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Paphos is the most popular destination amongst Real Estate Investors

21.01.2015

According to data produced by Cyprus Economic Intelligence (CEI) Paphos was shown to be the most popular town out of all for foreign investments into the real estate between the years 2010 and 2014.

With regards to the figures released by Cyprus Economic Intelligence (CEI) - a databank for the Cyprus economy, 156 residences that are valued in excess of 1 million Euros were sold during the mentioned period.

The CEI reports show that most of the property sales include luxury beachfront residences and villas, which is indicating how low the demand is nowadays for apartments. Some figures of the years 2013 and 2014 are also representing this trend of declining. Once again, according to CEI, in the year 2013, there were 22 property sales completed in Paphos, 15 of which are related to property valued between 2 and 2.5 million Euros.

During the first half of the year 2014, there were 14 sales made, 12 of which are related to properties that are valued at least 2 million Euros.

The overall sales amongst the island, in the first six months of 2014, reached 52 sales over 1 million Euros each.

According to CEI, the most popular areas for luxury properties in Paphos are Neo Chorio, Peyia, Chloraka, Tsada, and Kouklia.

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