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Cyprus Property News

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Cyprus Property News

First towers in Paphos – SOHO RESORT by Korantina Homes.

Date: 15/07/19

Paphos has entered the high-rise passport-for-investment market with the release of “Soho Resort” by Korantina Homes.

This mixed residential /commercial development will consist of 2 towers of 15 and 16 floors that will form around 118 units of various sizes.

The site that is opposite the luxury couples-only “Amavi Hotel” will be built on by the Meridoro - Celicandia consortium. The starting prices of around 1.5 million Euro for smaller units will reach up to 5 million Euro for the penthouses. Many would say that 16 stories is high for Paphos, but this is dwarfed by skyscrapers of Limassol. There are dozens of towers in the pipeline of up to around 40 stories or 197 meters in the case of the proposed Aura on the site of Woolworths in Limassol’s waterfront.

We wait to see if Paphos will reach for the sky with a rapidly changing cityscape like Limassol. Much will depend on the continuing success of the citizenship-by-investment scheme that was recently tightened by the Cypriot Government under pressure from the European Commission.
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