Pros and cons of living in Limassol

Плюсы и минусы жизни в Лимассоле
29 September 2020 DOM LiVE
6182

Limassol is the second largest city in Cyprus.

It is a sunny city with a seven-kilometer promenade, located at the southern tip of the island on the shores of the Akrotiri Bay between the ancient cities of Kourion and Amathus.

On the other side of the sea is Egypt, which is about 300 nautical miles away.

As of 2020, the population of Limassol is about 250,000 people.

Limassol Real Estate

Limassol is considered a haven for millionaires and a city with a very high standard of living, however, in fact, the prices are not so high. The cost of real estate in Limassol varies greatly depending on the area and type of property.

The old center of Limassol is very interesting from an architectural point of view and you can walk here for hours. All these narrow streets, houses with wooden shutters, hanging balconies, remnants of luxury - buildings in the colonial style, erected by the British in late 19th and early 20th centuries, and typical Middle Eastern houses with galleries under vaulted ceilings, arches, priceless mosaic floors - like in a museum.

Cyprus, Limassol, Old Town, Building, Architecture

The embankment of Limassol - the "first coastal line" - is built up with panel high-rise buildings.

Shop, Cyprus, Bike, Lemesos, Buildings, Internet Cafe

The pearl of Limassol is the embankment (Molos) recently rebuilt thanks to the EU funds, a tourist area starting approximately from the St. Raphael and heading east. And also Limassol Marina - the first marina for yachts in Cyprus and today the fifth harbor in the world, awarded the prestigious 5 Gold Anchor Platinum Award.

Limassol Marina combines elegant accommodation (apartments and villas) on the shores of the Mediterranean Sea, a yacht harbor with all amenities, a huge selection of restaurants and cafes, as well as shops and boutiques.

The cost of housing here varies from € 800,000 to € 7,000,000 on average

Cyprus, Limassol, Molos, Old Port, Marina, Tourism

The most prestigious villages in Limassol region are Pyrgos, Parekklisia, as well as Amathus and Agios Tychonas districts. They are located on the hills, just 1-2 km from the sea and the most expensive and beautiful houses with a sea view are built there. The western districts of the city are also considered prestigious: Zakaki and Pissouri.

By the way, in Limassol it is easy to orientate yourself by the star rating of hotels located in a particular area.

All five stars are located in the areas that we mentioned above, because there are the best beaches, and, accordingly, by purchasing real estate in these areas, you will live in close proximity to the sea and shady eucalyptus groves.

In addition, several high-rise buildings are currently being erected in Limassol - the first 'skyscrapers' in Cyprus, which will have luxury apartments and offices, as well as shops, restaurants, sports clubs and swimming pools. These are Del Mar, three Trilogy skyscrapers, and many others. Detailed information is available here.

Business and work in Limassol

According to a study conducted by Ernst & Young, 69% of Russian companies in Cyprus are located in Limassol, 29% in Nicosia and 1% in Larnaca.

The largest companies with foreign participation are concentrated in Limassol, as well as representative offices of the world's leading shipping companies. The newly created “sub-ministry of shipping” in Cyprus was established not in the capital, but in Limassol - in close proximity to the biggest port and shipping companies.

A construction boom has been observed in Limassol during the last 2-3 years: real estate prices have increased many times due to the huge demand from potential investors and expatriate employees of foreign companies who come here to work.

In addition, the offices of most investment companies, software and computer games development companies, Forex and many others are located in Limassol.

When firms cannot find qualified personnel in Cyprus, they invite employees from EU and non-EU countries, paying for their relocation and offering good working conditions: in addition to sunny offices with sea views, they give a bonus in the form of a solid social package, health insurance for the whole family, paid lunches and even classes in English, yoga, as well as fresh fruit in the offices and other "goodies".

Despite the fact that the costs in Limassol are high - the cost of rent in the last couple of years has soared by 20-30%, and the prices of goods and services are higher than in other cities of Cyprus, newcomers are happy with their lives.

Of course, many in Cyprus lack cultural life - theaters, concerts, museums and exhibitions, but a good climate, security, fresh vegetables and fruits all year round and, importantly, income levels compensate for the "cultural hunger".

Expats working here say the difference between wages and living expenses allows them to live a comfortable life and save money for the future.

Leisure and entertainment in Limassol

Limassol is famous for its rich cultural life and it is believed that the natives of this city differ from the natives of other cities on the island in a special spirit: they are more open and positive and like to have fun like no other.

It is probably no coincidence that the annual Cypriot carnival takes place here. Every year, on the last weekend before Lent (February-March), a grandiose carnival procession takes place here, people from all over Cyprus come to see it.

The traditional Russian-Cypriot festival takes place in Limassol in June, there are a lot of concerts and other outdoor events in July-August, and there is a cheerful “Wine Festival” for a week in the Municipal Park in September, where producers of Cypriot wines and delicacies offer tasting of their products. Theatrical performances take place in the Rialto Theater.

Famous foreigner performers who come to Cyprus as part of their touring tours visit Limassol every month. In February 2019, a concert of the legendary Scorpions took place in Limassol.

Let's summarize

Pros: Infrastructure, universities, schools, azure sea, both international airports are 40 minutes away, proximity to mountains and ski slopes in Troodos, good climate, huge selection of fruits all year round, international atmosphere.
Cons of living in Limassol. An expensive city on the island of Cyprus: the level of prices for goods and services is higher than the average in Cyprus. The influx of tourists, regardless of the season. There are traffic jams. Few cultural events, poorly developed public transport.

Which city to choose for living on the island of Cyprus is up to you.

The specialists of the DOM real estate agency in Cyprus will be happy to help you with the choice of housing (apartments, houses, villas) for rent or purchase of property, as well as provide free advice on support of the transaction.

More life and interesting blogs about Cyprus are available at the link: DOM LiVE

Source: DOM LiVE
Photos: Pixabay.com, DOM LiVE
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