Buy Abroad News

21 Apr 11

Coral Bay Property For Sale Is Music To My Ears

First things first, if you have found this page because you are looking for Coral Bay property in Paphos, then you are in the right place, feel free to browse our great selection by using the search options to the left of this article. If you have found this page because you are looking for information on Coral Bay in general then read on and enjoy. Coral Bay is located 11 km, or a 15 minute drive, north of Paphos. It is considered the best natural beach in the area. The coastal areas both to the east and west of Coral Bay property are made up of sea caves and rough headlands, but Coral Bay itself is a lovely arc of white sand about 600 m long, bracketed by limestone headlands.

If you choose to purchase a Coral Bay property, you’re buying part of a well-established resort, with many of the villas situated above the top line of the beach. The sea here has a nice shallow edge where children can play safely. During the busier months you can partake of water sports including banana boats, windsurfing, and water skiing.

Close to Coral Bay are large hotels, small markets, banks, bars, restaurants, and an assortment of shops. There are a few casual snack bars overlooking the water, with many more taverns and shops only a quick drive away. Coral Bay property includes everything from apartments to villas and townhouses, and even vacant parcels of land.

Kato Paphos is the harbour area, full of excitement, including restaurants, discos, and bars. For more elegant surroundings, the town centre, Ktima, is located just up the hill and has a covered market, some museums, and fascinating Roman mosaics. There is a castle at the far end of Kato Paphos.

Many of the shops and restaurants are open until late to accommodate the lively night life. Kato Paphos property includes the Ktima area, as the two neighborhoods have merged, filled in with high rise apartments. Kato Paphos has expanded rapidly, and Kato Paphos property is in an area of rapid growth. The fact that the Paphos airport is nearby means that it is easy to reach, too.

South of Paphos is the little village of Yeroskipou, where you can find lovely earthenware and look at frescoes from the ninth century in the local Byzantine era church. To the north are the Baths of Aphrodite and the untamed western Cyprus coast.

As someone who has purchased a property in Coral Bay, I can vouch for the constant demand for rental in the area from holiday makers, not just in the summer but also winter months. Good rental yields are as important to some buyers as the actual house they are buying and Coral Bay offers probably the best return on investment if rental is the primary focus of your property search.

Coral Bay property and Kato Paphos property are two very popular areas for those looking to buy in Cyprus. Cyprus, which joined the EU in 2004 and adopted the euro in 2008, is rapidly becoming known as a modern country that is particularly welcoming to the British. In fact, for Brits, buying property in Cyprus is similar to buying property in the UK. As with all property pruchases it goes without saying that you should always hire an independent solicitor/lawyer and we woudl also advise that you should always make a will in cyprus to ensure that all the proper procedures are carried out if you should buy property in Cyprus.

This is an update to my previous article on Coral Bay property. I have just come back from the area and thought it worth adding my thoughts on where the market is in terms of property. No doubt you have all heard that prices in Cyprus generally have been in decline. It is clear from what I have seen in the last few weeks, that Coral Bay is no exception and we have seen genuine reductions in property prices. I spoke to a couple of estate agents in the area to get their thoughts and the feeling is that while things have slowed down, there is still a demand for rental and that is ensuring reasonable interest in the area from serious buyers. The biggest issue agents have is that buyers are expecting huge discounts on the advertised property price, which sellers are simply not prepared to accept.

July 2011 and just returned from sunny Coral Bay, so thought I would update this page with comments from the locals on the property market. General feeling is that Coral Bay property is still holding its own in a very tough market. I spoke to one chap from Sunderland who had just sold his three bed villa for a shade under £400,000. Crucially he had title deeds. Other than him I could not find anyone else who was overly positive about the market, so the advice seems to be to sit tight and wait for an upturn if you can afford not to sell