Limassol is a great choice for those who decide to invest in Cyprus property. Housing here shows a stable growth in value, and is also in demand among tenants.
Of course, it is difficult to indicate several areas of Limassol and say: "It's profitable to invest here!" Investments can pay off almost anywhere in Cyprus. If you know how to do it.
It is worth taking a closer look at individual locations, because there are many new buildings and developed infrastructure. And these are the main criteria for choosing.
1. The historic center of Limassol
The central part of Limassol along the sea (the Molos promenade and several beaches) is called the Old Town, or the Historic Center. This is the very heart of Limassol - with narrow streets, old buildings and new buildings on the first line.
There are always a lot of tourists here, life is active and exciting. Shops, cafes and restaurants, as well as cultural institutions are closed.
A huge plus of the Old Town of Limassol is the variety of investment projects. Here is a small selection of what can be found in the area:
- elite apartments in new buildings on the first line (mostly near the marina)
- residential houses and luxury apartments in renovated historic buildings
- boutique hotels for renovation
- new and resale commercial properties
- commercial real estate in luxury gated complexes
- residential buildings for reconstruction.
For example, Castle Residences Limassol is a unique gated community that is not found anywhere else in Cyprus. How is this uniqueness achieved? The complex in the form of a medieval castle stands… right on the sea, on an artificial island. However, inside the apartments are far from being medieval - they are elite. There are 2, 3 and 4 bedroom apartments, penthouses and duplexes.
Another luxurious complex in the center, a little further from the sea, is Kingston Place. The developer considers it a “town inside the city”, which is quite justified: the complex has its own territory. It is also attractive for its intimacy and transport accessibility.
You can invest not only in residential, but in commercial real estate. For example, in a new building, which will soon turn into a luxurious elite complex. Let's take this project as an example.
If you are not interested in such a scale, take a look at the old buildings that require major reconstruction. For example, a boutique hotel in the heart of the city is a great investment in a family business. According to DOM analytics, the project will generate at least 17% per annum.
2. Neapolis
This location is also called the ERA supermarket or former Debenhams area. It is located a bit far from the Old Town, but has the most developed infrastructure.
There are wide roads and spacious transport interchanges. From Neapolis it is quite easy to get to any other area of Limassol.
All daily life is also concentrated here: cafes and restaurants, banks, schools and kindergartens, clinics, offices. But there is also plenty of entertainment facilities.
And the most interesting thing is that there is a lot of real estate for every taste and budget. There are commercial and residential properties, there are new buildings and secondary housing, there is cheap, comfort, business and elite class. You can invest in anything: the area is lively, it is convenient to live, relax, and work here.
The most striking object in Neapolis is the One Tower high-rise. It is still under construction, so you can still have time to buy brand new apartments in it. The One Tower complex belongs to the elite real estate, it is perfect in everything: from modern appearance to complete landscaping.
Another interesting option is an investment in the construction of The Studio 25 apartment building. The project includes the construction of a modern house with 25 rental studios. It is ideal not only for investment, but also for obtaining permanent residence in Cyprus.
You can also invest in commercial real estate - for example, purchase an object for a store in a shopping center. Neapolis is a great place to start your own business or rent out premises.
3. Agios Tychonas
It is a suburban area which constitutes a large tourist area together with Moutagiaka and Agios Athanasios. This imposes a certain specificity on the area: the infrastructure is predominantly for tourists, people rarely stay here for a long stay.
But buying real estate here means getting the opportunity to have a large income from the lease of residential and non-residential premises. First of all, it is very profitable to have a whole apart-hotel or apartments in it.
Here's a great example: a 'kit' of three apartments in a gated new-build complex. Ideal for short term rentals and family vacations. The cost allows you not only to profitably invest, but also to quickly obtain permanent residence in Cyprus.
Let's take a look at shared projects: for example, now you can buy apartments with a huge discount in a building (9 apartments) under construction. The cost of an apartment after the completion of construction can rise by 20-30%, so a contribution at the initial stage of construction is a reasonable decision.
In Agios Tychonas, as in other coastal areas of Limassol, you can buy luxury apartments in a high-rise under construction.
Infinity Towers is a grandiose gated complex of two high-rises.
There is everything you need for life or relaxation inside: playgrounds, cafes, restaurants, shops, a walking area, etc. So the apartment is suitable for both long-term stays and as a "vacation" home.
A very interesting option is to buy the building land. For example, this project offers land for a closed cottage village. The place is just excellent: quiet, calm, and at the same time very close to the center, just a few minutes by car.
Important note: Unlike many other Mediterranean countries, Cyprus allows foreign citizens to own land.
For those who do not want to wait for the completion of construction and are not ready to spend large sums, resale property is perfect. For example, a small 1-bedroom apartment near the sea can be rented profitably all year round.
4. Germasogeia
Germasogeia is a very cozy area of Limassol, which differs significantly from both the business center and the tourist area. It represents something in between: you can describe it as the nearest residential suburb.
There are also multi-storey buildings in Germasogeia, but mostly small streets are built up with private houses. The area can be classified as comfort or business class. Although, of course, there are both economy options and luxury housing (especially closer to the sea).
Elite apartments are worth looking for in the Columbia neighborhood. Gated complexes and detached villas are concentrated there. The views from the windows of Columbia's houses are the most amazing.
A living example is the small, but very worthy gated Aston House complex. It includes only 7 apartments, where each apartment is spacious and comfortable accommodation. The area is very quiet and calm, while there is everything you need for life.
However, elite housing in Germasogeia can be found closer to the coast. The I100 high-rise stands practically on the banks of the Dasoudi embankment. This means that the apartments will be in demand among both tourists and permanent residents of Limassol.
From commercial real estate, you can choose a retail space, which can subsequently rented out, or the construction of a tenement house. In both cases, it is possible to quickly pay off and start receiving a stable income.
5. Amathus (Parekklisia and Pyrgos)
Parekklisia and Pyrgos are suburbs of Limassol that have a certain prestige. If you look at the map, you can “fence off” it by excavations of ancient Amathus from the tourist zone of Agios Athanasios - Moutagiaka - Agios Tychonas.
In these two areas, everything has peace and quiet. Life flows measuredly and peacefully, without fuss. Wealthy people with their families are very fond of settling here.
Parekklisia and Pyrgos are mostly built up with low-rise private houses: villas, cottages, townhouses. Here they value personal space more than proximity to the city center - therefore the land plots are quite large and refined.
The coastline is simply charming. Parekklisia has its own marina, which is surrounded by lovely coves on both sides.
One of the large-scale projects of Parekklisia is the multi-storey Marco Polo complex. It will be commissioned in 2022, which means that at the same time elite apartments will rise in price. But now it will be very, very profitable to make an investment!
There are similar projects in Pyrgos too. For example, the monumental 11-storey Park Tower. This is a closed club-type complex with luxury apartments. There are 2, 3 and 5 bedroom apartments for sale on different floors. A stunning view of the sea opens from everywhere.
For lovers of intimacy, you can take a closer look at small houses with 4-10 apartments. In Parekklisia, there is the comfortable Plus 29 Residence, while Pyrgos has the Limassol Star townhouse complex.
Commercial real estate in the Amathus area is much smaller. However, interesting projects can be found, for example, the construction of a small house with 8 apartments overlooking the sea.
Of course, it is difficult to be limited to only five districts. In terms of investment, the same Moutagiaka, Zakaki or Mesa Gitonia are great for investing in real estate. And Agios Ioannis is not worse - it is a rather prestigious area located close to the city center.
Interested in housing in Limassol? Visit the DOM Real Estate. The portal has the largest database of real estate in the country - both residential and commercial. Choose and contact professionals who will help you make the right choice!
Read also:
- Where to live in Limassol? Coastline vs mountains (link)
- Permanent residence permit in Cyprus (link)
- Investment in real estate in Cyprus (link)
- TOP 6 apartments in new buildings with breathtaking views in Cyprus (link)
- Limassol District Beaches (with Photos) (link)
- Rules for inspecting an apartment / house you want to rent in Cyprus (link)
