Pelagos Beachfront Villas

Pelagos Beachfront Villas is a beachfront villa project in Chloraka, north of the Paphos tourist centre, comprising 3, 4 and 5-bedroom villas situated on plots ranging from approximately 270 m² to over 1,000 m². The entire project borders the 5-star King Evelthon Beach Resort, a 0-minute walk from the beach and approximately 20 minutes' drive from Paphos International Airport.

Aristo Developers has divided Pelagos into small clusters – Akti, Ammos, Kyma and beachfront villas – creating a low-density beachfront community. Pelagos is one of the rare beachfront projects in Cyprus offered on a large scale by a developer with a long-term master-planned land bank, rather than scattered individual villas.

Pelagos Beachfront Villas Features

The villas at Pelagos are designed in a modern Mediterranean style with white-walled structures, sun louvres and spacious sea-facing roof terraces. Built area ranges from 151.20 m² for a 3-bedroom villa in the Ammos cluster to 589.80 m² for a 5-bedroom beachfront villa. Each unit features a private pool, landscaped garden and private parking space.

Technical specifications include Class A and B+ energy efficiency certifications, central air conditioning system, thermal aluminium double-glazed windows and natural stone paving in outdoor areas. Selected villas feature hanging gardens and multi-tiered roof terraces to maximise views of the Mediterranean.

The entire project comprises over 60 planned villas, of which many units have been handed over to their owners and a portion are currently on the market. The handover schedule for the remaining villas is 22 to 24 months from the contract signing date, as announced by Aristo Developers.

Chloraka and Paphos – the investment case

Chloraka is a coastal area located north of the Kato Paphos tourist area, known for its Blue Flag-certified Pachyammos beach and a lower tourism development density than the centre of Paphos. Pelagos is situated adjacent to the 5-star King Evelthon hotel, approximately 5 minutes' drive from Paphos Harbour and Kings Avenue Mall.

Paphos International Airport is a 20-minute drive from the project via the A6 motorway, providing direct connections to major European cities such as London, Frankfurt, Athens and Moscow. Aspire Private British School and Paphos International School are within a 2 to 10-minute drive.

The Paphos region is one of two major cities in Cyprus attracting foreign investors through the residency by investment programme, with the highest concentration of new projects located along the coastline from Kato Paphos to Coral Bay.

Aristo Developers – the developer

Aristo Developers, established in the early 1980s by Mr Theodoros Aristodemou, is one of the largest property developers in Cyprus with over 265 completed projects and more than 40 projects currently under development. Aristo is the developer behind Venus Rock Golf Resort, Kings Avenue Mall, Eagle Pine Golf Resort and Paphos International School. The company has offices in Cyprus, Russia, China, the UAE, Egypt, Greece and Ho Chi Minh City.

Cyprus Permanent Residency Programme

Pelagos Beachfront Villas fully meet the criteria for the Cyprus Permanent Residency programme under Regulation 6(2) – a fast-track residency by investment route for non-EU citizens. The investment requirement is a minimum of €300,000 excluding VAT in new residential property from a developer. All Pelagos villas are being sold for the first time, thus satisfying the first sale requirement.

The application includes spouse and children under 25 who are studying full-time. A guaranteed income from sources outside Cyprus of at least €50,000 per year is required for the main applicant, plus €15,000 for the spouse and €10,000 for each dependent child. The processing time, as announced by the Cyprus Migration Department, is usually around 4 to 6 months from the date of submitting a complete application in 2026.

Permanent residency is valid indefinitely, does not require renewal, and only requires entry into Cyprus at least once every 2 years. Cyprus is a member of the European Union but is not part of the Schengen Area as of April 2026.

Tax Advantages and Yield

Purchasing a Pelagos villa as a primary residence allows for a reduced VAT rate of 5% instead of the standard 19% for the first 200 m² – for villas with a built area exceeding 200 m², the 19% rate applies to the excess. If purchased for rental purposes, the 19% VAT may be reclaimed. Cyprus does not impose inheritance tax and offers exemption from annual property tax.

The coastal Paphos area has a stable short-term rental market due to year-round tourism and a long-term expatriate population. The Cyprus corporate tax rate is 12.5%, one of the lowest in the European Union, and the country has a network of double taxation treaties with over 60 nations.