125,000 for a one-bedroom or studio apartment, while a three-bedroom villa would start at around €250,000 in Universal.
Peyia’s beautiful beaches make it popular for expats.
Peyia
Located in the Paphos district, a 30-minute drive north along the coast is Peyia. Property owners here can bask in the sunshine on Coral Bay, tee off on one of the four championship golf courses, or simply enjoy a coffee in the town’s cobbled square with its pretty fountains. Peyia is popular among expats and those looking for a quieter lifestyle. It’s also only a 40-minute drive from the airport, which would suit holiday home owners nicely. Prices vary in Peyia but the average apartment starts at €150,000 and homes start at €300,000.
Tala
Known for its picturesque views and traditional village feel, Tala is around 20 minutes from the beach, perfect for those seeking a blend of modern living and Cypriot culture. The property market in Tala ranges from new developments to modern bungalows and small villas, which are available for less than €200,000.
Chloraka
Chloraka, Paphos offers a peaceful and relaxed lifestyle with beautiful coastal views and a friendly community atmosphere. The property market here is affordable, with a mix of modern apartments and traditional houses, making it an attractive option for expats seeking a balance of comfort and local charm. It’s a good option for those looking for a more budget-friendly property without compromising on location.
Mandria
Mandria is a coastal village that offers a peaceful environment and is becoming increasingly popular among international property buyers. The village is around 13km southeast of Paphos and close to Timi village, also on the coast. Mandria offers easy access to beautiful beaches and has a welcoming community with a mix of Cypriots and international residents. As for property, there are a variety of modern villas and more traditional homes, with prices ranging from affordable to luxurious, making it an appealing location for expats.
Is buying in Paphos a good investment?
Paphos is a popular destination for holiday homes and investment properties due to its sunny climate, beautiful beaches and rich cultural heritage. The area is also well-connected by air, making it accessible for international buyers and tourists interested in short-term lets.
When it comes to high-end properties in Cyprus, 15% of luxury property sales in 2023 took place in Paphos and 17% the year before. In 2023, the region reported 8%, suggesting further growth will continue this year and next.
10 steps to buying a property in Paphos
Buying a property in Paphos is not difficult if you have a plan and some help from professionals. Follow our step-by-step guide to make your dream a reality!
1. Define what you’re looking for: Determine what you want in terms of property type, size, location, accessibility and budget. Separate your must-have features from your nice-to-haves. Allow for buying costs of up to 10% on top of the sales price.
2. Research and planning: Download guides, go on trips, and sign up for events and exhibitions to gather all the information you may need about buying a property in Paphos. Try to narrow down the location you want to buy a property in.
3. Speak to a currency expert: Firstly, you need to know your budget. Secondly, moving exchange rates is a risk in international property purchases, so discuss managing that risk with a forward contract that fixes your exchange rate.
4. Make essential connections: Connect with a local estate agent. The easiest way to do that is to make an enquiry on a property in Paphos. Also, contact an independent property lawyer and maybe a tax specialist too.
5. Viewing trip: Speak to your estate agent about your requirements, then book a viewing trip to visit potential properties. The agent will advise on the best time for that.
6. Make an offer: When you find a property you like, you can make an offer via your estate agent. Your lawyer will begin the legal and due diligence processes.
7. Sign the reservation and sales contract: You may have to pay a reservation fee to take the property off the market. Once approved, and due diligence completed, you’ll sign the contract and pay a deposit (usually 20-30%).
8. Plan for utility connections: The wait begins, this can often take up to nine weeks. It’s wise to look into getting your utilities connected during this time.
9. Sign the final contract: When ready, you’ll be asked to sign the final contract and pay the outstanding amount on the property. Then, you’ll get the keys to your very own home.
10. Register the property: Finally, once you’ve signed the final contract, your lawyer will register the property with the Land Registry to ensure the property is in your name.
You might also like: