Property in Limassol
Limassol is the second largest, and, according to statistics, the most sought-after city of Cyprus among foreign investors and buyers of real estate for both permanent residence and leisure. The popularity of this region is due to a number of advantages: 16 kilometers long coastline with crystal clear water, excellent beaches and marinas; cosmopolitan city, business centre, the major port on the island; high-quality life (large commercial and modern business centres, a superb choice of shops and boutiques, international standard medical care facilities, high-standard education (English, Greek and Russian schools, numerous children's centres, colleges and universities which provide courses in Greek and English).
The seafront properties from the new мarina to Parklane Hotel in Limassol are in high demand. However, there is a number of other important factors in choosing the right location of a real estate: property type, budget and purpose of the purchase. The main criteria in choosing an apartment or a townhouse/ maisonette for holidays or for rental purposes is walking distance to the beach and the city’s infrastructure. In such cases, it is wise to purchase a real estate in the city center and tourist area, from the old port to Agios Tychonas area, including the areas of the municipal park and Germasogeia.
As for buying villas or luxury apartments for permanent residence or holidays, beside the coastline stretching from Limassol Marina to St. Raphael Hotel, there are other prestigious hillside areas with a low building density and beautiful views to the sea and the surroundings. Such areas are Germasogeia, Mouttagiaka, Agios Tychonas, Agios Athanasios, Amathounta, Parekklisia, Pyrgos.
Property prices in sought-after areas vary greatly depending on location, developer, the project itself, its concept, market (new or resale property) and other factors. Nowadays, many developers are moving away from building ordinary projects and prefer developing and building large projects with modern internal infrastructure, including indoor and outdoor pools, spa, gyms, shops, restaurants, cafes, children's playgrounds, tennis / multipurpose courts and even marinas, such as Limassol Marina. Rental and selling prices of a property within a luxurious project will be accordingly much higher than a property in the same location and with similar characteristics within an ordinary complex/ building.