THE PAPHOS municipality of Pegeia (Peyia), which lies some 14 kilometres north of Paphos town on the west cost of Cyprus, is the focus of an analysis of property sales in the area over the past three years carried out by Delfi Partners and Co.
Pegeia has the largest British expat population concentration at municipality level not only in the Paphos district but also in Cyprus.
Delfi reports that over the past three years a total of 54 houses were sold in the municipality, 70% of which are in the residential zone at the heart of the village, 15% were sold in the touristic zones, while the remaining 15% were holiday villas.
With 14 sales in 2013, 17 in 2014 and 23 in 2015, Delfi considers that the gradual increase in house sales in the municipality demonstrates the diminishing effect of the 2013 crisis and a gradual resurgence of the local economy and the demand for houses.
There are still vast swathes of empty, unsold or unfinished developments throughout Peyia.
Sales of 54 properties in three years is hardly an indication that things are on the up.
Peyia Municipality would do better to place a ban on any further new builds, until all the existing empty properties in Peyia are sold or occupied.
The municipality should spend more money and time in cleaning up the roads and pavements of rubbish and weeds.It is disgraceful the lack of time that is spent cleaning up Peyia.
This website and comments by Nigel is much appreciated by everybody and much appreciated by everybody in the real estate sector – but strange to get comments by a real estate company that nobody has heard of before!
Ed: I’m surprised you’ve not heard of the company. I’ve published six of their reports over the past two years – and twenty three if you include the company’s managing partner. (The Cyprus Mail has published twenty eight).