TOP 5 Areas of Limassol for Real Estate Investment in 2022

ТОП-5 районов Лимассола для инвестиций в недвижимость в 2022 году
15 August 2022 Anton Solncev
1622

Limassol is not only the second largest city of Cyprus, but also the economic, cultural and financial center of the country.

It stretches for several kilometers along the sea, so the coastline offers residents all the delights of a Mediterranean resort. At the same time, the largest shopping and business centers are concentrated in Limassol.

Convenient geographical location is another important advantage of Limassol. From the city you can easily get to any point in Cyprus. All this makes it very comfortable for living and promising in terms of real estate investment.

In this article, we will talk in detail about the best areas of Limassol for buying property.

Germasogeia

This area ranks first in our rating for the following reasons: the presence of an international community, convenient location, high-quality infrastructure, modern buildings, and an elite area. Let's take a look at each point.

Let's talk about its location.

The municipality itself (Germasogeia is a separate municipality, although it may soon be absorbed by Limassol) is divided into two parts: coastal (on the south, 'inland side' of the Larnaca-Nicosia highway) and central (that is, the village itself). In this article, we will only mention the coastal area, although it is quite small in size.

The main advantage of Germasogeia is its small distance from the city center - large interchanges are closer here, it is faster to get to the capital and the main airport from here, and it is also convenient to turn around in the opposite direction - to Paphos and the other airport. The sea here is no worse than, for example, in the city center or in the nearest vicinity. But here is also the eucalyptus beach Dasoudi, unique for coastal Cyprus, the trees are right on the waterfront.

Germasogeia has a large number of electronic equipment, clothing, shoe, jewelry stores and so on. And here you will find both 'economy class' stores and high-quality expensive brands. The former will be located rather closer to the highway, the latter - on the embankment.

A sufficient number of restaurants, hotels, medical and educational institutions both in Germasogeia itself and in the neighborhoods close to it will also raise the status of your rental property bought in the area. And if you are buying for yourself, then you will not find a better place in the whole city.

A few words about urban development.

Half a century ago, Germasogeia was a small village, its population by the early 70s did not reach 2 thousand people.

To date, the number of residents in the area has increased by about ten times! Since active construction began 20 years ago, most of the buildings were built using modern technologies and look completely different from the slums of the last century. And, of course, there is an incredible variety of projects here — from tall skyscrapers to modern detached houses. Let's take a look at some of them.

In Germasogeia, right on the seafront, they are being completed (or have already been completed) the most beautiful skyscrapers in Cyprus. Of course, it's worth starting with The Del Mar. Prices for a one-bedroom apartment in a high-rise start from 1 million 155 thousand euros. A huge 5-bedroom penthouse can be purchased for 6 million 405 thousand euros.

For any new apartment in this complex, you and your family will receive a Cyprus permanent residence. And if you do not need a residence permit, then DOM has a great offer for you — a 2-bedroom apartment with an area of 170 m2 for only 1 million 700 thousand, VAT is not paid! Just imagine what views you will have from the window!


All options for buying real estate in the Limassol Del Mar project

Another well-known among foreign investors is Icon. What can you find here? Marble floors, special lighting design, household appliances of leading brands fully integrated into kitchen furniture, huge glass doors from ceiling to floor and, of course, panoramic views of the sea and the city, opening from absolutely all residences.

The Icon provides hotel-style accommodation, with 24-hour service, cleaning of the residence at any time of the day, chauffeur services and so on. Prices for apartments range in size from 829 thousand euros (1 bedroom and 113 m2) to 4.29 million euros (3 bedrooms and 351 m2).


All options for buying real estate in the Icon project

No less interesting are ready—made projects in Germany - Only Tower and I100 Limassol. Prices for apartments in them start from 1 million 150 thousand euros.


All options for buying real estate in the Only Tower project

All options for buying real estate in the I100 project

Our list ends with future projects: Landmark Limassol, The Signature and Westminster Residences.


All options for buying real estate in The Signature project

Also, it is in Germasogeia where beautiful apartment buildings in the Victorian style are located: Holland Park Residences, Belgravia Residences, Kensington Residences and others.


All options for buying real estate in the Belgravia Residences project

All options for buying real estate in the Kensington Residences project

Among the projects of the middle and lower price categories, it is worth paying attention to the 4-storey Bali Residence project under construction: an apartment of 67 m2 will cost 360 thousand euros in the complex. In the neighboring Christine Residence with 2-bedroom apartments (103 m2) from 435,000 euros.


All options for buying real estate in the Bali Residence project

All options for buying real estate in the Christine Residence project

You can also find modern houses in Germasogeia, including luxury villas, for example, the 5-bedroom Casa Futura (villa 508 m2 and plot 690 m2) for 4 million 300 thousand euros.

Finally, here is a great opportunity to run your own business. Here are a few business centers to buy: the 9-storey Estella Business Centre for 22 million 500 thousand euros and the 7-storey Elysium Tower Business Centre for 13 million euros. As well as offices in Vashiotis John Marie Offices.


All options for buying real estate in the Vashiotis John Marie Offices project

Finally, another project is the Plus 20 Residence apartment building. The entire building is being sold for 2 million 450 thousand euros.

Areas of Mouttagiaka- Pyrgos

Another interesting area in Limassol for investment in 2022 is Mouttagiaka – Pyrgos. This is, in fact, a group of districts located east of Germasogeia, towards Larnaca. They are very reminiscent of Germasogeia, but they have a big difference - they are not yet so heavily built up, and projects here (especially those that are not just near the sea) are cheaper. However, when these areas are built up, the prices for existing projects will also increase significantly and will approach the prices of housing in Germasogeia.

Separately, it is worth noting that in this area there is also an active coastline with elite skyscrapers. Here are the main ones:

  1. 24-storey Ararat with 17 residences, as well as a gym, swimming pools, restaurants for every taste, SPA, playgrounds, salons, bars and a cigar lounge. A 3-bedroom apartment (298 m2) in a high-rise building can be bought for 3 million 292 thousand euros.

33-storey The Ritz-Carlton Residences with a 22-meter swimming pool, saunas, bars and a virtual golf gym. Prices in the skyscraper start from 912 thousand euros for a 1-bedroom apartment.


All options for buying real estate in The Ritz-Carlton Residences project

And also: 23-storey Sky Tower Limassol, 14-storey Athanasiou Tower Limassol, 11-storey iHome Limassol and Park Tower. And, of course, the 14-storey Amathus Residences is a project combining an apartment building and a luxury hotel.


All options for buying real estate in the Sky Tower project

All options for buying real estate in the Athanasiou Tower Limassol project

All options for buying real estate in the iHome Limassol project

All options for buying real estate in the Park Tower Limassol project

All options for buying real estate in the Amathus Residences project

These were all elite coastal neighborhoods, in general, real estate in these areas is still relatively inexpensive. For example, the Aqua Park Vacation Club project is 400 meters from the sea. For just 198 thousand euros, you can buy a new 1-bedroom apartment, and a 3-bedroom villa (secondary) with furniture at a special price from DOM will cost you 650,000 euros!


All options for buying real estate in the Aqua Park Vacation Club project

In the areas of Mouttagiaka - Pyrgos, the highway is much closer to the sea, which makes the exit from all quarters convenient and fast. The price per square meter here strongly depends on the distance to the city center. The closer the project is to old Limassol and Germasogeia, the more expensive it is, the closer it is to Larnaca and Nicosia the price for land begins to fall sharply. As expected, the price is also affected by the distance from the sea the seacoast is built up with hotels and skyscrapers, but inland the price gradually decreases.

For example, let's compare two projects. Just behind the interchange, in relative proximity to Germasogeia, you can find a secluded place Athanasiou Residences in Agios Tychonas, where double villas start from 660 thousand euros. A little towards Larnaca and on the hills (a short distance from the sea), the price for a 3-bedroom villa in the Bianco Residence complex will cost 365 thousand euros. And very close to the Bianco Residence in Chrysos Hills, a three-bedroom villa with a large plot will cost 467 thousand euros.


All options for buying real estate in the Athanasiou Residences project

All options for buying real estate in the Bianco Residence project

All options for buying real estate in the Chrysos Hills project

In general, if we talk about these areas, the infrastructure in them is no worse than that which can be found in the center of Limassol or Germasogeia. It is full of shops, supermarkets, boutiques, as well as beautiful beaches and embankments. The percentage of international community here is slightly lower, but still significantly high.

It may also be interesting for you to run your business here. For this purpose, a 4-storey commercial project Amber Offices is being built for 5 million 460 thousand euros (1211 m2). You can buy one floor at a price of 1 million 330 thousand euros (295 m2).


All options for buying real estate in the Amber Offices project Area of the new casino (Zakaki, Omonia)

At the end of 2022, the City of Dreams Mediterranean, the largest casino resort in Europe, is scheduled to open in Limassol.

More than 600 million euros were spent on its creation. The project includes a 16-storey hotel with 500 rooms, 11 restaurants, swimming pools, an adventure park and, of course, spacious gambling halls. According to experts, the casino will attract up to 300 thousand tourists every year and bring as much as 4% of GDP to the island's economy.

It is noteworthy that the project is being built in Zakaki far from the most developed area of Limassol. Let's digress for a minute we had all the previous districts to the northeast of the center towards Larnaca and Nicosia. In that direction, the city can develop almost indefinitely. In theory, all the way to Larnaca. Zakaki, on the contrary, is located southwest of the center, or rather directly adjacent to the city center. However, this area is not developed. The fact is that here, in the area of the big port, the border of Cyprus with the British territories passes. Until the recent agreement between the countries, it could not be built up.

However, the new agreement between Nicosia and London, as well as the construction of a casino, will dramatically change the price per square meter. Already, some developers have bought up part of the land near the project and started building their residential complexes. Let's look at them in more detail.

Multi-apartment high-quality Casino Square project, in which apartments (now under construction) start from 154 thousand euros! Soon there will be no such prices in this area.


All options for buying real estate in the Casino Square project

It is followed by projects with similar names Casino Residence (the whole project is sold for 2 million 920 thousand euros euros) and Casino View Residence with a price for two (almost 100 m2) - 270 thousand euros. Or, for example, Plus 39 with a 4-bedroom apartment (126 m2) for only 315 thousand euros!

Among other projects in the area, it is worth noting the elite village of Limassol Greens with its own golf club and villas for several million euros.


All options for buying real estate in the Limassol Greens project

The Limassol Park project also occupies an entire block. Investors have the opportunity to purchase apartments at a price of 175 thousand euros or a whole building for subsequent resale, rental or personal-commercial use.


All options for buying real estate in the Limassol Park project

Another similar block will be Sunset Gardens, which is also sold both apartment-by-apartment and house-by-house. Ideal for an investor of any category! In general, it is popular to sell entire projects in this area many small and medium-sized developers have bought up land and offer to sell the entire building at a wholesale price in order to get a small profit faster, not spend money on advertising apartments and waiting for new tenants, but switch to the next small projects. This is how buildings like Bellagio Residence turn out, which for less than 2 million 800 thousand euros will be waiting for their new owner.


All options for buying real estate in the Sunset Gardens project

Zakaki also plans to open its first skyscrapers, though not skyscrapers yet: two 14-story Sky Gardens will rise above a quiet but extremely promising area.

And what about Zakaki as a personal residence or rental?

There is a highway straight from Zakaki towards Paphos Airport and the western corner of Cyprus, you can also quickly go around the city along the ring road and get to Larnaca Airport with a breeze. Zakaki itself and the surrounding areas are provided with the necessary infrastructure. Moreover, this is where the new mall is located.

And yes, it is here that the main water transport artery of Cyprus is located — the port. Both cruise tourists of different nationalities and goods from all over the world arrive here. Some apartment projects are directly focused on the potential of the Limassol seaport, for example, the Harbour City buildings.


All options for buying real estate in the Harbour City project

Center of Limassol

Yes, this is the very center of the city that was mentioned earlier. This is an almost completely built-up area, with the exception of Turkish wastelands, which, except for parking, no one dares to use. These are cheap and not very high-quality buildings of the middle of the last century, as well as historical houses, with which the headache is the most. But this is the city center with all its advantages!

What exactly is worth investing in in the center of Limassol? There are several options — skyscrapers, business centers, as well as old houses. Let's start with the first one.

Of course, these are the long-awaited towers of Blu Marine Limassol, which, however, are located not exactly in the city center, but in the direction of Zakaki. Spacious one-bedroom apartments (110 m2) start from 675 thousand euros!


All options for buying real estate in the Blu Marine project

For business projects, this is a real paradise. Just take a closer look: Park Royal with residential apartments and offices. Prices range from 950 thousand euros to 2 million 150 thousand euros.


All options for buying real estate in the Park Royal project

And also: the Corniche Tower already commissioned, the Smart Tower under construction, as well as the project for sale and rental of Atrium.


All options for buying real estate in the Corniche Tower project

All options for buying real estate in the Smart Tower project

All options for buying real estate in the Atrium project

Separately, we can note the trend of building offices in historical buildings and small residential apartments for rent to students.

Thus, in Limassol you can find excellent areas for buying real estate, but the eye of an experienced investor should not stop there.

After all, outside the city, in the mountains, there are hundreds of kilometers of untouched land in a real ecological reserve and only a few dozen minutes drive to Limassol.

For example, Guru Mountain Resort. The upscale mountain resort is located on the slopes of the village of Platres at an altitude of 1065 meters above sea level and is surrounded by winding treadmills. For sale there are luxury apartments and villas for connoisseurs of mountain life.

Excellent villas Platres Holiday Homes for small (by Limassol standards) money - 568 thousand euros for 3 bedrooms with an area of 166 m2 and a plot of 237 m2.


All options for buying real estate in the Platres Holiday Homes project

Interested in buying a property in Cyprus? Welcome to the DOM! Here you will find options for houses and apartments in Limassol, Paphos, Larnaca and Famagusta, as well as get the help of experienced specialists.

See also:

  1. Rating of countries by the cost per square meter in 2022
  2. Two floors, a terrace and a gorgeous sea view: new buildings in Cyprus with exclusive apartments
  3. Medical tourism in Cyprus
  4. Paphos or Limassol: all pros and cons
  5. 10 reasons to move to Cyprus with children
  6. The way of Plus Properties in Cyprus
  7. Long-term prospects for buying real estate in Larnaca
Source: DOM
Photos: DOM, pixabay.com
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