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Cyprus Property News

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We give sharp, insightful comments on issues affecting the Cypriot property market. No nonsense reflection of current events and market trends as well as news on property tax and general legalization changes in Cyprus.

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Cyprus Property News

Next generation Russian buyers pick up bargain properties in Cyprus.

Date: 29/07/13

It’s no secret that the majority of our buyers are Russian speakers. Our main sign outside our office in Paphos is in Russian and we boast our two associate offices in Moscow and St Petersburg.

Over the years we have witnessed several tendencies within clientele. Firstly Russians have steadily changed their preference in terms of location from hectic and overpriced Limassol to green Paphos, enjoying the reputation of a luxury year round resort with developed infrastructure. Paphos became a choice area for quality properties at realistic prices. Following that was a steady change of the mean age of our Russian speaking clients. Majority of our Russian buyers represented late 30s and over age group, looking both for holiday homes and permanent residence. However, a recent trend brings a few very young couples in their 20s and early thirties.

As Cyprus weaves its magic on a whole new generation of Russians the results on the street are more and more apparent. One can’t avoid hearing Russian speech in the shops and restaurants, on the walks and on the beaches of Paphos. Is Paphos due to follow Limasol and become a Russian town? Some would argue it is already there. A quick listen to what language is in use in the Paphos, at the harbor, in the supermarkets and even at schools, would leave a casual visitor thinking he or she had landed in Moscow! One thing is certain – the younger generation of both tourists and purchasers of property in Cyprus makes a nice change for Paphos, town long associated with the retirees. Young, energetic, educated and affluent Russian visitors are the new reality of modern Paphos. 

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7, Tombs Of the Kings Ave,
Paphos, Cyprus

+357 26102242