Where to find a property for sale in Limassol
Whilst British property hunters seeking value have historically headed to Paphos, those with deeper pockets seeking a truly cosmopolitan coastal city, have gravitated to Limassol.
Even before its showpiece marina opened to a big fanfare, the well-located city with both skiing and nice beaches within 40 minutes has been easier to reach with new motorway links, and there have been plans mooted for a Euro Disney and Europe’s largest casino.
But the new marina, offering Cyprus’s first full-service superyacht marina in the Old Town, has undoubtedly been a big driver for investment. Around 60 percent sold to Russian buyers and it has attracted young entrepreneurial types.
If you find Paphos too Anglo-centric and what the latest in swanky new-build homes, you might like Limassol (or if not Ayia Napa, another option there). Outside the marina, you’ll pay €2 million for a quality, detached villa that you would pay €700,000 for in the Paphos region, but you can also get smaller properties in the sought-after areas most popular for rentals – Germasogeia or Pissouri for under €300,000, whether bungalows or large apartments.
Pissouri is a popular village where it’s possible to get a three-bedroom villa with a pool for around €275,000, although Souni is another village location alternative.
Back in the city, there are also some high-rise opportunities – The Oval, Cyprus’s tallest commercial building at 75 metres in the heart of Limassol and nick-named “the egg” for its striking architecture. Meanwhile, another leading developer is designing the highest residential tower on the Med - Pafilia Tower is 36 storeys high, on the seafront in the heart of Limassol. For ultra-luxury living, there is ONE Limassol, a 37-storey tower that will be the tallest seafront residential tower in Europe. Alternatively, Limassol del Mar is a new iconic building designed by the same architects as London’s Battersea Power Station.
So what is driving the Limassol market, that is leading all the regions of Cyprus when it comes to sales to non-Cypriot buyers? Changes to its citizenship and residency programmes in 2016 have also been successful - such as the ‘golden visa’ programme at the €300,000 threshold (to include parents).
A raft of extensive investment across southern Cyprus means there are is much more on offer than the cut-price resale villas of five years ago. Limassol is the best place to go shopping if you want a cutting-edge new apartment or the high life.
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