Paphos has made the top 10 of the world’s best locations for buying a holiday home, ranking second behind Venice, according to a study by Australian-based Compare the Market.
Already popular with British expats, this new accolade will attract more foreign buyers to Paphos.
Paphos secured overall marks of 6.91/10 behind Venice 6.92 and ahead of Abu Dhabi 9.70.
A study by Compare The Market analysed locations worldwide based on restaurants, things to do, affordability, cost of living, incidents of crime and the local weather.
On the resulting list of the Best Places in the World to Purchase a Holiday Home, three of the top ten locations were in Cyprus and Greece (Paphos, Corfu and Larnaca).
“While Venice is an amazing place to visit, you might want a holiday home somewhere with fewer tourists where you can really immerse yourself with the locals. In this case, Paphos in Cyprus may be a good choice,” said Compare the Market.
“The city, on the southwest coast of the island, benefits from the Mediterranean climate, with an average annual temperature of 19.2˚C.
“It’s also among the more affordable places analysed with an average house price of €1,547 per square metre.
“As well as several historical sites (particularly relating to Aphrodite, the goddess of love), there’s also the more modern New Paphos area around the harbour with lots of bars and restaurants to enjoy.”
Sixth on the list of the holiday hotspots is Corfu, Greece.
“Studded with whitewashed houses, Byzantine churches, and the remains of Venetian fortresses and Greek temples, Corfu is known as one of the most beautiful and romantic islands of the Ionian island group.”
In ninth place of Top Places in the World to Purchase a Holiday Home is Larnaca.
“Larnaca is a beach resort and port city, known for Finikoudes Beach, a sandy strip in the city centre backed by a palm-lined seaside promenade.
“Buzzing bars line the waterfront at Mackenzie Beach. Just offshore, the MS Zenobia wreck is a popular dive site.
“Larnaca is known for its rich history and cultural sites such as the 9th-century Church of Saint Lazarus, which contains the tomb of Saint Lazarus, whom it was said to have risen from the dead.”
The house price in Larnaca per square metre was calculated at €1,318 – cheaper than Paphos.
However, according to the study, the average monthly cost of living was lower in Paphos (€2,156) than in Larnaca (€2,386).
In Venice, the average property price per sqm was €4,151 and the monthly cost of living €3,108.
But London property was the most expensive at €8,923 per sqm.
Venice was also first for restaurants per 10,000 people with 2,628, and Paphos came third with a rate of 1,511.