Cyprus - Location information - Paphos
Paphos is situated on the south west coast of Cyprus, a smart Mediterranean coastal town with a bustling year-round holiday industry and significant retirement community. The Cyprus government has invested in quality roads and infrastructure and the opening of Paphos International Airport had a significant positive effect on the local economy.
In the wider Paphos district, a new marina is planned in the Coral Bay area which will contribute significantly to the development of the district and is targeted to attract high spending visitors, which will in turn have a multiplier effect on the local economy. Similarly, the announcement of a multi-million pound mixed use development comprising residential and commercial property as well as a hospital and university, in the Universal district of Paphos town has added a further boost.
Paphos already has 3 golf courses adding to the year-round appeal of this area. Its popularity with holiday-makers, investors and expatriate permanent residents alike means the area has good rental and resale markets.
Paphos is a great place to retire as evidenced by the large UK and European expatriate community living in the district. This “community effect” provides an ideal exit when selling property for profit. Any established community attracts other members of that community and as restricted supply and increasing demand combine, property prices are supported.
The Paphos property market experienced strong growth from 1996 to 2002, when four out of five properties purchased were by foreigners for either living or investment purposes. Currently property prices in Paphos are on average 20% higher than similar properties on the eastern half of the island. This price differential has led to an increase in demand for properties in the other districts and a levelling of prices in Paphos. Cyprus is experiencing its own “substitution effect” and with the plans of the CTO to expand the facilities and golf courses, Larnaca and Famagusta Districts are leading the way for property investors.
Tala Village
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Tala is located just 8km north of the town of Paphos, and is a peaceful, welcoming village with tavernas, bars and shops arranged around a traditional village square. This rural hillside area is very peaceful, filled with orange groves, grape vines and almond and carob trees. The tranquillity is broken only by gentle birdsong.
A visit to the Akamas Peninsular, a short drive from Tala, is recommended. This area of largely unspoilt outstanding natural beauty is of ecological significance, and is protected under the Mediterranean protection programme.
Close to the village, attractions include the Agios Neofytos Monastery, founded in the 12th century by the hermit and writer St Neofytos and the outstanding Coral Bay Beach.
Paphos is a 10 minute drive and the Paphos International Airport is a 20 minute drive.
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