Galaxy Residences

Galaxy Residences is the largest entry-point apartment phase in Paphos city centre by Aristo Developers, comprising two blocks (Block A + Block B) with a total of 48 units (31 available). Floor areas range from 113-275 m², with starting prices from €300,000 (excluding VAT) – meeting the threshold for Cyprus PR.

This is a large-scale apartment phase by Aristo in Paphos, positioned for Cyprus PR investment clients seeking the lowest feasible entry threshold alongside a wide choice of unit sizes.

Galaxy Residences Features

Two 5-6 storey blocks, with 5-7 apartments per floor. Layouts include two-bedroom units (113-158 m², priced at €300-400K) and three-bedroom units (185-275 m², priced at €390-650K). Each unit features a private balcony and one underground parking space.

On-site amenities: communal rooftop pool, shared BBQ area, two-level underground parking, 24/7 security, and a concierge lobby. Each unit is delivered to Energy Efficiency A standards with central air-conditioning.

Paphos City Centre Location

Galaxy is situated in a central Paphos neighbourhood, close to the city's main thoroughfares. The area features a diverse, family-friendly international community.

Distances: Paphos Mall (5 minutes), Paphos Marina (10 minutes), American Medical Center (3 minutes), Paphos International Airport PFO (20 minutes), ISOP International School (12 minutes), Coral Bay Beach (25 minutes), and Paphos District Office administrative centre (8 minutes).

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.