BBC ESCAPE TO THE CONTINENT SERIES ON PAPHOS AND LIMASSOL

EARLIER THIS YEAR , THE OVERSEAS PROPERTY "ESCAPE TO THE CONTINENT " SERIES FEATURED BOTH LIMASSOL AND PAFOS PROPERTY MARKETS. THEY MENTIONED HOW YOU CAN NOW OBTAIN A PROPERTY FOR A BIG DISCOUNT COMPARED WITH PROPERTY PRICES JUST A FEW YEARS AGO! 

Paphos property scams

There are numerous Property scams that have been operating in Paphos, Cyprus so beware. Many have no title deeds as the properties sold were not built correctly or illegally. Some land was not even freehold as it is owned by the church! Some land is very unstable and there have been cases where developers have built on dried river beds so home owners are flooded every winter. Check out Cyprus Property News for more information.

Property prices drop in Paphos

Property prices continue to slide in Paphos

The Romanian low cost airline is set to axe the Paphos Thessaloniki service. This is on top of Cyprus airways cutting some of its flights to The UK including to Birmingham airport from Paphos airport. Meanwhile Larnaca airport is expanding with new airlines serving the airport. Ryanair is also starting flights to mainland Europe from Larnaca on the 1 December 2010. Pafos seems to be missing out on many things recently. The New Lidl chain opened 7 stores in Cyprus earlier this month, but the proposed store in Paphos is still not ready. Paphos does have a nightmare of a new wind farm though! Meanwhile many expats are trying to leave and cannot sell their properties as they lack title deeds.

Pafos Properties

Properties in Paphos are becoming increasingly expensive with the introduction of the Euro in January 2008, and Easyjet starting flights to Pafos, in April 2008. VAT on land is also meant to be added shortly, in addition to VAT on property which was added in 2004 . Cyprus also has one of the lowest tax regimes in Europe and The EU.