With its stunning coastline, beautiful beaches and lush countryside, it's no surprise that the rental market in Paphos, Cyprus has been steadily growing in the last few years, making it one of the most desirable places to rent a property in the Mediterranean region.
The Real Estate sector in Paphos saw remarkable performance during the fourth quarter of 2022. 5,883 transactions worth €1.7 billion were registered, representing a massive 16% increase from the €1.65 billion recorded in Q3 2022 and a staggering 87% compared to the €1.2 and €1.3 billion seen in Q2 and Q1 respectively.
Paphos showed remarkable growth with 3,593 transactions worth €890.4 million - this is a clear indication of how resilient the sector is and how local real estate agents have excelled.
With the upcoming construction of new universities and an influx of students to Paphos, the demand for rental properties is expected to skyrocket in the coming years. And, the new universities will bring an abundance of students to the city, presenting property investors with numerous opportunities to capitalize on the surge in demand. Lease lengths are projected to increase, giving investors even more flexibility to meet the needs of the diverse population.
Blue Sky Houses has been providing expert property advice in Paphos for years. Our experienced team stay abreast of the latest developments in the area, so you can trust us to guide you towards making smart investment decisions in the current property market. If you're looking to capitalize on the anticipated rise in rental demand and secure profitable rental returns, Blue Sky Houses has the expertise and experience to help you achieve your investment goals. Contact us today to get started!