Property has always been a wise investment choice. Furthermore, let’s not forget that you can enjoy your property before deciding to rent it out or even sell it further down the line. So why not choose the Mediterranean? It’s a beautiful part of the world with a stunning coastline, mild weather, and a very safe sea. You won't be seeing sharks there anytime soon. Whether you’re looking for property for sale in Paphos or across Cyprus, though, then you’ll be spoilt for choice. What to Consider when Investing in Property Before you launch into your new Paphos project, it might be worth keeping a few tips in mind:
● Location
● Valuation
● Rental or future sale
Location is always the priority when considering a property investment. This is because most people only buy a home that’s conveniently located to shops, schools, and entertainment areas. Of course, some prefer quieter areas, but generally, no one wants to live in the middle of nowhere.
Valuation is an important consideration when buying property, mainly if you're operating in a new country. Therefore, you’ll want to talk to your property developer about financing, tax, and insurance, including any predictions on future trends. Last but not least, will you need to include a property manager in your list of costs? This will be important if you’re buying to rent. Again, talk to your property developer for advice.
Why Focus On Paphos When Looking For Property For Sale
Paphos has now beat Limassol and Nicosia as the best town in Cyprus. This is due to its fantastic scenery and riveting history. Furthermore, it has some of the best restaurants and shopping areas. Nevertheless, let’s look at some of the more general reasons for looking for property for sale in Paphos, as detailed below:
● Getting a European passport
● Easy Permanent Residency Process
● Safe to do business
● Reliable transport infrastructure
● The lowest tax rate in Europe
● Macroeconomic stability and effective legal, banking, and accounting systems
● 2017 European Capital of Culture
A European Passport And Easy Permanent Residency Process
One of the most significant advantages of looking for property for sale in Paphos is that you'll be able to apply for residency and even citizenship. In fact, it’s one of the easiest processes, although there are a few different options to follow. For instance, you can either invest through your business or through buying property. This gives you a fast track for your applications. There are, of course, other considerations, but it's a significant part of the process.
Safe To Do Business
Once you have your residency, you can’t apply for employment, but you can easily set up a business. With its great location and business support services, Paphos is the right choice when becoming an entrepreneur. Moreover, operating in a safe country that's virtually free from crime is also something not to be ignored.
Reliable Transport Infrastructure
Not only is Paphos on the major international shipping routes, but there are also excellent bus, train, and taxi services. Besides, the roads are of excellent quality, and you generally feel connected not just within the country but also globally. The airport is very conveniently located 6.5km southeast of Paphos.
The Lowest Tax Rate In Europe
Aren’t we all looking for tax advantages? Of course, we want to do the right thing and contribute our fair share, but no one wants to be taken advantage of. Well, you’ll never have to worry about that in Paphos. Furthermore, with one of the lowest tax rates in Europe, you’ll be glad you chose to look for property for sale in Paphos for your next investment move.
Macroeconomic Stability And Effective Legal, Banking, And Accounting Systems
Both individuals and business owners benefit from efficient services when it comes to legal, banking, and accounting. Also, living in a stable country with positive growth generally boosts morale and well-being.
European Capital Of Culture
Due to its many festivals and historic sites, Paphos was named the European Capital of Culture in 2017. This is still very evident today by the wonderful museums and cultural events on offer. There’s always an exhibition or gallery to visit as well as various fairs throughout the year.
Final Thoughts On Looking For Property For Sale In Paphos As An Investment Idea
Making a sound investment involves looking at the big picture and balancing the long-term view. This is remarkably easy when it comes to Paphos. Its beauty and the historical and cultural offerings have already stood the test of time.
Most importantly, the building blocks have been in place for a while, including reliable infrastructure and a sound and well-structured banking, legal and financial system. Let’s also not forget the access to schools, universities, and a wide range of industries that can only attract people should you ever wish to cash in on your investment. Then it’s simply a case of working out how you want to enjoy your investment first. Therefore, balance your needs with the market availability when looking for property for sale in Paphos, and you can then sit back and enjoy your new investment project.
