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average prices in paphos and surrounding areas

Posted by emba - Created: 8 years ago
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8 replies (Showing replies: 1 to 8)

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Posted by emba - 8 years ago

or are we saying that holiday homes are priced down by those who are unfortunate enough not to be able to sustain them etc, hence kept out of survey ? not sure why they would keep them out, as this does not reflect a truer picture of average prices....

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Posted by emba - 8 years ago

thanks Nigel, and the difference being that holiday homes are cheaper due to the fact that they lie in areas that maybe less accessible to town etc?if so where do beach side holiday homes lie, that are close to town?, I am not too clear of the distinction between the two...

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Posted by emba - 8 years ago

thanks Nigel, and the difference being that holiday homes are cheaper due to the fact that they lie in areas that maybe less accessible to town etc?if so where do beach side holiday homes lie, that are close to town?, I am not too clear of the distinction between the two...

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Posted by Nigel Howarth - 8 years ago

Hi emba,

RICS Cyprus is now publishing a quarterly property price index. Their latest index had the price for an 85m2 residential apartment in the Paphos area at €147,220.

(I stress residential because many of the apartments in Paphos are holiday homes).

Regards,

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Posted by emba - 8 years ago

thanks for the reply, it is all up in the air....regarding property sales, and the deeds side of things does not help either i guess...unless selling to locals

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Posted by kazanddave - 8 years ago

This a difficult question for anyone to answer.
Gone are the days when you could buy and sell for a profit.
If its less than 6 yrs old be happy if you get what you have paid for it.
No title deeds means- not much chance of a buyer.

147,000 euros used to be £85,000CY, that was an average price for a new 2 bed 85 m2 apartment 5 or 6 years ago.
A large 120m2, 2 bed bungalow sitting on a good size piece of land, with pool and great views on 3 sides nearby us has just sold for 170,000.



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Posted by emba - 8 years ago

thanks for the reply, am looking to sell to be frank hence the need for a valuation,
and apart from the rics index that mentions paphos and 85 square metre apartments costing an average 147000, i can see no pattern to figure out costs in say one of the three areas i mentioned, like i mentioned some new complexes are charging 2000 euro per sqaure meter and some are charging 1000....could have somthing to do with developers costs and what they owe to banks and they just cannot advertise for less...plus yes agents fees of 5% and vat doesn't help..so i am trying to factor this
into the cost when it comes to advertising privately....nothing like the uk where you could get a snapshot
of average prices per London borough unfortunately,that would have been great

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Posted by M Gee - 8 years ago

Emba

You won't get a definitive reply as everyone will charge you as much as they think you can afford + 30%.

A sea view is the most important factor and yes, they will build in front of you tomorrow to completely spoil your view.

Good luck.

M Gee