Property in Limassol: features of the region

Limassol is the city deservedly called Cyprus's second capital and the island's first business center. Here, foreign companies flock and set up offices, where investors come and buy commercial real estate, where young entrepreneurs start their businesses, and where one of the best properties in Cyprus is located.

Features of the city of Limassol

Limassol is the second largest city on the island, second only to the capital Nicosia. However, Limassol is the most popular resort in Cyprus, the most significant business hub, and the most developed entertainment, infrastructure, and gastronomic center.

Life in Limassol is more expensive than anywhere else in the country. However, this is due to the high demand and service quality. Here is the tallest building on the island, the most significant number of select areas, high-level service, and many fashionable hotels where wealthy people worldwide have a rest. And here you can buy the most luxurious real estate in Cyprus — penthouses in skyscrapers, spacious, functional villas, apart-hotels and boutique hotels, and innovative hubs designed by the last word of modern technology.

The city will delight you with the most significant number of gastronomic establishments on the island. It is a real boom because here you can find every cuisine of the world, haute cuisine, molecular and exotic. The region has clubs and bars, restaurants, and atmospheric coffee houses, entertainment for all tastes and budgets.

Despite its technological sophistication, Limassol has preserved the ancient architecture and sights with which Cyprus is rich. The choice to buy property in Limassol is wide and satisfies all tastes and needs — you can buy property in Limassol in the elite coastal marina area near the bustling party life or choose a quiet suburb with picturesque nature and tranquil evenings away from the hustle and bustle.

You can spend your leisure time on the many golden beaches of Limassol, many of which have been awarded the European Blue Flag, testifying to the exceptional cleanliness and safety of the coastal area. The old town of Limassol will delight you with fascinating antiquities, Templar castles, mosaics, museums, and excavations. Whole neighborhoods are also densely packed with grill bars, pubs, taverns, restaurants, street discos, and nightclubs.

The streets are equipped with jogging and bicycle paths. There is a large-scale bike rental, playgrounds, parks, squares, promenades, a port, and a marina.

However, entertainment does not cancel the presence in the city of many office buildings in which companies worldwide have settled. Many foreign businesses are relocating here. The constant flow of relocates only increases the demand for real estate in Limassol — both residential and commercial, because everyone needs somewhere to live and work.

The city's main feature is an ideal combination of the largest business center and the most popular resort in Cyprus. In addition, it is in this region the largest concentration of the Russian-speaking population — about 80 thousand residents are natives of the CIS countries and native speakers of Russian. So you will hear the Russian language everywhere. In cafes, restaurants, stores, and beauty salons, you will meet Russian-speaking staff almost everywhere. Such a large diaspora and the prevalence of the language allow you to quickly and easily adapt to the island after moving.

If you want to buy property in Cyprus in Limassol, then be sure that it is a liquid investment because property prices steadily rise yearly, and this applies to both sales and rent.

Property in Limassol: what to choose?

Real estate in Limassol is in demand all year round and invariably. Developers build new projects that can meet any resident's or tourist's needs, so the number and variety of developments are significant.

The following properties represent residential real estate in Limassol:

  • apartments and penthouses;
  • small studio apartments;
  • villas with a private plot and swimming pool;
  • semi-detached villas with one shared wall;
  • townhouses — a middle option between apartments and villas.

Before you buy a villa in Limassol, you should understand that the development takes place in complexes, each of which may include a small number of units and dozens of villas and apartment buildings. Villas are usually more expensive than other housing, but adjacent villas are more economical because they have a common wall, but the yard and the roof are individual. This type of layout allows you to save money when buying but not to lose the benefits of living in your mansion - you will have a private garden and lawn, a recreation area and barbecue, and a possible swimming pool.

If you want to buy luxury real estate in Limassol, you can choose between villas and apartments, namely penthouses. Villas are luxurious, spacious, high-tech homes with a large landscaped yard, garden, swimming pool, and recreation area. However, apartments can sometimes cost more than villas and meet just as many of your needs.

Top-floor apartments are penthouses, which can even be duplexes, and have access to the roof, where you will have a private landscaped garden, a private outdoor pool or jacuzzi, and a barbecue area. Your complex can also include internal infrastructure: a store, a restaurant, a gym, a meditation room, a playground, a walking area, or even a shopping alley.

Many elite properties are located near the port and beaches of the city. If you buy a house for investment purposes in Cyprus in Limassol in just such a place, you will not have a shortage of tourists wishing to rent homes. With personal residence, you can enjoy all the benefits of the Mediterranean. The same opportunities offer to buy an apartment in Cyprus in Limassol, as such accommodation is not less popular.

The price of real estate in Limassol: what it depends on?

In Cyprus, the price of real estate is formed taking into account many factors:

  • how far the property is from the sea — the closer, the more expensive;
  • how big are the area of the house and the yard;
  • what is included in the internal infrastructure of the complex and its landscaping;
  • the quality of the building and finishing materials;
  • at what stage did you buy the object — in the trenches or already completed building.

It is also essential in what city you have chosen your home. In Cyprus, in Limassol, real estate prices are much higher than in many other cities due to high demand. In Larnaca or Ayia Napa, the cost is lower, but the infrastructure of these cities is inferior to the business center.

SPM Real Estate specialists will help you calculate all the points and optionally build a business model so you can buy the most effective property in Cyprus.

What you get when you buy a property in Limassol: bonuses

Investing in real estate in Cyprus and buying a villa or apartment in Limassol offers you several advantages:

  • optimization of business due to the mild tax climate in the country. For example, the corporate tax here is only 12.5%;
  • high ROI (from 8% per annum on average), which allows for an accelerated return on investment, as demand in the real estate market has been steadily growing 3 years in a row;
  • a safe life (Cyprus is the 5th safest country in the world, there is practically no crime);
  • high standard of living — the country is a member of the European Union, is a member of the Eurozone, and has a British legal system;
  • rapid acquisition of permanent residence permit, as by purchasing a property from €300,000 plus VAT, you will get a permanent residence permit of Cyprus by an expedited procedure from 2 months. In 7 years after obtaining the status of permanent residence in Cyprus, you can become a citizen of the country.

What other real estate can I buy in Cyprus?

In addition to residential real estate in Limassol, you can buy an effective commercial property in Cyprus:

  • stores;
  • offices, co-working spaces, and innovation hubs;
  • shopping and entertainment centers;
  • cafes, restaurants;
  • hotels and apart-hotels;
  • medical clinics;
  • kindergartens and schools.

Depending on your life and business goals, our experts will help you choose the best property for investment.

Contact SPM Real Estate and buy Cyprus real estate to make your dream of a beautiful life come true!

Your most valuable contact in Cyprus — SPM Real Estate.

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We, SPM Real Estate team, provide our users with reliable and comprehensive information concerning buying and renting residential and commercial real estate, as well as covering variety of domestic and legal issues.

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