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How much is rent in Paphos?

Posted by saxfairy - Created: 8 years ago
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3 replies (Showing replies: 1 to 3)

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Posted by kazanddave - 8 years ago

I would say 400 is probably average, depends also on what village, ie Tala would fetch more than say Emba
I think that gone are the days when having aircon and Sky would demand more rent, they now just make the let more attractive over a let that doesn't have these things. Good views help.
If you think that your place has the edge over other lets, try 450 or 500 and see how it goes.

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Posted by danielhoward - 8 years ago

Paphos is more tourism than Larnaca and Limassol - so incomes are typically lower. Lower incomes means lower rents etc. to spend!

By the way, can you send me some details on the property? Thanks

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Posted by AndrewMoni - 8 years ago

Do make sure you differentiate between what is asked/wanted, and what is paid!! I always take a house value as being an invitation to buy and assume - maybe wrongly in some cases - that the seller is expecting at least 10% below the asking price. Same goes for rents - they are quite negotiable out here due to the surplus housing around. You may see higher prices advertised - but do they actually get that rent? Are they private or company/business lets?Will they take a reduction?

Don't try and compare Paphos to other areas either - the markets are quite quite different - as is the difference between short term (under 12 months) and long term etc etc etc. Not trying to teach a grandmother to suck eggs - just saying that your property is 'worth' what you can get for it - and comparisons can end up being extremely misleading if not in possession of all the facts and details surrounding the particular rental.

You may want say 600, it may be worth 600 in your eyes, but if you can only get 400 then it's only worth 400. If prospective tenants all try and beat you down to 400(ish) then that will be the right price! Too few viewers or offers probably means that the price or advertising is wrong. Try and get more valuations or offers or have 2-3 agents round to see what they say, then form a reasoned level of expectation in the light of the 'expert's' opinions as to the rental value - but don't take the view of just one.