Melania-Begonia Residences

Melania-Begonia Residences is a complex of 2 blocks in Paphos, Cyprus, with a total of 18 residential units divided into 2 product lines: Block 1 comprises 10 apartments on 2 floors and Block 2 comprises 8 maisonettes. All 18 units are available, with prices starting from €300,000 excluding VAT, fully meeting the Cyprus Permanent Residency Regulation 6(2) threshold. The project is developed by Aristo Developers within the “Melania Gardens” series with a Block D-Begonia design style.

Melania-Begonia Residences Features

Block 1 consists of 10 apartments distributed on the 1st and 2nd floors, with 5 units per floor (2 two-bedroom units and 3 three-bedroom units). The two-bedroom units range from 115-149 m², and the three-bedroom units range from 138-161 m². Block 2 consists of 8 maisonettes (duplex-style townhouses) with 4 two-bedroom units ranging from 147-149 m² and 4 three-bedroom units ranging from 168-172 m². Maisonettes offer the advantage of separate two-storey living spaces, private balconies/gardens, and independent entrances. All units have Energy Efficiency Class A certification and come with 1 private parking space.

Paphos – the investment case

Melania-Begonia Residences is located within Aristo's Melania Gardens development in Paphos. This area is part of Paphos city centre/seaside, 5-8 minutes' drive from Paphos centre and 20 minutes from Paphos International Airport. Paphos is a UNESCO-recognised site with the Kato Paphos archaeological park and is a highly liquid property market thanks to year-round intra-European tourist flows.

The difference — apartment or maisonette?

Cyprus Permanent Residency clients often consider two options within the same project. Apartment Block 1 has the advantage of higher floors, wider views, and simpler maintenance; suitable for clients planning to rent out or use periodically. Maisonette Block 2 has separate two-storey spaces and private gardens; suitable for clients who consider this a long-term holiday home for multi-generational families.

Aristo Developers – the developer

Aristo Developers, established in 1980, is a leading property developer in Cyprus with over 40 years of experience. The “Melania Gardens” series is one of Aristo's popular residential collections in Paphos with many versions (Block C, D, E, H) successfully handed over.

Cyprus Permanent Residency Programme

Melania-Begonia Residences meets Regulation 6(2) requirements, with most units from €350,000 qualifying as a single asset. Units priced at €300,000-€310,000 can be combined with 1-2 other units within the same project. Cyprus Permanent Residency grants permanent residence to the entire family, with a fast-track process of 2-6 months, requiring only one entry to Cyprus every two years. A minimum annual income of €50,000 from outside Cyprus is required for the main applicant.

Tax Advantages and Yield

A reduced VAT rate of 5% applies to the first 130 m² for transactions under €475,000 and built areas under 190 m² — most 2-bedroom units at Melania-Begonia comfortably meet this. The 3-bedroom maisonette units of 168-172 m² also fall within this threshold. Paphos offers a long-term rental yield of 4-5% per year; maisonette units can achieve 5-7% if exploited for short-term seasonal rentals (market reference data for 2025-2026).