Elysia Blu

Elysia Blu is a lifestyle apartment project developed by Pafilia Property Developers in the Universal area of Paphos, Cyprus. The project comprises 200 apartments spread across 10-12 contemporary buildings, located a 5-10 minute walk from the Mediterranean coast.

Positioned by Pafilia as a multi-phase lifestyle resort, Elysia Blu combines contemporary architecture with a full range of resort amenities – suitable for international investors seeking property that qualifies for the Cyprus Permanent Residency programme under Regulation 6(2), combined with resort-style rental potential.

Elysia Blu Features

200 apartments designed with 1, 2, and 3 bedrooms, distributed across 10 buildings in phase 1 (with 2 additional buildings and 6 luxury villas planned for the next phase). Each unit features an open-plan design with minimalist architectural lines, natural light, and high-end finishes.

Phase 2 adds a hotel-inspired lobby, a second resort pool, a children's pool, a kiosk and mini-market, a wellness spa, a restaurant, and a kids' club. The entire project is surrounded by expansive landscaped gardens designed as a relaxing urban oasis.

The multi-phase structure ensures the community is developed and completed gradually over time, maintaining consistent quality and a clear lifestyle proposition for both new residents and future secondary buyers.

Universal Paphos – the investment case

Elysia Blu is located in the Universal area – a premium residential district in western Paphos, a 5-10 minute walk to the seafront and beaches. The area is close to international schools, top-tier medical facilities, parks, and boutique shopping. Paphos International Airport is approximately 15-20 minutes away by car.

Paphos is a UNESCO World Heritage Site, blending ancient archaeological ruins with Mediterranean coastal scenery. The Universal area is considered one of the most sought-after residential addresses in Paphos, catering to both the long-term residency market and resort rentals.

Pafilia Property Developers – the developer

Pafilia Property Developers, established in 1977 by Elias Eliades, is the largest privately-owned property developer in Cyprus with 49 years of experience and a €3 billion portfolio. Pafilia is behind ONE Limassol Tower (the tallest building on the Mediterranean coast), Minthis Resort, and many other iconic projects. Pafilia is the market leader in Cyprus citizenship and residency programmes.

Cyprus Permanent Residency Programme

Elysia Blu qualifies for the Cyprus Permanent Residency programme under Regulation 6(2). Investors purchasing a new property (first sale) from €300,000 excluding VAT are granted permanent residency for the entire family.

The Regulation 6(2) application includes the spouse, dependent children under 25 years old who are full-time students, and dependent parents of both spouses. Proof of annual income from outside Cyprus is required: a minimum of €50,000 for the main investor, plus €15,000 for the spouse and €10,000 per dependent child. Processing time is approximately 2-6 months. Permanent residency is valid indefinitely, does not require renewal, and only requires entry into Cyprus at least once every 2 years.

Tax Advantages and Yield

Purchasing an Elysia Blu unit as a primary residence allows for a reduced VAT rate of 5% (instead of the standard 19%) on the first 200 m². According to official announcements from Pafilia, Elysia Blu is classified as a resort development under Cyprus law, and therefore investors purchasing for rental purposes may be eligible for a full 19% VAT refund.

Pafilia projects an annual net yield of 5-8% for investment-for-rental configurations, based on the stable demand for premium resort property in Paphos. Specific yields depend on the unit type, management model, and timing. Details regarding the investment structure and rental management should be confirmed by Pafilia on a case-by-case basis.