Are you considering a move to the Mediterranean but you’re not sure you want to bump into hordes of tourists? Have you fallen in love with the charms of Kato Paphos or the Aphrodite Hills and want to find your new house there? Discovering the great places for the perfect lifestyle usually comes at a price. It never takes too long for the rest of the world to find them too. This can mean busy beaches or queues in shops and restaurants. Nevertheless, even the touristy places have quiet spots you can enjoy. There’s also a neat trick to simply try to live opposite to the crowds. Therefore, aim for late lunches or early dinners. Either way, there are some brutal truths to watch out for when searching for property for sale in Paphos.
6 Brutal Truths About Property for Sale in Paphos
1- Issues with Property Ownership
One of the first things you need to make sure of when buying properties for sale is to have a good property developer and lawyer. There have been known cases of fraud, for example, where the title deeds have been in the wrong hands. Some have even deposited large sums of money only to find out that they don’t own the property they were paying for.
It’s critical to make sure all the paperwork is properly checked before you proceed too far with buying property. Therefore, it’s worth getting a good lawyer even though most property developers will assure you that they can guide you through the legal work. Clearly, they have a good understanding of the law. However, don’t underestimate the expertise of a lawyer, especially when operating in a foreign country.
2- Property Developer Scams
Another sad truth is that scams still do exist. Cyprus real estate has improved hugely over the past few years. Nevertheless, like anywhere else in the world, some try to cheat the system. The good news though is that you can verify this quite easily by asking for your property developer’s license details. The law obliges them to be licensed with the Council of Real Estate Agents.
Again, like anywhere else in the world, you’ll experience a range of quality when it comes to Cyprus Paphos real estate. It is, therefore, a good idea to check your agent’s track record and references. Some have been operating for several decades though which also gives you some confidence that they’re doing something right.
3- Tourist Influence
Most of us tend to try to avoid places with too many tourists. No one wants to see those coaches arrive with large groups of people who then disrupt their tranquil lunchtime view. Regardless, tourism is an important industry and allows places like Paphos Cyprus to survive. Having said that, tourists aren’t all bad because it also means that you’ll have facilities and amenities available.
Furthermore, don’t forget that tourists tend to go to the same places. You’ll therefore be able to escape into the neighbouring villages for example. The trick is to spot the trends of where people go and do the opposite by exploring the quieter areas of the island.
4- Cyprus Low Income Problems
This past year has been tough for everyone due to the pandemic. Whilst Cyprus is a growth economy with a strong infrastructure and good services, it still has a poverty line. Covid has only made things more difficult and you’ll be able to sense some of the tension and strain on people. Perhaps they’re a little less friendly. You might also notice that things are quieter with many places closed down.
It’s worth keeping things in perspective though because all things considered, Cyprus remains a great choice. The government is also reviewing how to continue supporting the economy. One recent example is the aviation scheme designed to support travellers coming into the country again. In addition, the real estate industry will also therefore start to see a rise in demand again. At the end of the day, a beautiful coastline with a UNESCO heritage site and stunning villages dotted around will always have a positive future. Therefore, why not give it a chance and search available properties for sale?
5- Risk of Over-Development
A good thing is often over-enjoyed. This is sadly true for somewhere like Cyprus. When searching for properties for sale in Paphos, you might also notice the amount of construction and properties, especially along the coastline. Nevertheless, there are still idyllic spots that have space and quiet and that are not developed yet. In fact, now is the perfect time to search for property for sale in Paphos and find that perfect area for you.
Over the past years, Cyprus has made a major effort to find the right balance between development, tourism and sustaining the beauty of their island. Not only is Cyprus part of the sustainable development forum but it also ranks high with the European Environment Agency.
6- Covid Impacts Property Prices
As you might expect, covid has impacted property prices and most have decreased. Although, there’s a slight change now indicating that they will start going up again as demand is starting to increase. Also, more specifically, Paphos Cyprus has continued to attract property investors throughout the past year. You therefore never know what deals you’re going to find when searching for properties for sale in Paphos. This could therefore actually end up working in your favour regardless of what property type you’re looking for, including your ideal villa, bungalow or detached house.
Final Thoughts on Searching Property for Sale in Paphos
Of course, any real estate project involves some risk. The goal is to manage those risks and make sure that you work with the right people on the ground. Nothing is black and white in this world. Where something might like negative, there’s usually a positive just around the corner if you look carefully. So why not try to use these brutal truths to your advantage? It could therefore be the perfect time to search for properties for sale in Paphos and find those great deals.