Aquamarine Coastal Villas

Aquamarine Coastal Villas is a high-end seaside villa development by Aristo Developers in Paphos, comprising 41 villas with 3 to 5 bedrooms. The project is located on the coastal strip of Coral Bay – Peyia, one of the most dynamically developing tourist areas in western Cyprus.

Each villa is designed on its own plot with a private pool, garden and views of the sea or the natural resort. Starting price €795,000 (excluding VAT) for a 3-bedroom villa with a built floor area of 230 m² or more – eligible for the Cyprus permanent residency programme under Regulation 6(2).

Aquamarine Coastal Villas Features

The development is designed in a contemporary Mediterranean architectural style with minimalist lines, using natural stone, oak and panoramic tempered glass. The average built floor area of the villas ranges from 232 to 329 m², suitable for large families and long-term holiday needs.

Each villa has a private pool, landscaped garden, BBQ area and covered parking space. Energy Performance Category A, including high insulation, solar panels and solar water heater.

Coral Bay – Peyia Location

The Coral Bay – Peyia area is approximately a 15-minute drive from Paphos city centre and about 30 minutes from Paphos International Airport (PFO). This coastal area features the famous sandy Coral Bay beach and Marina Cape Greco, chosen by many European residents as a year-round holiday destination.

Nearby amenities include: Coral Bay Beach (1.5 km), Kings Avenue Mall (12 km), Iasis Hospital Paphos (15 km), ISOP International School (8 km) and Aphrodite Hills Resort 18-hole golf course (45 minutes' drive).

Aristo Developers – the developer

Aristo Developers is one of the oldest property developers in Cyprus, operating since 1980 with a portfolio of over 50 projects across the island. Headquartered in Paphos, the company specialises in developing holiday villas, apartments and golf resorts, notably the 1,000-hectare flagship Venus Rock Golf Resort.

Aristo has handed over thousands of properties to clients from the UK, Russia, China, Israel and the Middle East over four decades. The company is one of the few Cyprus developers with its own golf course and a full property management system.

Cyprus Permanent Residency Programme

Properties in this subdivision (prices from €300,000+VAT) are eligible for the Cyprus permanent residency by investment programme under Regulation 6(2) – also known as Category 6.2. This is one of the fastest permanent residency programmes in the EU, with a fast-track processing time of 2-6 months.

Key requirements: (1) minimum investment of €300,000 excluding VAT in NEW residential property purchased directly from the developer; (2) minimum overseas income of €50,000 per year (plus €15,000 for spouse and €10,000 per child); (3) clean criminal record; (4) suitable health insurance.

Benefits: permanent residency for the whole family (spouse, children under 18, financially dependent children aged 18-25), no continuous residency requirement, only one entry every two years is needed to maintain status.

Tax Advantages and Yield

A preferential VAT rate of 5% applies to the first 130 m² of a primary residence, provided the total transaction value is under €475,000 and the total built area is under 190 m². Above these thresholds, 19% VAT applies to the entire transaction. Investment properties for rent are subject to the standard 19% VAT.

Cyprus has double taxation treaties with over 65 countries. Capital Gains Tax is 20%, applied to gains exceeding inflation adjustments and a personal exemption of €17,086. The average market rental yield in Paphos is 3-5% per year (gross) for holiday properties, according to the Cyprus Real Estate Market Report 2025.